Hi guys and girls, I have been reading some comments on youtube and some crypto websites and I am baffled by some comments regarding cardano like, “cardano is scam”, “why price keep dropping or stagnant while other going up” “when lambo” etc etc. I feel some of these comments are made by trolls but there are some made by genuine person that do not understand what Cardano is, other than another crypto blockchain. So I made this topic for average person to better understand what Cardano is and will be. This is not a financial advice, I am not an expert and maybe wrong but I hope this will help
WHAT CARDANO IS right now. To better explain, I am going to use comparison. Imagine Cardano as a new country and ADA is its currency. To be honest, currently, there is nothing special with Cardano current protocol. It is your average country with governance, economy, finance, eveything controlled by the government (IOHK, Emurgo and Cardano Foundation), like china, russia and supposedly other “democratic” countries. But what make Cardano differ with other countries are the promises of the next updates to the protocol.
WHAT CARDANO WILL BE. Now this is the exciting part. Cardano will implement incentive/inflation system to stimulate the economy (shelley). They will create the protocol in which every citizen participate in the economy will receive extra ADA and/or fees (thus releasing control of the currency to the protocol). Now, compare with other countries like US, where through the Feds they can print billions or trillions at their own whim. Other country currencies are controlled by government and/or central banks. Next, Cardano will create language, rules and regulation within the protocol (goguen smart contract) and thus, you can do banking, marketplace, insurance, finance etc, without fear of being shutdown or manipulated by self-interest politics or regulations (as long as you are not doing crimes). Then, cardano will relinquish governance and by voting mechanism you citizens decide what to do and best for the country (voltaire update). Your vote will matters unlike the so called democracy we have now where most are just illusion of choices. All of these will be recorded in the blockchain. Every data will be fact. No one can say “fake news” “alternative data”. Best of all, these protocols will be based on scientific research rather than some 18 years old slaming programming codes after codes. We can move on to tackle real problems instead of playing neverending cycle of self-interest politics or decisions.
Now we all have been given this opportunity. Our ancestors even our father didnt have this chance. We are at the early stage of something great. All these can only work if we work together, support, participate, nurture the community, make sure of what will be, will be.
There is still some related analysis about price but I think that will be for another topic and time.
Thank you for reading this rant “analysis”.