A few hours ago, Charles Hoskinson tweeted about the sonic whitepaper, stating that it was a major progress for Snarks, and the community is excited about it. The excitement comes from the fact that Sonic is a huge step towards scalability and privacy. As per the whitepaper,
Sonic supports a universal and continually updateable structured reference string that scales linearly in size. Sonic proofs are constant size, and in the batch verification context the marginal cost of verification is comparable with the most efficient SNARKs in the literature. We also describe a generally useful technique in which untrusted “helpers” can compute advice which allows batches of proofs to be verified more efficiently.
From the tweets, the community would love for it to be added to Cardano. That’s because it would add to the scaling capabilities of Cardano, which would in turn add to its overall appeal, and drive mass adoption. However, if Charles Hokinson’s responses are anything to go by, this might take time, if at all it will ever be implemented. That’s because, from the onset, Cardano is a project that is grounded on the science philosophy. As such, any new ideas must be peer-reviewed first, before being implemented on Cardano (ADA). That’s why his key response to the community has been,
“We usually try to submit for peer review. This particular work is more likely to end up in other products.”
Nonetheless, it is an idea that now has the attention of the top guys at the IOHK, which means that it could become a reality on Cardano in the future. The best signal for that would be its inclusion at the IOHK summit in April. If it will be discussed during this summit, then there is a good probability that Sonic could be added to the Cardano stack.
However, even without sonic, Cardano is already a rock solid project. At this point, it is probably the best platform blockchain out there. It is scalable, secure and everything about it is peer reviewed. Cardano takes pride in the first provable Proof-of-Stake algorithm (Ouroboros). But the best part about Cardano is that the key people behind it are fully aware of the realities of the real world.
Cardano may be an academic project, and mainly driven by tech academics, but they are also great at creating awareness. For instance, Charles Hoskinson has for some time now been crisscrossing the world selling Cardano to the world. This has seen him develop valuable ties in the developing world in places like Ethiopia, Uganda and Mongolia. These are valuable ties that could see the Cardano blockchain grow exponentially in adoption. As this adoption grows, so will the value of Cardano (ADA).
Therefore, the long-term prospects of Cardano look good. It may not be performing so well at the moment, but that’s due to the crypto bear. Once the market turns bullish, Cardano could easily emerge as one of the best performers. Cardano (ADA) at $5 would be a realistic possibility. The year 2017 showed that anything is possible in this market.