Cardano (ADA) coin: 2021 Review

Cardano is the first proof-of-stake blockchain platform, based on peer-reviewed studies and designed using evidence-based methods. It integrates cutting-edge technology to provide decentralized applications, processes, and communities with unrivaled protection and long-term viability.

Cardano has gotten a lot of attention in 2021, and many people are hailing it as the Ethereum-killer. Does Cardano have a chance to defeat Ethereum? Should you have it in your cryptocurrency portfolio? Let’s take a look, shall we?

Background of Cardano

Cardano was established in 2015 to address some of the issues that the open-source community saw in the thousands of altcoins that existed at the time. Charles Hoskinson, a former co-founder of Ethereum, is the official founder of Cardano.

Multiple layers for settlements and computations, evidence of stake agreement, and the potential to update quickly in the future are some of Cardano’s core improvements. The Cardano Settlement layer was released in 2017 and raised $63 million via an initial coin offering (ICO). Since then, the ever-expanding team of developers has been hard at work, preparing the Cardano Computation Layer to launch smart contracts.

Cardano’s growth is overseen by three organizations: IOHK, Cardano Foundation, and EMURGO. The first two are charitable foundations, while the third is a for-profit corporation. The IOHK, which is in charge of developing Cardano, collaborates with a global team of academics to conduct analysis and review platform changes before they are implemented to ensure that they are scalable.

Concise Note on Cardano’s Development

Cardano currently has around a hundred and fifty developers working on the project, and about 700 commits are made each week. These factors combine to make Cardano one of the most actively developed blockchain projects today, implying that they will be able to meet their growth goals. Cardano is now in the higher tier of Layer 1 solutions, but it still pales compared to Ethereum, Polkadot, and Cosmos in terms of size and speed.

Is Cardano a Good Investment?

With solid foundations and a lot of momentum behind it, ADA is undoubtedly one of the most exciting and dividend-reaping cryptocurrency projects in the blockchain space today. Although it has been dubbed the “Ethereum killer” by others, this is highly unlikely. Cardano, in my view, will carve out its niche within the global computing ecosystem, but it will not be able to overtake the currently second-best cryptocurrency, Ethereum.

If you are bullish on crypto and blockchain in general, investing in Cardano makes a ton of sense. If you own Ethereum, Cardano is an excellent hedge that will almost certainly result in a net benefit. It’s an actual win-win situation. Furthermore, we at Fanspel, the first Blockchain-based fantasy sports platform, offer you the chance to showcase your betting skills for huge gains. You must know this comes with absolutely free rewards and no risks at all.

Cryptocurrency investments are dangerous, and you should never spend money you can’t afford to lose. Cryptocurrency is incredibly volatile, but I’m sure that’s why you came here in the first place. Because each person’s situation is different, you should always seek advice from a trained professional before making any financial decisions.