‘More Than a Cryptocurrency’ – What is the Outlook for Cardano?

According to the Cardano network’s website, the network is “more than just a cryptocurrency.” “It is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world,” the landing page explains.

Indeed, Cardano quickly rose to worldwide renown after its public launch in October of 2017. Initially worth roughly $0.02, Cardano’s native token, ADA, had reached a peak of nearly $1.30 by early January of 2018. The cryptocurrency quickly rose up the ranks of CoinMarketCap, at times placing as the fifth largest cryptocurrency in the world.

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Things have since cooled off considerably for Cardano–ADA has not been spared from the massive haircut that has caused crypto markets to shed billions over the last several months. At the time of writing, a single ADA token was worth roughly $0.13; Cardano sat comfortably as the world’s eighth largest cryptocurrency by market cap.

Still, the network is being hailed as one of the most promising projects in the cryptosphere. Mati Greenspan, Senior Market Analyst at eToro, delved into Cardano at more depth. This included a technical background, future developments for the project, as well as a token valuation analysis.

Cardano Was Created as a Backbone for an Ecosystem of Decentralized Applications
It can be argued that Cardano was intended to act as a sort of improved version of the Ethereum blockchain–both networks have been built to act as the backbone for an ecosystem of ‘dapps’ (decentralized applications).

However, there are some important differences between the two networks. Cardano boasts that its platform is the first to use an academically peer-reviewed open source protocol. Cardano’s protocol was also constructed in layers that allegedly “[give] the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks”–one layer that will host ADA transactions, and one layer that will host Cardano’s dapp and smart contract ecosystem.

Cardano is reportedly capable of processing hundreds of transactions per second, compared to Ethereum’s 4-7 transactions per second.

Still, Ethereum boasts a wider user base and a higher market cap than Cardano has come close to having. Especially now that blockchain networks seeking to serve a similar purpose, like TRON and EOS, have appeared on the scene, Cardano has a ways to go before it could surpass Ethereum.

Ethereum and Cardano Share an Important Figure: Meet Charles Hoskinson
Why do Ethereum and Cardano have so much in common? Cardano was created by Charles Hoskinson, one of the eight original co-founders of the Ethereum network.

Hoskinson left Ethereum in 2014 after becoming embroiled in disagreements about how the project should be structured – according to Forbes, Hoskinson wanted to open Ethereum to become a for-profit entity with a formal governance structure; Vitalik Buterin, Ethereum’s original founder, wanted to maintain the network’s status as an open-source nonprofit with a decentralized governance structure.

After leaving Ethereum, Hoskinson joined forces with Ethereum’s Jeremy Wood to create IOHK, an engineering firm that builds blockchains and cryptocurrencies for private companies and public institutions.

Thus, Cardano was born–the network was IOHK’s primary project. The network was created as a public blockchain network with smart contract capabilities, powered by ADA, its native cryptocurrency.

In an exclusive interview with Finance Magnates conducted earlier this year, Hoskinson told of his high hopes for the network’s future. He said that in a year, “[Cardano will [be able to–pound-for-pound–compete with Ethereum and Bitcoin.”


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Author: MaxPositives
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Cardano (ADA) Might Soon Become a Top 4 Cryptocurrency

Every cryptocurrency’s goal is to rise high on the list of largest cryptos, and Cardano (ADA)might soon get that opportunity. Let’s see why this may happen soon.

About Cardano (ADA)
CoinMarketCap has become one of the biggest and most visited websites for tracking the progress of cryptocurrenciesaround the world. Whenever someone wishes to check their favorite crypto’s price, progress, or stats, this is usually where they end up. As such, CoinMarketCap also offers a list of all cryptocurrencies, ranked in a specific order that shows their success and market cap.

Due to its popularity, every coin wants to be seen among the top ones on CoinMarketCap’s list, with Cardano (ADA)being one of them as well. In fact, this coin might soon become the new holder of the fourth place on CoinMarketCap’s list. This is due to the fact that its popularity continues to grow, and that the coin has performed rather well when all other cryptos failed.

