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Why Cardano can be considered a good investment?

By CrSanity | Irregular Format | 3 Apr 2023


Why is Cardano a good investment?

Are you looking for the next big thing in cryptocurrency investment? If so, you may want to consider investing in Cardano (ADA). This innovative blockchain platform is quickly gaining attention and support from investors worldwide. In this post, we'll explore why Cardano is a great investment opportunity, including its unique features and growth potential. So buckle up, and let's begin the shilling process.


Cardano short history

 

Cardano is a blockchain platform that was founded in 2015 by Charles Hoskinson, who also co-founded Ethereum. Cardano is built on a proof-of-stake consensus algorithm called Ouroboros and aims to solve some of the shortcomings of other blockchains like Bitcoin and Ethereum.

Cardano has been hailed as the "third generation" of blockchain technology and is seen as a major competitor to Ethereum. So far, Cardano has seen success with its native token Ada, which is currently the 7th largest cryptocurrency by market cap.

As one of the oldest cryptocurrencies around, Cardano (ADA) has a lot to offer investors. Not only is it a platform for smart contracts and decentralized applications (Dapps), but it is also highly scalable and environmentally sustainable.


 

Some of the new features that Cardano is working on include:

 

Hydra



But what exactly is Hydra? In short, it is a sidechain solution that allows for near-instant transactions with high throughput. This makes it an ideal solution for businesses that require fast and reliable transactions, such as those in the e-commerce or gaming industries.

What's more, Hydra is fully compatible with Cardano's existing infrastructure, meaning that there is no need to fork the blockchain or create a new token. This makes it much easier and less risky to implement than other sidechain solutions.

 

Mithril

 

Mithril is a stake-based multi-signature scheme that leverages the existing Cardano network to provide certified snapshots of all or part of the blockchain state. These snapshots can be useful in multiple use cases such as secure voting, data exchange, and synchronization between applications, sidechains, light wallets, etc.

 

Input Endorsers

 

"Input endorsers are a feature of the Cardano blockchain's smart contract system that help to ensure the validity and efficiency of certain types of transactions.

In Cardano, input endorsers are responsible for verifying that inputs to a transaction meet certain requirements, such as having sufficient funds available to cover the transaction fees. Input endorsers are also responsible for signing the transaction with their own cryptographic keys, which provides an additional layer of security and helps to prevent fraud.

By requiring input endorsers to sign off on certain types of transactions, Cardano aims to prevent spam attacks and other types of network abuse, while also ensuring that the blockchain remains secure and efficient. Input endorsers also play a key role in the governance of the Cardano blockchain, as they are able to vote on proposals and changes to the network's protocol."


What are things present on Cardano?

 

Cardano is a good investment because it is a platform for decentralized applications that are being developed by a team of experienced researchers and developers. The Cardano platform is being built on a new blockchain technology designed to be more scalable and efficient than existing blockchain platforms. The Cardano team is also working on developing new features and applications that will make the platform more user-friendly and useful for businesses and individuals.

Some of the features and applications that are currently in development for Cardano include the following:

 -A social media platform (Cardano Spot)

- A decentralized exchanges that will allow users to exchange ADA for other cryptocurrencies and fiat currencies. that will allow users to trade cryptocurrencies without the need for a third-party exchange. (Wingriders, Minswap etc.)

- A payment gateway that will enable businesses to accept payments in ADA, the native cryptocurrency of the Cardano blockchain. (AdaPay)

- A governance system that allows all of its users to govern the future of Cardano (Project Catalyst)


The Cardano team is constantly working on adding new features and applications to the platform, so there is always something new in store for investors.


My thoughts

 

It is still very early to make statements on which Cryptocurrency projects will win and which will lose, but in my opinion, Cardano is a strong competition to many of the top Cryptos. Despite its current development centralization, it aims to hand over power to the users.

It has resources, some of the smartest people in the Crypto industry, and most importantly, a very devoted and active community. 

But as it happens with Cryptocurrencies, only time will tell if Cardano is destined to prosper or fail.

What are your thoughts? Share them with me in the comments.

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None of the information in this article should be considered financial advice, it's my analysis and facts I wanted to share with this wonderful community.

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CrSanity
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I'm a crypto investor, enthusiast and a beginning writer for Publish0x.


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