Cardano may not be doing well at the moment, but there are lots of developments that could see its value shoot up significantly. Yesterday, Dlab announced four projects that will be accelerated on the Cardano blockchain. Dlab is an accelerator program that works with Emurgo (A part of the Cardano team) to drive up development on the Cardano blockchain.
The four projects that they will be accelerating, through a 14-week program are Catallact, Helixworks, Sempo and Tesseract. Each of these projects have the potential to drive up the profile of the Cardano blockchain. For instance, Helixworks is focusing on making use of DNA-tagging to eliminate the falsification of goods especially food and medicine, moving from one part of the world to the next. Here is some more information on Helixworks from Dlab.
“Helixworks’ proprietary MoSS technology integrates DNA-based ID tags to physical goods. When combined with digital ledger technologies, DNA-IDs provide an effective mechanism to track food, medicine and other supply chain goods that is secure, robust (surviving washing, extensive damage, etc), and extremely difficult to falsify.”
This is a big deal because, there are lots of fake products moving across the world, which may harm people. For instance, fake medicine moving across the world can and has hurt lots of people, especially the poor. In essence, there is a real demand for Helixworks and this could see it gain a major uptake in the market, within a very short time. All the others also have equally strong value propositions in the market. The result is that, once they hit the market, they could gain popularity fast, and drive up transaction volumes on the Cardano blockchain.
The best part is that, many more projects are on the way. This means that Cardano’s prospects going forward are quite good. Besides, these projects are a breath of fresh air in a market where most Dapps are either scams or just gambling applications. As such, when such amazing projects start launching on Cardano, they also add to the overall appeal and credibility of the Cardano blockchain. The result is that more enterprises will be comfortable launching projects on the Cardano blockchain, which adds to its potential. In the future, Cardano could be the blockchain for launching world-changing applications on decentralized networks.
The Cardano blockchain is ready for such a future. The IOHK has worked extremely hard to make Cardano a secure, scalable and after Shelley release, decentralized. That’s a feat that not many other platform blockchains have been able to achieve. Even Ethereum (ETH) is still struggling with scalability issues.
With such prospects, Cardano stands in a good position to beat its all-time highs in the next Bull Run. It hit a dollar when it didn’t have most of the developments that it has today. This means that in the future, Cardano (ADA) could easily hit over $10 a coin if Bitcoin (BTC) outperforms its all-time highs. It’s a worthy investment from a long-term perspective.