Cryptocurrency enthusiast names son Cardano: Report

Charles Hoskinson, the co-founder of the Cardano project, welcomed the baby. He took to Twitter and said, "Welcome baby Cardano to the world."

Cardano's price has been on a rollercoaster, fluctuating continuously over the last few days, per data from coinmarketcap. Currently, ADA, the cryptocurrency based on the Cardano blockchain, is trading at $1.54. The coin has lost 2.5 percent in the last 24 hours and 6.5 percent in the last seven days.

Even though the coin lost a significant percentage of its value over the last two months, it is still among the top 10 cryptocurrencies in the market, with a market cap of more than $51 billion.

Cardano launched in 2017 as a proof-of-stake blockchain platform and was among the crypto tokens being touted as 'Ethereum killers' along with other coins, Solana and Polkadot. Despite not reaching the goal of making ethereum obsolete, Cardano has continued to get support from its fans.

The blockchain platform, which was itself named after an actual person—Italian polymath Gerolamo Cardano, considered to be among the most influential Renaissance-era mathematicians—has continued to grow over the past four years. In September this year, the platform saw the launch of 200 smart contracts on the Cardano blockchain explorer. The cryptocurrency ADA has been named after English writer and mathematician Ada Lovelace.