Founded by Ethereum co-founder Charles Hoskinson, Cardano was created to compete bitcoin and Ethereum directly. Its blockchain resembles that of Ethereum because it allows the development of decentralized applications (Dapps) and smart contracts.
At a glance
The Cardano community is currently less vibrant. This is partly because the founder and CEO Charles Hoskinson left social media after the dispute between him and his former colleague Vitalik Buterin. However, the platform still has many exciting activities going on. The following are some of the latest activities on the Cardano network, which could pave way for the ADA coin to amass a huge following in 2019:
Cardano’s ADA currently commands close to 2 billion dollars in market cap, placing it among the top ten cryptocurrencies according to CoinMarketCap. As of this writing, the coin is in position 9 with a circulating supply of more than 25 billion ADA coins. Even with the slump in the crypto market, ADA has been experiencing a gradual rise in value, making it one of the stable altcoins in the market.
ADA is one of the rare cryptocurrencies that have maintained a solid pace of growth among the top ten, alongside Ripple’s XRP and Stellar’s XLM despite the recent slump in the crypto market.
Cardano (ADA) Future Forecast
#1. Hoskinson Speaks about Cardano Foundation, head of IOHK
Charles Hoskinson is one character in the crypto space that is just as popular as the brand he represents. In the crypto space, it’s common to find virtual currencies that are more popular than their peers when viewed in various categories. The same concept applies to CEOs and development teams.
While Hoskinson mainly focuses on updating the Cardano community, he stands out as a memorable figure behind the development and progress of the entire Cardano network. This is based on his rich experience in the crypto space, which dates back to the beginning of Ethereum.
One of the recent activities on the Cardano platform is in relation to the open letter, addressed to the Cardano Foundation board, criticizing it for “a two-year-long frustration among the ADA community.” Regarding this, Hoskinson together with Emurgo, ADA’s head of operations, addressed a letter to the current board of Cardano Foundation, terming it “paralyzing the network.”
Following the letter, the entire Cardano community including boards sprang into action. But the letter is just a tip of the iceberg, signaling a series of events Hoskinson is planning with his team to propel the progress the technical progress of Cardano network as well as the adoption of the ADA cryptocurrency. In view of this, Charles Hoskinson definitely stands out as the positive energy in the Cardano community and this explains why Cardano and ADA could be command an exponential growth in 2019.
#2. Cardano is improving its scalability
Scalability is one of the major problems of the crypto space. Cardano is trying to rise above this issue by introducing recent technical developments that will enable it to remain fully scalable.
By acquiring a scalable system, ADA will be able to accomplish its prime goal of providing cheap and simple financial solutions to close to 3 billion people with no access to universal or new age financial solutions. It is important to understand that Cardano is the first blockchain created from scientific philosophy. Since its creation in 2015, the team behind Cardano’s development has embarked on global academic research, engaging professional engineers to root out the fundamental issues that continue to plague the Cardano network.
Currently, Hoskinson is working on a paper that if implemented, will solve scalability issues. This is according to a recent update that he gave concerning the slow performance of the board of the Cardano Foundation.
If ADA adopts a fully scalable network, it will be closer to becoming a third-generation cryptocurrency, which is one of Hoskinson’s earlier objectives. With this in mind, it is believed that ADA will be bigger in 2019.
#3. ADA’s Proposed Listing on Coinbase
This has been one of the most talked about activities in the Cardano network. According to Coinbase announcement in July, there are plans to list ADA on one of the biggest exchange markets in the blockchain and crypto space. If this works out, ADA might soon be among the live trading currencies on Coinbase, the crypto exchange platform that boasts more than 20 million registered customers. This will be a great opportunity for the ADA coin to gain exposure, which will fuel its worldwide adoption in 2019.
Disclaimer: While carefully researched, this article is for informational, education, and entertainment purposes only. It is not an express investment guide. Cryptocurrencies are volatile and you should contact a financial advisor before you invest.