Hi everyone. On the website which I read on a daily basis today was published an interesting article about Cardano, and I decided to share it with you.
Source: https://cryptoncy.net/buzz/cardano-ada-making-sense-of-2018-s-eth-bitcoin-killer-15.html (if links violate any forum rules, please delete it).
Cardano (ADA) - Making Sense of 2018’s ETH & Bitcoin Killer
It is now week two of one of the most aggressive Bitcoin price pull-backs in recent history. What is more, this can only mean one thing. Namely, that smart cryptocurrency investors are now busy stocking up on digital assets while prices are low. The only question is, which coins should investors be looking to buy and why?
What is Cardano?
One altcoin making significant waves on the fledgling 2018 cryptocurrency market is Cardano (ADA).
Holding steady at $0.02 in throughout much of 2017, Cardano started rocketing in value in mid-November. This then led to January 4th of this year, seeing Cardano trading at $1.18.
Of course, much of Cardano’s initial growth was spurred by pure speculation. Now, though, that the markets have cooled, ADA is still holding steady at $0,59. This is because as markets have cooled, investors have started looking more closely at altcoin whitepapers and found Cardano to be something really quite special.
The World’s Only Peer-Reviewed Digital Currency
The first striking feature of Cardano rests with the fact that before the ADA whitepaper was authored, each aspect of the Cardano blockchains capability, was peer-reviewed by leading academics and international blockchain innovators.
What verified peer review of a coin means, is that when Cardano says that its blockchain can facilitate lightning fast cross-blockchain digital currency transactions, its developers aren’t just postulating. Instead, all such claims have been thoroughly vetted by genuine authorities in the Fintech and cryptocurrency community.
What Makes Cardano So Special?
At its core, Cardano is what will soon be regarded as a third generation cryptocurrency. This is significant as the blockchain technology which makes digital assets like Bitcoin and Ethereum possible hasn’t really changed much over the past decade. As a result, almost all decentralized blockchains are plagued by:
Long-term scalability issues
It being difficult to merge/integrate with other blockchains
Future long-term security concerns (specifically in regard to quantum computing)
Power consumption and Internet bandwidth sustainability issues
Limited real-world market adoption as a result of all of the above.
Future Proof Scalability
In order to address concerns from across the digital currency spectrum, Cardano has essentially built a new kind of for-purpose blockchain from the ground upwards. Using, for example, what Cardano calls Recursive InterNetwork Architecture (RINA), Cardano splits its blockchain into several sub-networks. In doing so, transaction processing times can be scaled infinitely, while simultaneously using fewer blockchain resources.
Cardano as “The Internet of Blockchains”
Taking scalability further, what Cardano does next is position itself as what it likes to refer to as, the 'Internet of Blockchains.’ This is because while still allowing other forms of digital currency to adhere to their own blockchain rules, Cardano provides a core blockchain upon which several different currencies can be transacted, traded, and exchanged simultaneously.
Bitcoin, Monero, Litecoin, Verge. Whatever the coin, Cardano can be used as a dedicated blockchain superhighway. More specifically, one which allows different digital assets to transact faster, effectively solving scalability issues with coins (like Bitcoin) on their behalf.
Revolutionary Smart Contract Capabilities
Considering that Ethereum started 2017 priced at $10.26 before ending the year at $776.08, it is clear that smart contracts, decentralized computing, and utility coins, are the future of blockchain technology.
Of course, with two hacks under its belt and big ICO clients like Kik Messenger already having left Ethereum, it’s safe to say that ETH’s smart contact capabilities are far from perfect. What is more, this is precisely why many people are referring to Cardano as a potential Ethereum killer in the making.
The Charles Hoskinson Effect
With Cardano founder Charles Hoskinson being one of Ethereums original co-founders, Cardano is looking to completely reinterpret the smart contract paradigm.
Cardano smart contracts promise to be more versatile, secure, less prone to fraud, and more fully featured than those of Ethereum. This is thanks to the fact that Cardano uses a more robust code base which gives smart contract developers a wider variety of tools with which to build more varied blockchain applications.
Should You Invest in Cardano?
As a rule, the volatility of the digital currency market is driven by nothing more than greed and momentary opportunism.
Every day, digital currency investors buy thousands of dollars in junk coins like Dogecoin, before attempting to cash out with 100% profits, as coin prices rise as a result.
Why Cardano is Different?
Thankfully, Cardano ADA finally offers investors a coin as worthy of investment as Bitcoin, Ethereum, and other top market cap cryptocurrencies.
Cardano is real coin based on a real blockchain. Much more importantly, Cardano is easily the most innovative digital asset to arrive on the cryptocurrency market since Bitcoin itself. All that Cardano isn’t, is a coin which can promise investors instant 100% returns. Instead, Cardano is a coin (which given its potential) should be invested in now an held long-term as the ADA blockchain becomes more widely established.