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Everything you need to know about Q4 about Cardano (ADA)



 What is Cardano?

Cardano is a blockchain network that was launched in 2017 and set itself the goal of developing a blockchain that optimally combines the 3 areas of decentralization, scalability and security. Cardano's network token is the ADA, which can also be purchased by users and investors.


Cardano

Cardano is characterized by the fact that the blockchain is being further developed in cooperation with scientists according to evidence-based standards and is not geared to commercial use in the short term, but is geared towards the long term and sustainability. As a result, Cardano is considered technically excellent overall and can combine the different areas of an optimal blockchain very well. 


How will Cardano be further developed?

The further development of Cardano takes place in different development phases. In 5 phases, the blockchain is to be further developed and improved in certain areas. In this article we describe the different phases in more detail. 


Cardano Roadmap

In 2021, the ADA price rose massively after the Goguen phase in development was completed. Cardano was able to execute smart contracts for the first time , which led to massive growth of the network, so that the ADA price rose above 3 dollars.


At the moment, Cardano is in transition to the next phase of development called Basho. At Basho , the scalability of the Cardano blockchain will be increased. Cardano should be able to execute up to 100,000 transactions per second. This could make Cardano the fastest blockchain on the market. 


Cardano News: How will the Vasil update affect Cardano?

Key Cardano news included an event late in Q3. On September 22, Cardano took an important step in the basho development phase. The Vasil hard fork is a first performance update intended to improve the speed and reliability of smart contracts. Vasil now allows Cardano to grow faster via its smart contracts . 


Cardano Course

Above all, Vasil ensures that the size of transaction data can be compressed, which greatly increases the efficiency of executing smart contracts. This means that it is now also possible to run more complex applications with Cardano . Because in many areas Cardano still has a lot of room for improvement.


What can Cardano improve in the fourth quarter of 2022?

One of the positive news about Cardano is the fact that there are now 3,000 smart contracts on the blockchain. Improvements under Vasil could move that number towards a five-digit number in the fourth quarter. 


Furthermore, the Total Locked Value (TLV) for the DeFi applications at Cardano is 75 million US dollars. There is still massive upside potential here. With this number you are even behind deeply fallen tokens like EOS. Improved efficiency according to Vasil should allow this area to be massively expanded.


Furthermore, there are no stablecoins at Cardano so far. Well-known stablecoins such as USDT and USD do not yet operate in the Cardano network. A new algorithmic stablecoin called DJED is said to be built on top of the Cardano blockchain, putting Cardano on the map in this space. 


How should Cardano continue to become more scalable?

The Vasil update is meant to be just the beginning of the network's scaling efforts. The Cardano news also includes the fact that scalability is to be continuously increased in the future. The goal is the introduction of the Layer 2 solution "Hydra" . It is the equivalent of sharding on Ethereum.


In theory, it should even be possible with Hydra to carry out 1 million transactions per second. It is difficult to say whether this is possible in practice. On the part of Cardano, however, 100,000 transactions per second should be realistic in practice. 


When can Cardano Basho close?

At the moment there is no known timetable for the implementation of Hydra and the completion of the basho development phase. The Cardano news also includes the fact that the first integrations of layer 2 functions in the Cardano test network are to be tested later this year. 


Previous statements by Charles Hoskinson stated that the increase in scalability should be completed by the end of 2023. This is where Basho should end and Cardano will probably be the fastest blockchain on the market. 


Cardano 100 Dollar

We have to keep in mind that Cardano puts care before speed. As with the introduction of smart contracts, Cardano should test the new updates intensively, which should lead to delays again in the future. 


What are other Cardano news for the end of 2022?

In the coming months, Cardano will focus primarily on establishing new decentralized applications that are intended to expand and strengthen the network. In particular, new DeFi applications such as Liqwid Finance or Genius Yield are to be established in the coming months.


Cardano continues to focus on quality and sustainability, even if the speed suffers. This also means that the price of the ADA token should not skyrocket in the coming weeks and months. However, this makes ADA particularly attractive for investors, as the network is developing massively, but the token will remain cheap for longer.


Is an investment in the ADA token worthwhile?

The ADA token is also one of our favorites on the crypto market for us at Cryptoticker. Cardano's growth potential is immense and development at Cardano always focuses heavily on quality rather than rapid, short-term growth. This makes the ADA token a good, long-term investment. 


In the current bear market, as an investor, you have a good chance of buying the ADA token cheaply and investing regularly in Cardano. This may allow you to make extremely high profits in the next bull market if the Cardano network is growing strongly by then. 

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