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After a brief hibernation this summer, cryptocurrencies are surging again. And this time, traders are abuzz about Cardanos ada token.

But what is it and how did it become the third-largest cryptocurrency? Here is what you need to know:

Cardano is a decentralized blockchain platform launched in 2017 and spearheaded by Ethereum co-founder Charles Hoskinson. Its self-described mission is to become a more environmentally sustainable and scalable blockchain network, in part by relying less on energy-consuming cryptocurrency miners.

Ada is a digital token, or cryptocurrency. It runs on the Cardano blockchain. It is named for Ada Lovelace, a 19th-century mathematician who is often regarded as the first computer programmer.

In general, altcoinsor alternatives to bitcoinhave been surging lately as individual investors pile back into cryptocurrencies. Cardanos ada token has emerged as a recent favorite in the pack.

More here:
Cardanos Ada Is the Latest Cryptocurrency to Surge. Heres What You Need to Know. - The Wall Street Journal