Cardano (ADA) is without a doubt one of the most interesting crypto projects in the market. Though it’s still a work-in-progress, most of the things they are working on could propel this project to the top in the future. One interesting aspect of the Cardano project is quantum resistant signatures. As per the Cardano roadmap, the team is 50% through, with works on quantum resistant signatures. Once completed, it feature will protect funds held on the Cardano blockchain from being compromised using quantum computers.
It has been widely known for some time now that quantum computers are a major existential threat to cryptocurrencies. That’s because they have the capacity to break the cryptographic algorithms that are used in blockchain, but they never get much attention in crypto sphere. That’s because it is widely assumed that the technology is far-off. However, these computers may actually be a reality sooner than most people expect. They have been under development from as far-back as the early 2010s. With such a long-time under development, it’s only logical that quantum computers could be closer to becoming a reality than most people think. As such, the quantum resistant signature aspect to the Cardano project could actually end up being its most important one, and it will have wide ranging implications on the project.
First, it could become the backbone that aids in the adoption of Cardano (ADA) by institutional investors. That’s because for institutional investors looking to put money in crypto, security is an absolute concern. If there is any risk that funds could be compromised, then it’s an instant turn-off. As a matter of fact, the reason why institutional players have been slow to invest in cryptos is because of security. As such, once Cardano completes this aspect of its roadmap, it stands to attract loads of institutional money.
With quantum resistance, businesses too will be more confident in developing their systems on the Cardano blockchain. That’s because it offers an element of long-term sustainability to it. At the moment, the main issue hindering the adoption of blockchain tech is scalability. But this is now being resolved, with Cardano already having resolved this with its Ouroboros proof-of-stake algorithm. Therefore, in a few years, quantum resistance will be the key issue, and on this basis alone, businesses, especially those dealing with sensitive data, can bank on the Cardano blockchain.
For Cardano investors, these developments all add to the overall value of Cardano (ADA) as an investment. They make Cardano a complete project that is perfectly suited to do what it is meant to do. It is scalable, cost-effective, and extremely secure. Very few platform blockchains come close to what Cardano can achieve in real-world application. For those who are patient enough to hold on to their Cardano (ADA) with a long-term picture, this is one project that will generate them great wealth. It’s massively undervalued at current prices, when it’s hovering at around $0.10. $10 Cardano (ADA) is very much possible in a few years.