(ADA) Cardano Coin Has The Potential To Compete With Larger Coins - Watch Out Ethereum (ETH)

(ADA) Cardano Coin Has The Potential To Compete With Larger Coins - Watch Out Ethereum (ETH)

Cardano’s mission is “Making The World Work Better For All”

Cardano Coin was released in September of 2017, and has grown since, their current Diluted Market Cap is sitting at more than $34 Billion. Like Bitcoin (BTC) the ADA coin has a maximum supply of 45 billion coins. Cardano’s mission is “Making The World Work Better For All ''. Cardano is a blockchain platform that was designed for change makers, innovators and visionaries. The platform has the tools and technologies that are required to create possibility for the many, as well as the few and to create global change.


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Cardano is determined to redistribute the financial power to the margins from the unaccountable structures.

Cardano is a proof-of-stake blockchain platform. Proof-of-stake is Cardano’s way of verifying transactions, which is necessary due to the decentralised nature of cryptocurrencies. With proof-of-stake, the owners of Cardano can stake their coins which then gives them the right to check new blocks of transactions and add them to their blockchain. Cardano is determined to redistribute the financial power to the margins from the unaccountable structures. Engineers work with the team to achieve this.

Cardano was the first proof-of-stake platform to be founded on peer-reviewed research and developed through evidence-based methods. The platform provides unparalleled security and sustainability to the decentralised applications, systems and security through making use of pioneering technologies.

Cardano believes that their proof-of-stake and Ouroboros are the most environmentally sustainable blockchain protocols.

Cardano believes that their proof-of-stake and Ouroboros are the most environmentally sustainable blockchain protocols. The Cardano platform is the first blockchain to implement the first peer-reviewed, verifiably secure blockchain protocol. The Ouroboros allows Cardano decentralisation, Ouroboros allows the platform to grow according to global requirements without badly compromising the security.

Cardano is piling their resources to try and fix the scalability and resilience issues experienced by the more dominant coins, such as Bitcoin and Ethereum.

Advantages of Cardano:
  1. Cardano restores trust to global systems, using science they create a more transparent, secure and sustainable foundation for systems to govern, enterprises to grow and for individuals to exchange and transact.
  2. Cardano is green and environmentally friendly.
  3. Cardano has a two-layer core architecture making its coin mining process more efficient.
  4. Cardano has a Clearing Level (CSL), this allows users to instantly trade ADA with lower fees.

The sustainability of Cardano could be the one trait that gives the coin the upper hand over most of the others.

How bright is the future of Cardano?

Experts believe that Cardano could be able to compete with Ethereum in the future thanks to its proof-of-stake method. This is because Cardano uses their proof-of-stake as security to keep the system running, ulike Ethereum which relies heavily on computing power and environmental resources to maintain the blockchain.

The proof-of-stake method has become so popular and intriguing that even Ethereum plans to switch in the future, and many investors are switching from Ethereum to Cardano.

How to invest in Cardano:

The Cardano (ADA) coin is listed on many major exchanges, it has a lot of trading volume and liquidity.

  1. It is necessary to create a coin base account. One of these accounts will also give you access to more coins.
  2. Buy Cardano.
The past, present and potential future price of Cardano (ADA).

When the ADA coin was launched, there was an initial price surge but for a while after the price surge, the growth was pretty stable. In mid 2021 the price surged to above $2.5, yet has since fallen again.

The price of Cardano is currently on a negative trend, there are many possible reasons for this, one being the current wider economic market causing a risk-averse attitude. In general there is currently negative investor sentiment in the crypto market, which means Cardano is not the only coin having price trouble. In an attempt to flip their current price trend, the developers of Cardano recently increased their block size by 10%. However, this move did not have the desired effect as the price has continued to fall since the announcement.

Cryptocurrencies are normally a volatile market, because of this it is difficult to read the future market and with current wider markets as they are at the moment, it is hard to predict where this coin is actually headed in the future. Although ADA has potential to compete with larger coins, it is still in question on how long this coin may be around for.

(ADA) Cardano Coin Has The Potential To Compete With Larger Coins - Watch Out Ethereum (ETH) - 1

Cardano (ADA) Price Chart

For this coin there is potential for high returns and low barriers for entry. However, given the current market sentiment and its potential for change if situations in the wider market improve, there is a possibility for this coin to recover in the future.


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Sources: Finance.yahoo.com, cardano.org, cardanofeed.com, capital.com, thecollegeinvestor.com, fool.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.