The Future of Cardano: as Clear or as Uncleared?

By xuanling11 | Crypto Learning | 25 Aug 2021

In the crypto universe, the number 1 is always Bitcoin and the number 2 is always Ethereum. However, third place has always changed from time to time. Ripple, Dogecoin, and Litecoin were placed number 3 until got replaced. Cardano suddenly jumped into third place in August. 

So why Cardano became third place so suddenly? Is it because of approval for listing on crypto exchanges in Japan? We will find out in the article.


What is Cardano?

Cardano is an early version of a proof-of-stake cryptocurrency platform that was created in 2017. It is a research-focused community platform that focuses on sustainability, scalability, and transparency. Its cryptocurrency is ADA. 


Cardano’s mission

Cardano wants to create an equal opportunity financial platform that rich and poor use without any wealth gap.


Cardano’s founder

Charles Hoskinson is one of the Ethereum co-founders who eventually departed from Ethereum due to whether or not the Ethereum project to be commercialized.  

As Charles supported to commercialization of the Ethereum project which is different from Vitalik Buterin’s view, he got removed from Ethereum and created his own cryptocurrency platform, Cardano. 


Proof of Stake

In early 2012, people realized that the Proof of Work consensus was inefficient. Scott Nadal and Sunny King (pseudonym) created Peercoin using both Proof-of-Stake and Proof-of-Work systems.


Cardano’s accusation

Cardano founder Charles Hoskinson accused Bitcoin was too wasteful and Ethereum was too unsafe in 2017.


Accusation came true

Bitcoin is struggling with its energy consumption even nowadays and Ethereum forces itself into Proof-of-Stake to prevent 51% attack.

So all my other articles do links from one and others.


Sounds too similar to Ethereum 2.0

Cardano did what Ethereum needed to do a long time ago but they are doing it now.

Does Cardano make a future of crypto then?


Alonzo hardfork

A Dapps hardfork that helps developers to build their application from Cardano smart contract.

However, the platform is too similar to Ethereum but a better version with faster speed due to low adoption.


Future of Cardano

Even Cardano realized the earlier problems of Bitcoin and Ethereum, it slowly moved to follow their footsteps that did not create identity enough to separate them. It will make it harder for developers to switch from one platform to another simply just because of a faster speed while those two competitors continue leading the evolution.


In conclusion

Cardano is not a future solution but a contemporary one. It works out well because it's in the early phase of adoption. When users accumulate in the platform, it may experience a similar problem that Ethereum faced. It may need a breakthrough technique to separate its identity from Ethereum.


Photo by Nejc Soklič on Unsplash

Related articles:
Stablecoin is Not So Stable
CBDC: Stablecoin 2.0 or Stablecoin Killer
Chinese CBDC: the Ultimate Financial Weapon or Just another Copycat
DeFi Swap: Great Returns come with Great Cost
CBDC vs Cryptocurrency: the War of Privacy
Inflation vs. Bitcoin: How Speculation to Hedge Inflation has Failed in Short Term but may Create Opportunity in Long Term
Game of Three Kingdoms: CBDC vs. Cryptocurrency vs. TechCoin
Gold vs. Bitcoin: Digital Twin or Enemy
Volatility of Bitcoin: Threat or Opportunity
Lesson Learn from Robinhood IPO: Era of Crypto Exchange Comes to an End or a New Beginning?
Hypothetically, What if the Fed Fails to Control Inflation, Will Crypto Save Us?!
Stablecoin: We Ever Need Them More Than CBDCs
China FUD: Are We Done Yet?
SEC vs. Ripple: the Endless Game of War
SEC vs. Defi: What is the goal of the Defi?
City Coins: Are they the Era of New Coins?
Ethereum London Hardfork: How Hard does It Actually Fork?
Did the U.S. government just thumbs up on Bitcoin and down on Ethereum after the London Hardfork?
The End of Era for Crypto Exchange Platform?!
NFT: Digital Solution or Delusion?
NFT: The Future of Gamers' Assets
Is Bitcoin Untraceable Anymore?! It Depends!
Why Crypto Got So Political Suddenly: The Beginning Tale of Government Crypto Surveillance Program
Where are We Position Crypto at : the Problem with Money and Wealth
Crypto Hacking: How Did it Really Happen?
Bitcoin Mining Recover?! The Chinese vs. The U.S Strategy of Blockchain
The Legendary of Shitcoin: Meme to the 🌓 or Unique of 💎 or Simply just 💩
Defi: A Rainbow 5-Layers Cake
Crypto Economy: the Untold Speculative Financial System We will Live?
Red Alert: Lesson Learns from the Nearly Cashless Nation
Jack Dorsey’s Ambitious: Twitter wants to Become a Place of Freedom of Speech
What Categories Does Bitcoin Belong to or Does it Really Matter?
Quantum Financial System: The System Lost Itself in Quantum World
Doge 2.0: Who Let The Dog Out?!
Legendary Hacker: the White Hat into the Rescue
Crypto Hot Hub: The Best Place to become Crypto Incubator
EIP-1559: The Future of Ethereum Economy
Break the Fourth Wall?!
Robot Sucks: How Lousy Jobs AMMs Did to Ruin the DeFi
Disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational

How do you rate this article?



Check out

Crypto Learning
Crypto Learning

All article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.