Will Cardano ADA be the next big Crypto Assets winner?
In a recent video from Crypto Assets-based YouTube channel Cheeky Crypto, the presenter highlighted Cardano's (ADA) approach, which sets it apart from its competitors, particularly its reliance on "academic rigor" and "research-driven development."
The presenter abandoned the bullish rationale for Cardano and highlighted the core use cases of Blockchain; starting with the video, the presenter defined Cardano as a PoS (PoS) Blockchain platform developed with a "methodical, evidence-driven approach" firmly rooted in the principles of "scientific research and academic thought."
According to the moderator, the Cardano development team's goal is to "restore trust in the global economic system." This involves the creation of technologies that "promote safe, transparent and sustainable international business practices".
After delving into the video, the Cheeky Crypto host revealed that in addition to advanced technology, the platform is designed to have a "real-world impact," especially in developing regions.
According to the moderator, the platform has launched projects to provide financial services to the global "unbanked population", which is estimated to be about $1.7 billion. Cardano's partnership with WorldMobile in Africa is an example of this emphasis. The host noted: they (Cardano) are working with projects such as World Mobility to connect more people to the world, and in my opinion, they are also creating new economies and changing the lives of many people.
The Cheeky Crypto host also noted Cardano's contribution to the Decentralization Applications (DApps) space. The host said Cardano, "focused on security and scalability," is creating a more stable environment for DApps.
When discussing the capabilities of Blockchain, the moderator identified it as a "third-generation Crypto Assets" that addresses the common challenges of "Layer 1 Blockchain Adoption." In response to these challenges, the moderator revealed: This issue covers many Blockchain issues, including topics such as scalability, interoperability, sustainability, and security. As a result, Cardano seeks to address these issues at their root by developing design principles and engineering best practices.
Summarizing the use cases highlighted by the moderator that made him bullish on Cardano, he mentioned that initially, Blockchain could only process a limited number of transactions per second. The team developed Hydra, a layer-2 scaling solution that overcomes this problem by leveraging State Channels for off-chain transaction processing.
The launch of Hydra marks a significant leap forward, with Cardano theoretically being able to process more than a million transactions per second, greatly enhancing the capacity of the network. According to the moderator, these use cases are the reason why Cardano could become one of the "frontrunners" in the Crypto Assets space in the future.
At the same time, despite these technological advancements, Cardano's native TokenADA has been experiencing bearish price action. ADA is currently trading at $0.460 and has lost nearly 10% in value over the past week. Analyst Ali recently compared ADA's current integration phase to the pattern at the end of 2020. According to Ali's analysis, if Cardano follows the trajectory of the end of 2020, ADA could see a significant rise and potentially reach new highs.
(Source: Samuel Edyme)
