Move aside Bitcoin and Ethereum! Move aside BNB! Forget about Polkadot, Polygon and Theta. Looks like Cardano is the next big thing? Looking at how well ADA has held it’s value for the last few weeks, I am pretty sure the market movers are seeing Cardano in relatively high regard. Well at least for the time being. And rightfully so. We will be seeing Cardano launching Smart Contracts next month or so. This is a huge step for Cardano and great for the project. Just imagine all the interesting things you can do with Cardano once Smart Contracts are in place. This is called the Alonzo Rollout.
And take a look at this article on ADA being the largest cryptocurrency being held in eToro. eToro is a relatively large trading platform with quite a decent number of users. So this would mean that a lot of people are bullish about ADA and Cardano. And we could see a huge pump in price of ADA next month which is something the cryptomarket honestly needs. For me I am always bullish about Cardano. I do have ADA in my crypto portfolio as well. But the problem with Cardano is that it seems their rollout is very slow. I guess when we have projects like Polygon with features rolling out so very often, we tend to believe that features can be easily implemented. However it is important to note that once an issue occurred in a project that has gone live, it might be very difficult to recover or modify. We are taking about blockchain here. An error in the code will have impact down the line, no matter what. So in a way, Cardano taking their time to ensure that the features are perfect is a good thing. But can be a bit frustrating though.
And can Cardano replace Ethereum? Well that is certainly something very difficult to answer but I think some day it might just replace Ethereum. As you can see, Ethereum too is suffering from various problems. And updates and modifications to Ethereum seems to be slow as well. Just imagine they were saying that Proof of Stake was coming to Ethereum a few years ago but we are still seeing Proof of Work for their transactions. This also shows that it might be good to get everything right first before trying to set the project or feature live.
By the way, did you guys know that the founder of Cardano Charles Hoskinson has a very colourful history? Don’t let his “fatherly” looks fool you. He is also known for his love for fast cars, women and alcohol. Not that they are really bad at all but when used in combination, seems like not such a good idea to me. But then who am I to judge someone with so much success on his hands? I am merely a small time retail investor.
Oh before I forget, I am no financial advisor. And you should always do your own research on what to invest. And do know that there are always risks when investing, especially in a volatile market like the cryptomarket.