Is ADA pre mined?

Cardano (ADA) is one of the renowned cryptocurrencies with great potential and an active community of developers and users. But Cardano mining is not possible as it is not a part of the Proof of Work (PoW) consensus algorithm, and all the ADA coins were pre-mined during its inception itself .

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What does Cardano depend on?

Ada is the cryptocurrency of the platform. Cardano runs on the Proof-of-Stake Ouroboros consensus protocol . The heart of any blockchain platform is the algorithm it uses to create blocks and validate transactions. Cardano uses Ouroboros, an algorithm that uses Proof-of-Stake (PoS) protocol to mine blocks.

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