Cardano and it’s secret weapon
- Has performed well despite stiff competition from other assets, largely thanks to the support of its dedicated community
- The sheer strength of the community has made Cardano’s Project Catalyst the world’s largest DAO
- Cardano’s community has a strong social media presence with regular discussions and announcements
- Cardano’s recent price hike resulted in a 16.30% increase after it was revealed that ADA is now tradable on Coinbase, which the community is thrilled with
Cardano is a proof-of-stake blockchain platform that is the first to rely on peer-reviewed research and has wide applicability in retail, agriculture, finance, healthcare, and administration.
Recently, Cardano became a multi-asset blockchain after its hard fork. In addition to the wide range of applications and its pioneering technology, Cardano owes a large part of its relevance to its committed community.
The interest of the community has resulted in Cardano’s “project catalyst” becoming the largest decentralized autonomous organization (DAO) in the world and the community being actively present in important social networks with healthy metrics.
Cardano’s Secret Weapon Cardano’s launch in 2017 by founder Charles Hoskinson sparked interest in the cryptocurrency ecosystem to help overcome the inherent problems that plagued us. In particular, the slow transaction pace and rigid nature of Bitcoin should be resolved while addressing the scalability issues of Ethereum.
Since its inception, Cardano and its ADA token have grown by leaps and bounds, becoming the fifth largest cryptocurrency with a market cap of $ 38,289,874,302.40 trading at $ 1.20.
The exuberant community of Cardano is largely responsible for the growth and groundbreaking successes. It was recently announced that Cardano’s “Project Catalyst”, a community-run initiative, has been launched to support decentralized applications (dApps).
The project exceeded expectations of becoming the world’s largest DAO. The project was an overwhelming success. Four fundraisers have raised over $ 1 million with a goal of $ 15 million by the end of the year. According to the IOHK, the project has grown to 1,800 active voters and 7,000 registered supporters within 7 months.
On Twitter, Cardano has an active population of 328,000 followers. The official Cardano Facebook (NASDAQ 🙂 group has 35,759 members and the sub-Reddit has 283,377 members, where discussions and announcements take place.
On the downside
On the downside
- Cardano is advertised as a “competitor to Ethereum”, but does not yet have smart contract functions. And yet the competition is tough.
- In terms of price, Cardano follows Bitcoin for now, which will still be affected by volatility due to its limited tradability Deutsche Bank (DE :). Cardano’s movements follow the lead of Bitcoin (same goes for most altcoins)
Cardano’s Development Makes the Community Ecstatic As a reward for Cardano’s loyal support from the community, Charles Hoskinson announced that Cardano is now tradable on Coinbase and welcomed this step as a “significant milestone in the development of Cardano”.
The announcement was well received by the Cardano community and resulted in a price rally at ADA.
Additionally, the electrifying thrill of NFTs in space has led to a major update in Cardano that “introduced native tokens and multi-asset support for the platform”.
With this update, Cardano users can mint their own NFTs on the Cardano mainnet without the need for smart contracts to create native tokens.
Charles Hoskinson, Founder of Cardano, noted that within just 8 days of the start of the update, the project shaped 591 assets, signaling an exciting outlook for the loyal and reliable community around Cardano.
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