Cadmium arsenide (Cd3As2) - a time-honored and widely explored material in solid-state physics - has recently attracted considerable attention. This was triggered by a theoretical prediction concerning the presence of 3D symmetry-protected massless Dirac electrons, which could turn Cd3As2 into a 3D analogue of graphene. Subsequent extended experimental studies have provided us with compelling experimental evidence of conical bands in this system, and revealed a number of interesting properties and phenomena. At the same time, some of the material properties remain the subject of vast discussions despite recent intensive experimental and theoretical efforts, which may hinder the progress in understanding and applications of this appealing material. In this review, we focus on the basic material parameters and properties of Cd3As2, in particular those which are directly related to the conical features in the electronic band structure of this material. The outcome of experimental investigations, performed on Cd3As2 using various spectroscopic and transport techniques within the past sixty years, is compared with theoretical studies. These theoretical works gave us not only simplified effective models, but more recently, also the electronic band structure calculated numerically using ab initio methods.