Cardano and Tron - The challengers (3rd generation)
One thing first: there are many challengers for Bitcoin and Ethereum! And new ones are added every day. The selection of the two candidates mentioned is therefore purely subjective, as he gives them good chances for a sustainable establishment in the cryptospace industry. The decisive factor for this is the solution of concrete application problems and partnerships with other (well-known) companies.
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Peer reviews can be imagined as a medieval inquisition in which the Haskell-based source code is put through its paces by a large number of technology-oriented programmers and crypto-enthusiasts. This approach is an outstanding quality feature for the constantly growing crypto community. Therefore, the Cardano project is already being traded as a foreseeable successor to Bitcoin and Ethereum.
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Cardano is indeed a legitimate successor to Bitcoin and Ethereum, although due to the high number of 26 billion available coins it will probably never reach the price level of its predecessors. A medium-term exchange rate of 10 euros per coin is a realistic prediction for 2022, if the hoped-for acceptance of crypto currencies by the masses actually occurs.
the good thing about this pretty detailed article: It is a complete introduction to the history and essential characteristics of Gen 1 and 2 blockchains. It also deals with their primary properties as well as essential problems. Then Cardano is described as the future solution.
It’s probably a minor point that doesn’t detract much from the overall effect, but peer review is generally done by academics rather than programmers or enthusiasts (though of course these categories can overlap).
I agree and thought that he should probably use “experienced cryptographers”…
Also he mentioned only the current and not the max supply of 45 billion. In both cases, however, the general meaning of the paragraph remains correct.
I think the price prediction is too pessimistic. Bitcoin and Ethereum have limited actual use cases. They have done a good job building something, but are inherently not scale-able. Now, compare that to Cardano, which could effectively replace some currencies in some less resourceful/fortunate countries that, until this point, didn’t have a capacity to build financial infrastructure.
If you think about how fast Cardano could scale, it becomes very obvious that the number of transactions on Cardano network (read demand for the currency) will dwarf those of bitcoin and Ethereum taken together. The fixed supply of 45B will not stand a chance. The price will go up exponentially with demand. I think we could see the effect of this by Q3 2018, when Korean retailers start accepting ADA…
I am not usually the guy who yells " to the moon!" but I can’t believe people haven’t realized how valuable Cardano is. At these price levels its a steal.
Could someone point out some of the serious direct competitors to Cardano? I hear a lot about EOS, but have trouble taking these guys seriously with all their eccentric characters at the helm and their claims of outrageous TPS. I am very impressed with the Cardano project’s mandate, but worry about the timely execution/realization of their plans. There is lots of talk about how Cardano will change the world for the better, but are Cardano’s timelines for going live and consequently their business strategy for success realistic? Thanks in advance.
I think Cardano is its own category (a third-generation crypto platform) but NEO and Ethereum are the closest competitors. EOS isn’t competition because it won’t work.
thank you for your comments on my article and also your criticism about it, which
I truly appreciate.
I got invited to this forum by Christian Meng (Chris28), who read my article online.
It was really surprising to read (parts of) my article being translated into English,
as if it was some kind of bible word written by Jesus or his fellows themselves.
So … good job, werkof! Gute Arbeit, Junge!
You are right … I spared some informations on purpose, because I was asked to
keep the article (more or less) “understandable for the average reader”. That was the prerequirement expressed by Focus/Chip magazine. Therefore, please excuse my
simplifications, for instance “programmers and enthusiasts” instead of “experienced
cryptographers”.
I am still convinced that Cardano will not “go to the moon” in the near future, yet. They
are scientists, not marketing professionals. As you might know, the best product must
not necessarily become the most appreciated technology! (Just compare Telegram/Signal
to WhatsApp …)
Long story made short. You made my day, guys. Keep up the good work!
Thank you for joining the forum and - first of all - mentioning Cardano on chip.de.
That was worth translating at least some paragraphs for the entire community here.
One of the things I try to do - together with @Chris28 - is to make techy complex things more accessible for non native English speakers (and yes I know my English is far from being perfect).
There are some whiteborad videos who already got German, Russian and Korean subtitles on
I am pretty sure they are trying to promote Cardano to publicity,
but compared to e.g. Tron it appears quite poor. There could be
much more hype around the project! But maybe it is their belief
not to cause too much rebellion before Cardano/ADA has really
become a market-ready competitor. Who knows … ?
My smart guess would be that they are waiting for Shelley to communicate more… I think ADA will get really more attractive when it’s out… At the moment I don’t really think they are aiming for the masses…
That’s a good point and perhaps true. Albeit, the recent agreement between Emurgo and MetAps plus for the use of ADA for mobile payments in South Korea is a leap forward.
If you look at marketcap and price curve at New Year’s Eve, this was completely separated from technical progress that it was clearly “unreal”.
Setting strong, well thought-out and stable foundations is a good idea if you want to build high and host many people. From my understanding the project is well funded at least until 2020 and a marketing driven price wouldn’t speed up the roadmap because their strategy is not like many others to bring an MVP to market as fast as possible. Peer-Review is quite the oposite.
I also have the impression that they are - presumably largely unnoticed - trying to create a little prestige for the blockchain industry in the decades-old established scientific crypto scene. Marketing based actions have probably caused a lot of damage here.
I am very impressed with the Cardano project’s mandate, but worry about the timely execution/realization of their plans. There is lots of talk about how Cardano will change the world for the better, but I worry about Cardano’s time lines for going live and consequently their business strategy. Will their peer review / academic philosophy, which typically has longer time horizons, hinder their chance of timely execution and success? This, I find, is the greatest risk with Cardano. Otherwise, there is nothing comparable out there .
