[ad_1]
Cardano: When will people realize its explosive potential?
- Since the beginning of this year, the network has made significant progress.
- Part of the cryptocurrency community still doubts the explosive potential of the project.
- Cardano has earned a reputation of “slow and stable”, which may prevent investors from seeing the potential of the project.
- After the network got involved in the smart contract function, it slowly and steadily won the game.
There are indications that Cardano has made great strides since its launch in 2015, and has certainly won the title of killer. The significant progress made by Cardano has made it one of the top five largest cryptocurrencies by market capitalization.
Despite these victories, some critics still do not believe in the explosive potential of the project due to the “slow and stable” development concept adopted by the project.
The advancement of smart contract functionality may be the trigger for the hesitant to see the great potential of Cardano.
Practical and steady is the key to winning the game
Critics of Cardano often cite its slow development compared to other projects as a reason for lack of confidence in its potential. However, Cardano’s team still dismissed the tags it received from the crypto community and moved forward steadily. This is a bit weird in the crypto space, because updates and releases can take weeks or months.
An example of Cardano’s slow development is the long-term release of Shelley updates, which can take years. One reason for Cardano’s slow pace is that they are constantly striving for perfection because they strive to create a solid foundation to build. Unlike Ethereum, which builds its structure before the foundation, it has to take time to update.
This slow and steady approach has brought some victories to Cardano, as part of the community has shown unwavering confidence in the project. This recently led Cardano to reach the 1 million milestone and resulted in 70% of ADA’s circulation being pledged in more than 600,000 pledge pools worldwide.
Stimulate faith in Cardano
The methodical approach has brought some breakthrough developments to Cardano. Alonzo White’s hard fork allowed the network to leapfrog Rubicon to achieve smart contract compatibility.
Before Alonzo White, the smart contract function on Cardano seemed to be a distant dream, but this hard fork overturned the script. It is expected that Cardano will fully support smart contracts in September, which may be the main catalyst for skeptics to believe in Cardano’s dream.
As the world moves towards energy efficiency and environmental sustainability, Cardano’s use of the proof-of-stake mechanism is another view that can increase confidence in the project. It is said that Cardano uses less than 0.01% of energy consumption, which makes it a reasonable alternative.
on the other hand
- Cardano is expected to fully support smart contract functions in September 2021.
- In view of the predecessor of the network, the integration function may take longer because it may be postponed to a later date.
Why is Cardano important?
Cardano was founded by Charles Hoskinson in 2015 and released in 2017 as a blockchain platform based on “peer-reviewed research and evidence-based method development.”
Through the innovative use of technology, Cardano seeks to build trust by setting high standards in terms of safety, transparency and sustainability. Cardano’s native token, ADA, has a market capitalization of US$37.8 billion, and at the time of writing, its trading price is US$1.18, ranking fifth among the top cryptocurrencies.
The asset reached a record high of US$2.46, the circulating supply just exceeded 32 billion, and the maximum supply was 45,000,000,000 ADA.
Email newsletter
Join to get the other side of encryption
Upgrade your inbox and send our DailyCoin Editor’s Picks directly to your inbox once a week.
[contact-form-7]
You can unsubscribe at any time with just 1 click.
[ad_2]
Source link
