TL;DR: ADA (₳) is the native token of Cardano. 1 ADA = 1,000,000 Lovelace
ADA (₳) is the native token of Cardano. This simply means that ADA is the cryptocurrency run by the Cardano system. It is named after Ada Lovelace — a 19th-century mathematician who developed the first algorithm that could be executed by a machine. She was the daughter of the poet Lord Byron.
Lovelace is the smallest unit of ADA, equivalent to one millionth of one token. A Lovelace is to ADA what a Satoshi is to Bitcoin. 1 ADA = 1,000,000 Lovelace
ADA is a digital currency. Any user located anywhere in the world can use ADA as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.
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