Cardano (ADA) The price is trying to recover after falling 12% last week. Cardano supporters often say that they believe the altcoin can compete with Visa in terms of transaction stability and speed, and they continue to support the project.
Cardano price It finished last week with a total loss of 12.5%. However, analysts argue that the Ethereum killer altcoin needs to increase its transaction agreement from 250 TPS to compete with Visa.
Altcoin’s proof-of-stake (PoS) consensus mechanism works more energy-efficiently than other blockchains like Bitcoin (BTC) and Ethereum (ETH). Visa’s theoretical capacity of 65,000 TPS is relatively higher than Ethereum and Cardano, but the stability of transactions on the Cardano network is interpreted by investors as the “Visa of crypto”.
The introduction of Hydra and off-chain ledgers on Cardano’s blockchain could increase the supported transaction capacity to 1 million TPS. This increase will surpass Visa’s 65,000 TPS.
CEO of Input Output Hong Kong (IOHK), the company behind the development of Cardano Charles Hoskinsonreiterated to users that, despite criticism from the community, their work on the Ethereum killer is open, transparent and verifiable:
“Everything in the Cardano ecosystem is the product of people who spend time writing or coding something, and each of you can see these things and validate them.”
Analysts, evaluating the Cardano price trend, predicted a 25% increase in the altcoin. FXStreet analysts used time as a tool to identify the ups and downs in the Cardano price chart. Analysts consider a price rally extended after a 180-day cycle on the Cardano chart. The Cardano downtrend continued for 190 days, poised for a massive balancing act that pushed the Ethereum killer up 25%.
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