In a competitive world of cryptocurrencies, value is what a digital coin should constitute. Hype only shifts attention and has never been a sustainability tool. Cardano (ADA) is placed 6th in market cap slightly behind NEO at 6th while Ethereum is at position 2.
NEO and Ethereum are currently warming their laurels while Cardano is working on their new releases coming up before the end of March. The Cardano meet ups scheduled every month, this months’ session should ring bells to what the community expects going forward.
What is making Cardano (ADA) Valuable?
The near 2000% growth for Cardano brought it into the lime light late last years. This could be the earliest reason why it is currently ranked at number 7 with a market capitalization of $8.793 million. The little known ADA has been steadily growing ever since.
Most cryptocurrency enthusiasts judge the Cardano platform from the surface and end up missing the point. This is a blockchain system that supports its users and developers and gives them an upper hand through App development using smart contracts. While Ethereum is a leader in this field, it prides itself with a big user base while NEO is essentially focusing of “smart economy”.
The value of Cardano is based on its first use of academic supported open code that is peer –reviewed. The platform riles on a code that is poised to support the world’s economy. This is backed by a team of research experts who have come together to come up with the Cardano ecosystem and take it to the next level.
Cardano (ADA) is built taking to account where first and second generation cryptocurrencies failed. Their focus is about meeting the modern user demands and forecasting on the future using blockchain technology. Most first and second generation platforms focused only at what the immediate consumer needs were.
Cardano has broken these limitations and if the current upgrades are anything to go by, their future will add value to the user and the platform as well. With blockchain, there is no room to trial and error; getting things right is the only way to address the problems of transaction speed given the immutability of the technology.
How Unique can Cardano be?
Switching from the Ethereum ecosystem to the native Cardano one will give it flexibility and independence to developers and enable them meet their envisioned goals. Ethereum might have the best resources on the platform but they are not exploiting them fully to bring fresh ideas to the cryptocurrency landscape.
The Cardano interoperability is one aspect that will make the switch seamless. Its unique technology, wallet, coding language and proof-stake protocol will determine the success of the platform. Cardano is yet to be fully functional and Q2 will usher in the release of Shelley which brings onboard Cardano several features. These include the proof of stake ecosystem, more rewards to run full nodes, upgrade in their wallet and the release of on-chain voting.
What way for Cardano (ADA)?
Cardano is yet to be launched and you cannot compare it with Ethereum today. They are building their system with each phase getting special and keen attention. Their treasury and governance function are unique and focuses on the user base and are ready to deliver on their promises.
In order to get the real Cardano (ADA) value, you need to have a look at its performance and the level it supports the user base. Cardano might not have a lot of followers at the moment but once the systems are put into place, adoption and tractions will be the next frontier.
Cardano, Ethereum and NEO markets are totally different and none can replace the other. They have different objectives and each has a unique Route to Market (RtM). The only point of confluence is closing the gaps technically in the market.
With the Cardano (ADA) London Meet up scheduled for tomorrow (28th February), a lot of reaction will be expected from the market. Going by their road map a lot is expected and a shift from the activity in the market for ADA. Now trading at $0.340235 (4.54%), the new month might turn out promising and getting to Q2 at $1 seems possible.