Is Cardano a sleeping giant?

Bitcoin was created in 2009 by a mysterious person, persons or an entity under the pseudonym, Satoshi Nakamoto. It revealed the use of a brand new technology called blockchain and promised a currency that was decentralized and could be used from anywhere in the world eliminating borders and outdated fiat currency controls. The digital currency gained traction and reached an all time high of $20000 a coin back in December 2017. Since it’s creation hundreds of other digital coins have been created hoping to improve on Bitcoin’s tech and dethrone it from the head of the cryptocurrency leaderboard.

With the cryptocurrency universe now inhabited by hundreds of other digital currencies the coins can now be classified as first, second and third generation cryptocurrencies. As a investor in cryptocurrencies I am always on the hunt for coins whose value I believe might explode upwards in the future. One coin that has caught my attention and that I have invested in is Cardano. It is a third generation coin that just recently deployed itself on the main net with the release of the Shelley protocol. It is a proof of stake coin meaning that its consensus mechanism is based on coin holders staking their coins and receiving rewards in the form of more coins for doing so. Proof of stake looks to improve on Bitcoin and other coins using the proof of work consensus which is far more energy consuming.

The exciting part I believe is yet to come for Cardano as it plans to release a host of new services. The Goguen protocol will allow developers to create smart contracts as well as DeFi products which are very popular in the cryptocurrency world at the moment. For a roadmap of Cardano’s future on their official website you can view it here There is talk that Cardano will be listed on Coinbase once it becomes 100% decentralized which is projected to occur around March. Coinbase has also entered into a custody staking agreement with Cardano to allow coin holders to stake their coins on the exchange like they can do now with Tezos and Dai.

All these future developments are strong tailwinds going forward and have convinced me there should be a significant upwards price trajectory in Cardano up to the Coinbase listing which should hopefully happen around March 2021. Do your own research and let me know what you think. Good luck to all!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: