Cardano (ADA) is among a couple of Altcoins in the red and has been there for some time. If you are a cryptocurrency die-hard, it’s the right time to buy. With a market cap of $3.8 billion as of today, Cardano has all the signs of recovery. The possibility of the coin hitting a high of $1by close of the third quarter is real.
This is a third generation coin and way a head of both Bitcoin and Ethereum who are first and second generation cryptocurrencies respectively. The platform provides users with Decentralized Applications (DApps), multi-party computation and smart contracts. The coin has ability to rank high and a good choice to invest in while it is still on the red.
The Cardano (ADA) Current Performance
Cardano is among the alternative virtual coins that have been on the red for several weeks however, the trends seem to be fluctuating. Many questions have been raised as to whether the coin is going to break even in the near future. There are many factors that will determine the direction the coin takes going forward.
The price of ADA has kept many holders worries and it is currently down by 1.56% to trade at $0.146995. This is not a big sip given the current bullish market and the volatility of digital currencies. Ranked 7th by market capitalization, Cardano downtrend is not something new and according to the developer team is soon changing.
With no working product, Cardano is a good bet that many have not yet discovered. This is a platform that is working hard to solve real life challenges that other older blockchain networks have not been able to solve. Below are some issues Cardano development experts are working on.
Digital Coin Interoperability through Cardano (ADA)
Going by the failures of Bitcoin and Ethereum, Cardano (ADA) developer team understands that there is no single coin that can go it solo and break even. The ecosystem seeks to bring all cryptocurrencies together to make the user experience better. There is a huge gap between the various blockchain platforms and Cardano seeks a level playing ground where exchange of data and information is possible. This has made the platform stand out as unique, a cryptocurrency platform without a product.
No coin is superior and complementing each other will shape the future of the digital currency market and its underlying technology. You need a one stop-shop for all things cryptocurrency and this is a basic vision of Cardano. You do not have to go to a different network to get a single problem solved; all you need is a single gateway to the world of blockchain technology.
Cardano (ADA) and the Scalability Problem
By providing cryptocurrencies with a global appeal, Cardano seeks to ensure transactions are handled fast, securely and transparently. Different blockchain use different algorithms to make transactions and some are slow like Bitcoin, while Litecoin (LTC) is fast; Cardano plans to bring these shortcomings to an end.
For a payment system to remain globally relevant and stable in the payment processing sector; the number of transactions processed per second is critical. This is the missing link across all networks and is a catalyst to Cardano adoption globally. If this works well, then the coins will drive the digital economy to the next level and the value and price of ADA will moon.
Cardano (ADA) Sustainability Focus
Cardano idea is to provide a resourceful platform to support other digital coins. Since it does not have a “product”; it will only earn a set percentage of transactions performed on its platform.as a user, you will have access to its wallet that is smart contract controlled. These transaction fees will sustain the Cardano platform while supporting new and old players in the crypto-sphere. This is an innovative way to help users and developers cut a niche in their respective markets.
Whichever way you look at Cardano (ADA) there is very reason to invest in it while it is still on the red. Once other blockchain ecosystems see the value proposition from the coin, the sky will be the limit and partners will appreciate what Cardano is all about.