Cardano (ADA) is an amazing project, one that aims to tackle most of the challenges that are hindering large-scale blockchain adoption. One such challenge is scalability. Cardano aims to create the most scalable blockchains in the market, one that will make blockchain technology easily applicable for everyday business. While Cardano is a very solid project, critiques hold the view that it has one fatal flaw, and that’s time. While Cardano is doing amazing things, it is taking things slow, something that critiques believe could see it get overtaken by other projects.
However, this might not the case at all. While there are lots of projects competing to emerge top in terms of scalability and even launching solutions, none of them has been tested outside of the crypto ecosystem. And even within this ecosystem, many that are offering great looking scaling solutions are doing so at the expense of security and decentralization. Even Vitalik, the Ethereum founder, has in the past noted that scalability is a huge problem, one that comes with lots of compromises.
In essence, Cardano is not late at all. If anything they have a head start because by taking time, they have created the first proof-of-stake algorithm that is proven to be secure, scalable and doesn’t compromise on decentralization. Had Cardano (ADA) taken the route of most other projects and rushed to launch solutions, it would not have created Ouroboros. Now that this issue is sorted out, Cardano will without a doubt gain in adoption outside of the crypto ecosystem. It could gain usage in applications geared towards industries as diverse as finance, manufacturing and even by governments.
Secondly, by taking things slowly, Cardano is able to build in the code, solutions to problems that will affect most projects in the future. One such solution is quantum resistance. Part of the Cardano roadmap entails quantum resistance, and it will be a huge asset in the future. That’s because quantum computers will soon be a reality, and this means that most blockchain projects will be vulnerable. By building-in quantum resistance now, Cardano will become more valuable in the future, since it will be one of the few secure blockchain projects, not vulnerable to quantum hacks.
In essence, time is actually a major asset for Cardano. Other projects may rush things through in a bid to pump up prices, but over time, the cracks will begin to show. It is at that point that the true value of the Cardano blockchain will emerge. Those who invest in Cardano (ADA) while its still a work-in-progress stand to reap big benefits, as the project’s vision slowly begins to take shape.