Sometimes you may hear the opinion that “Cardano only has a strong community” or that “Cardano has no technology, only community”. Most people who say this have probably been asleep for the last 3 years, as it is becoming more and more obvious that Cardano has top-notch tech. Everything the IOG team release works a little different than today’s standard. Liquid staking on Cardano is definitely better for maintaining a high level of decentralization in the long run than competing PoS projects. The Plutus platform has already shown that you can build DeFi applications that resist hackers.
In this article, we don’t want to deal with technology, but with community. We think many fundamental analysts underestimate the power and importance of cryptocurrency communities. Technology and community are the two pillars of success for any blockchain project. Both must flourish, and one of the pillars may dominate at a certain stage of a project’s development. The blockchain revolution is based on technology, but it is the people who choose the technology they want to use in the future. The technology itself cannot enforce itself and there is no third party to impose the blockchain technology on you. The community is absolutely a key ingredient for success in the early stages of a project.
Cardano owes its strong community to the fact that it is perhaps the only project where we can observe TVL growth in a bear market. Technology needs a first wave of users and these are born from the community.