Yesterday, Charles Hoskinson, the CEO of the IOHK (the team behind Cardano), tweeted his appreciation to the community for supporting Cardano, in spite of all the FUD that is constantly spread about this project. Most of the frustration that Charles was expressing was with regards to the never ending narrative that Cardano (ADA) is just a whitepaper that has nothing going on for it. His frustration is warranted given how much Cardano has achieved in the past 12-months. Cardano is a serious project, and thousands of hours of research and scientific research have been committed into the development of this third generation project. Most of what Cardano has achieved could take other projects years to achieve.
The only reason why Cardano is constantly thought lowly of, is because it is misunderstood. Most people got into crypto after then 2017 pump, and their primary motivation for investing was the price. Since prices started going south, people turned to hype coins, those that promise big things, in order to pump prices. The attraction to these kind of projects is quite understandable, when someone’s portfolio is down by 90%. Cardano never went the hype route. In fact, even as prices plummeted, the IOHK team focused on the technical aspects of the project. All Cardano related announcements are usually technical in nature, and don’t really elicit much excitement in the average investor. That’s why there is never much hype around Cardano (ADA), and in such an environment, FUD is likely to thrive, and that’s the situation with Cardano (ADA).
However, this FUD will have no effect on Cardano (ADA) in the long run. That’s because, as things stand, crypto hype is dying down. Most of the expectations for quick riches that people had in 2017 are pretty much gone. Slowly, fundamentals are taking over, as investors become more aware of what blockchain is all about. This places Cardano (ADA) and other fundamentally sound projects in a good position to grow, this year and for years to come. Cardano has the answer to the problems that are holding back blockchain mass adoption. For instance, most POW blockchains are having to confront the problem of scalability. Cardano (ADA) has solved this problem with its revolutionary Proof-of-Stake algorithm called Ouroboros. This is not just an ordinary POS algorithm, it makes Cardano (ADA) secure, decentralized, and scalable. This places it in a unique position for growth, as blockchain goes mainstream.
With such capabilities, Cardano (ADA) has a realistic chance of taking a spot in the top 5 in crypto. In fact, of all platform blockchains out there, Cardano (ADA) has the most realistic chance of taking on Ethereum (ETH) and winning.
However, this potential won’t be obvious to the masses in the short-term. It takes a deeper understanding of blockchain to understand Cardano (ADA). Those who understand it stand a good chance of becoming the next crypto millionaires. Cardano (ADA) is like bitcoin (BTC) in its early days. Only those who could get the tech, became multimillionaires out of it.