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What does the future of Cardano Coin look like? – The best cryptocurrency to invest in?

 


What is Cardano?

Cardano is a blockchain protocol that is characterized by a combination of decentralization, scalability and security. It uses the efficient Proof-of-Stake consensus mechanism. Cardano's network token is called ADA. 

Cardano is known for advancing the blockchain according to scientific standards. The Cardano Foundation uses evidence-based methods and analyzes the weaknesses of other blockchains in order to improve their own blockchain. Cardano is considered the most technically mature blockchain on the market. 


How has the ADA price moved in the last few months?

In the last few months we have seen the ADA rate fall sharply with the onset of the bear market. The price rose to a price of over 3 dollars in September 2021. But in November 2021 the bear market set in, which brought massive losses for the ADA token. At the turn of the year, the ADA rate was only $1.37. 

In the first months of 2022, the price continued to fall sharply. In July 2022, the ADA rate was only $0.42. In the last few weeks, the price has stabilized slightly and also increased slightly again. At the moment, the price of the ADA is still at $0.44. The Cardano coin has lost more than 80% of its value since September.


What makes the Cardano Coin so special?

Despite Cardano's heavy losses, many fans and experts believe in the cryptocurrency and its long-term success. This is because the development of the blockchain at Cardano has an extremely good reputation. The blockchain will be further developed in the long term. The Cardano development team uses evidence-based methods to further develop the blockchain.


Cardano is developed in individual development phases that last several months and should bring an optimal result. Typical weaknesses of other blockchains are analyzed and improved in your own Cardano blockchain. This is what makes the Cardano Coin so popular with many investors.


What are the development phases of Cardano Coin?

The development of Cardano takes place in 5 major development phases . In these phases, a crucial feature on the blockchain is further developed. These phases are:


Byron : Creation of the foundation of the Cardano blockchain

Shelley : Introduction of decentralization 

Goguen : Introducing Smart Contracts

Basho : Increase in scalability 

Voltaire : Introduction of governance functions

We are currently transitioning to Phase 4, Basho, which aims to optimize scalability. In this article you will learn more about the Cardano Coin roadmap.


What are the latest developments in Cardano Coin?

At the moment, we are seeing some exciting developments with Cardano Coin. This is how the update of the Vasil hard fork should be introduced. This should lead to laying the foundations for increased scalability with the Cardano Coin. In addition, some CIPs (Cardano Improvement Proposals) will be implemented.


Furthermore, the Layer 2 solution “Hydra” is to be introduced on the blockchain. Layer 2 solutions continue to ensure transaction loads can be better distributed across a network, taking blockchain speeds and scalability to the next level.


Recently, however, there has also been criticism of Cardano. The new testnet for the Cardano Coin is said to have been massively flawed when carrying out the Vasil Hard Fork. The leak about the incorrectness of the Cardano testnet via a tweet on Twitter made waves for a short time. CEO Charles Hoskinson recently had to comment on the subject and appease investors.


Has Cardano's reputation been damaged?

In recent months and years, Cardano has lived off the extremely good reputation of its development process. This continuous development based on scientific principles is what makes the Cardano Coin so attractive for investors. But if there are mistakes in the development work, this reputation is extremely damaged.

This has now been the case with the buggy testnet and the commotion surrounding this bug over the past few days. So Hoskinson had to intervene and explain that errors in test networks can be normal and that is why things are tested intensively. So the excitement has died down a bit lately. But the course has seen massive losses in recent days. But that was also due to developments in the overall market.


What's next for the Cardano in the future?

The introduction of the Vasil hard fork could now be postponed somewhat after the faulty testnet. Still, she shouldn't have any major problems. This should result in the transition to the basho development phase being complete very soon. 


In the Basho development phase, the scalability of Cardano could be massively accelerated. In this area, the network does not yet belong to the elite among the protocols. But with the conclusion, transaction speeds of up to 100,000 transactions per second could be achieved. 


This would mean an extremely important step for Cardano. The Cardano Coin could actually become dangerous to Ethereum in the future. Cardano has been referred to as the “Ethereum killer” in the past. 


Is an investment in the Cardano worthwhile?

An investment in Cardano or the ADA Coin could be particularly worthwhile at the moment. Because the price is extremely low in the bear market at the moment. However, in the next bull market, and in the future in general, the price should rise sharply. Now there is the possibility for an extremely favorable investment. 

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