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Why 2022 could be the best year for Cardano

 


Cardano has seen a significant downtrend in the past few months after a strong run. Initially, Cardano successfully moved to a proof-of-stake consensus in 2020, shortly after the D parameter had reached "0", which signaled the decentralization of block production.

Later a new era began with the first of 3 major Hard Fork Combinator (HFC) events with the implementation of "Allegra", followed by "Mary". These upgrades brought new capabilities to the Cardano mainnet, which were completed with "Alonzo", which introduced smart contract functions into the blockchain.

This ecosystem has seen a surge in projects as developers and users rush to take advantage of the UTXO model. With that in mind, community member "ADA Whale" shared its predictions that could fuel another rally for the underlying cryptocurrency of the Cardano network.

ADA Whale mentioned the potential increase in the number of transactions and active addresses at Cardano. The investor believes these fundamentals could increase by a factor of 5, which could lead to a massive wave of adoption well into 2023.

Cardano remains one of the most actively used networks. Scaling is done through various streams, first incrementally to keep up with growth and then exponentially in 2023 (according to his forecast). Investors estimate that there could be more than 250 decentralized applications, DeFi platforms, Launchpad and more on the network by the end of 2022. ADA Whale added:

Cardano DeFi is starting up slowly but TVL> $ 10bn eoy. Dapp store with certification levels goes live. Ease of use is leading people to replace their bank stack with Cardano DeFi. Digital identity projects are thriving, connecting DeFi to the real world. UTXO DeFi will be different and better

Cardano and its potential for the years to come

In addition to its security, Cardano offers low fees, energy efficiency through a green footprint, and corporate adoption worldwide, according to ADA Whale. These include World Mobile, Singularity, and others.

The above collaborations bring the ecosystem into different sectors with tight government agreements. Cardano will strengthen its partnerships in the years to come as it seeks to provide people with an open, decentralized, and accessible network to manage and support a wide variety of basic services.

In the meantime, the network is developing interoperable capabilities. ADA Whale mentioned Milkomeda, a second-layer solution for Cardano with EVM compatibility. These types of solutions will help bring more users and developers on board.

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