Cardano (ADA) has had a sluggish 2018, and is now trading at under $0.10. That’s a huge dip from its all-time highs of over $1. For people who bought Cardano at its December highs, it’s only natural to wonder, is it worth HODLing? To make an informed decision on whether it is worth holding or not, it’s best to take a broad look at Cardano, what it has achieved, and what it has the potential to achieve going into the future.
Cardano (ADA) is built on the scientific philosophy, and everything about it is well-researched and peer-reviewed. This means that every part of their milestone that they announce as complete is peer-reviewed and proven to work. One of their biggest achievements so far is Ouroboros. This is a peer-reviewed proof-of-stake algorithm that has been proven to be scalable, while maintaining decentralization and security. Since scalability in a decentralized and secure environment is one of the biggest hindrances to the adoption of blockchain technology, it then follows that Cardano has a technological head start that will see it gain mass adoption faster than other platform blockchains.
For instance, if a developer wants to create a high performance Dapp that rivals centralized systems in terms of efficiency, they would find Cardano quite useful in achieving this end. In essence, once blockchain technology goes mainstream, Cardano will be among the blockchain projects that will be at the forefront of adoption. On this basis, it makes sense to hold Cardano (ADA) with a long-term view.
Another motivating factor to hold Cardano is the team behind it. The long-term prospects of any cryptocurrency are heavily linked to its team. A good team offers some level of comfort that they can get things done, and handle whatever challenges that may arise, professionally. It’s the same principle in the corporate world as well. The better the team, the higher the inherent value of the organization. In the case of Cardano, there is no doubt that it has some of the best brains in the world behind it. People like Charles Hoskinson are among the best brains in blockchain.
But even bigger than a team’s technical capabilities is their commitment. The more committed they are, the better the prospects of long-term growth. In the case of Cardano, the team is so committed that IOHK recently brought in one of the founders of the Haskell language to help programmers understand this language better, especially on the issue of functional correctness. This goes to show that they are totally dedicated in building a perfect platform blockchain. Essentially, this means that every part of the Cardano roadmap is near perfection. That’s a heads up that once Cardano is through with the roadmap, their product will be a worthy competitor to all centralized systems in the market today.
Going by the above, it goes without saying that Cardano (ADA) has what it takes to become a top platforms blockchain going into the future. It makes sense to hold it, without putting too much focus on its day-to-day price movements.