Cardano currently holds the 8th place on CoinMarketCap’s list, with a market cap of nearly $4.5 billion, and a current price of $0.172924per coin. However, despite the low price, Cardano has been one of the most stable cryptocurrencies this year. The only large changes in its price were at the beginning of the year, when all cryptos flourished, and in mid-May. On both of these occasions, ADA’s price went up, and the coin has performed really well.

Of course, soon after, the price returned to its current value, which is mostly where it remained ever since January. This is proof of Cardano’s stability and control over its assets, which is a good thing since it allows us to see that the coin is not a dangerous investment. All sudden changes to ADA’s price so far were positive, which inspires trust.
Now, the market seems to be crypto-friendly again, and ADA has started experiencing another price increase, even though it is slow and careful. This shows us that the coin isn’t rash and that it won’t ruin its investors as soon as the conditions become less than friendly once more.

How can ADA reach the fourth place?
ADA has a good, strong team behind it, which dedicated a large amount of time to the creation and development of the coin and its technology. Where other cryptos were quick to launch their coin and see what happens, Cardano’s team took it slowly and did the job right. Not to mention that it is led by Charles Hoskinson, who was the coin’s co-founder, and is also known for being a co-founder of Ethereum.

Hoskinson has proven to be very capable in the crypto field and has created an equally as capable team to work on this coin. Recently, however, he has become known for some extremely optimistic statements, expecting the crypto world to receive trillions of dollars from the Wall Street. Another big statement of his came quite recently when he expressed hope that ADA will become a first trillion-dollar coin, which would prove that it is self-sustainable, and a strong, positive force in the crypto world.

As mentioned previously, Hoskinson has proven to be capable and having his feet on the ground. If such an individual decides to predict things like these, there is a good chance that his predictions may come to pass. If this happens, then ADA has more than a good chance to become the 4th biggest coin on the market and beat its competition. For now, nothing of this is certain, of course. However, it is probably a good idea to keep an eye on Cardano and be prepared for a lot of positive development.


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Author: MaxPositives
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Will Cardano be the first Trillion Dollar Cryptocurrency?

Charles Hoskinson, the CEO and Co-Founder of Cardano, spoke about his visions for Cardano [ADA] during a session with EMURGO, Cardano’s blockchain start-up incubator. The CEO of Cardano said that he would love to see Cardano as the first trillion dollar cryptocurrency in the space.



He stated:
“I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.”

He added that Cardano is longer like Bitcoin where users sell BTC when the price hikes and exchange it for Euros and Dollars. He further stated that he wanted to see widespread adoption where Cardano is used by people in restaurants to pay in currency when they get their paycheck.

Charles said:
“I would love to see ADA acheive that level of prominence or currencies connected to ADA achieve that level of prominence because then it basically means that we built a private system that has built-in consistency and fair rules for everybody in the world, not just for the people who happen to be very privileged.”

Charles further spoke about EMURGO. EMURGO is a part of the Cardano project that aims to develop, support and incubate commercial ventures on the Cardano ecosystem. He stated that he hopes that the firms would become a thought-leader which identifies applications, services both on the smart contract side and the enterprise side and addresses core problems of decentralization.

He said that if EMURGO solves problems like corruption, abuse, and fraud, then it would create a ‘Me Too’ movement. Furthermore, Hoskinson expressed his wish that EMURGO finds a way to lead the ecosystem in that direction and find great ventures to invest in and create entrepreneurs to invest in who will be able to raise everybody up and will serve as a wonderful example.

Sicuro_crypto, a Redditor says:
“At max supply that’s $22 per ADA! +12,840% from .17c. I have every hope in Charles, such a great visionary….I could listen to him all day!”

Barbara Taylor, a Youtuber says:
“I’m so excited to see all of his brilliant visions come to life! He is SO amazing!”


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Priya
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