Sirwin
Sirwin

Cardano (ADA)


“A society grows great when old men plant trees in whose shade they know they shall never sit.” -Charles Hoskinson

Innovation, community, individual power, freedom and opportunity for all. The developers of this unique blockchain network set out to build their platform on these values. The fruits of their labor show in their intention to positively change the world; Cardano, powered by native token ADA, is changing the way people connect, transact and work together! 

They’re one of our favorite projects out there. It’s no surprise when they stand for the same things we do; projects like Cardano make it clear why we at ofthefreemarket.com talk so much about the value of digital currency and decentralized finance. Their group of developers put their money where their mouth is as they continue to innovate and pursue this mission of positive global change. 

 Currently the #3 most traded digital asset by volume, at 2.44 USD/ADA at the time of writing. It’s no wonder why over the past few days they’ve been exchanging at or around all time highs. People are starting to turn their eyes to the changes that Cardano is making to their network. The innovation carries onward as they step into the ring as one of the largest currencies.

What is Cardano?

Cardano is a peer to peer, decentralized, self-governing community and blockchain network. As mentioned before, they’re a project that is focused on making the world a better place. Pursuing solutions to problems that intermediary banking systems bring, as well as new technology to move the DeFi movement in the right direction. 

Ada Lovelace

The protocol is run on native token Ada, named after the “first computer programmer”, a famous mathematician from the 19th century named Ada Lovelace. Cardano exists as a blockchain which functions in the secure and efficient transfer of data and transaction information. Ada is transferred on Cardano through a Proof of Stake consensus, with an exceptional language behind their validation process; the code used to verify looks for strong evidence based validity of a transaction. 

Their platform is built for scalability, security and interoperability. As the developers continue to pave the way, Smart Contracts and dapp capabilities are being implemented into their system. The opportunities of making such changes will bring exponential growth in the value of the network and its operational power. Cardano is moving things ahead as they seek to be the top choice for real world utilization. 

Created in 2017 by Charles Hoskinson, Cardano has come a long way. The future is bright for this man’s platform, for he has made it to be not only his, but yours and mine as well. Growth and adoption are most certainly coming to the blockchain. 

Their Values

Focusing on five core principles has resulted in the reputation that Cardano carries. People, purpose, technology, research and opportunity. People are the core asset- decentralization only works when a large number of people hold more power than the few. The purpose of Cardano is to unite people, bring solutions and freedom to all. Keeping this goal in mind helps to build a more applicable and diverse network, producing and utilizing technology to sustainably build a better future. Technology is nothing; if anything it’s subpar, without research and due diligence. Cardando brings the best, so that opportunity may abound for all. These principles go hand in hand on the path to greatness. Keeping them in order and in mind only enhances the system as a whole.

The Shift of Ada

Other Things to Admire

Integrity, diligence and hard work are what sets Cardano apart from other projects. Unlike others, they intend to put their best foot forward with every step. Research and providing the best technology they possibly can go hand in hand. Cardano developers don’t mess around, they seek nothing but the best; things that’ll work, solutions that will last.

This means that instead of working out bugs and issues along the way, the developers seek to have all glitches in the system worked out before a product or service of theirs comes into play. Proper studies are absolutely essential to determining what actually works and how well certain programs work. Cardano makes sure they give out what they promise. 

Every step in development and research is transparently accounted for, giving the Cardano community a safety net of network communication; they desire their users to be informed on their processes and growth. The vision for a better future comes with putting their money where their mouth is- Cardano holds pride in their work, from development to practice. 

Smart Contracts = More Application

Over just the past couple weeks, Ada’s price has shot up nearly 70%. Bringing it to a 117% rise in value in the past 60 days, and 1,939% in one year. Slowly but surely, Cardano has diligently brought the technology of Smart Contracts to their platform. With a release date of the Alonzo Upgrade coming in mid-September, the value of this blockchain will only continue to see gains. 

As we have seen with Ethereum and the Binance Smart Chain (BSC), Smart Contract technology changes the game of DeFi. They open the doors of application and opportunity with the vast use cases in the DeFi realm. They allow a blockchain to not only store and transfer data securely and decentralized, as with the current system, but to also allow for dapps, games and NFTs to be present and accessible by users. 

Competition?

When more things can be done, more traffic will inherently follow. Smart Contracts are essential to bringing ease of use to the DeFi audience. Without smart contracts and dapp capabilities, decentralization cannot be brought fully to fruition. Smart Contracts make it possible for users to actively use the tools that DeFi offers to cut out unnecessary intermediary action. 

The Future of Cardano

Cardano is most certainly a force to be reckoned with. When these smart contracts come into play Ada is going to the moon. Their network is going to see a definite rise in traffic and overall trading volume. Being the prudent researchers they are at Cardano, we can expect something good come September. 

Their careful research and commitment to bringing opportunity to everyone is what makes them unique and strong as a rising star. They’ve put time and patience into creating something that reaches far and wide in creating a sustainable future for all. The focus is on real world application and integration- bringing solutions to the table. 

Traits like these are what fuel their innovation in this competitive sphere. It won’t be long before certain blockchains will either set their place in the market or fall off the face of the earth. With integrity and innovative passion like that of Cardano, I believe they have a bright future ahead of them. 

If Cardano can release their smart contract platform before Ethereum can release their upgrades to a PoS consensus (which they are scheduled to do), Ada could very well flip ETH in value, or at least in trading volume. We have seen the ability of Pancake Swap on the BSC alone to outperform the Ethereum network. It might be safe to say that Cardano will have more applicable usage than Binance’s biggest performer. They can most probably handle exponentially more traffic than Ethereum, already being on PoS. It will be fascinating to see the success of this project. 

Always A Favorite

Much like the team here at ofthefreemarket, Cardano is of the people and for the people. They’ve created a network to bring the power of banking into the hands of those who make up the system, not into the ones running it. We admire the integrity Cardano carries along the path in enhancing financial resources, and we support their mission. We love being in the piece of history in which we are, seeing the rise of  DeFi systems and the opportunity that lies within them all. Especially when we see projects like Cardano moving the vision forward. 

 

Written by SMH from ofthefreemarket.com on August 22, 2021

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OfTheFreeMarket
OfTheFreeMarket

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