In a market awash with projects, all presenting themselves as the next big thing, one project stands out, and that’s Cardano. Cardano stands out because it is never hyped. In fact, the average AMA by a person like Charles Hoskinson is geared more towards the technical aspects of the project, than at pleasing price speculators. Yet, Cardano continues to grow in strength and popularity. So what makes it stand out against hype projects that are competing with it? There are a few factors that make Cardano (ADA) stand out in the market.
Prioritization of research
One of the factors that make Cardano (ADA) stand out is its focus on research. All through the crypto bear market, many projects have rushed to announce developments as a way to pump prices. Cardano has been unaffected by this. Rather than rush to release updates just for the pump, it invests more time in research. The result is that, whenever Cardano updates are released, they are solid, and take Cardano closer to its application in the real world. Case in point is Ouroboros.
Ever since the issues of energy and scalability took prominence with regards to POW mining, lots of projects have rushed to announce that they have highly efficient POS algorithms. However, most of them are flawed, with security vulnerabilities and a real risk of centralized control.
Cardano (ADA) took the longer route of research first, and came up with Ouroboros, the first provable POS algorithm that solves the issues of security and decentralization. This is a big deal because it makes Cardano one of the few projects that will allow for the development of Dapps in a truly decentralized, secure and efficient environment. It took time to research on Ouroboros, but the impact is long-term, and more sustainable.
Emphasis on testing
Like on the aspect of research, the teams behind Cardano put emphasize on testing. Before any update is released to the public, it is thoroughly tested to ensure that it works. The IOHK and all the other teams behind Cardano (ADA) don’t just rush to release anything, only for flaws to be discovered later. This has helped Cardano build a reputation that whenever anything is released, it actually works. There are no in-betweens. It either works, or it is delayed until it is fully tested and proven to work. This is the characteristic of a project built for business, regardless of the day-to-day crypto price movements.
With such strong fundamentals, Cardano comes across as a project that has what it takes to make it big in the long run. It may not doing so well at the moment, but it has better chances of making it than most projects. As society becomes more receptive to the idea of decentralization, projects that are ready to take on the workload of decentralization like Cardano (ADA) will thrive. Cardano (ADA) could easily be the platform for the creation of a fully functional decentralized economy.