Bad comments can be made in favor of PoS Blockchain giant Cardano. The altcoin, which fell to 6th place by market capitalization, survived some technical difficulties with the Dapps built on it after gaining smart contract capabilities with Alonzo hard fork. In this thread, PNA finance commentator Joel Baglole discusses why Cardano is the better bet than Ethereum and Bitcoin. cryptocoin.com We present the analysis of financial commentator Joel Baglole.
What sets Cardano apart from other altcoin projects?
The Cardano team has worked hard for successful projects and the ADA price is paying off. Many who follow the cryptocurrency market closely see ADA-USD as the future of the industry and expect it to eventually compete with and eventually replace larger cryptos like Ethereum and Bitcoin. Like-minded financial commentator Joel Baglole shares his analysis of how Cardano can achieve this:
Cardano is where cryptocurrencies are going, not where they are. The fact that ADA-USD is more energy efficient and superior when it comes to facilitating DeFi transactions and smart contracts makes it one of the most useful altcoin projects and an attractive option for investors looking to trade on platforms that haven’t reached exorbitant prices.
As for Joel Baglole’s thoughts on investing, the Former WSJ reporter and financial writer says he believes in Cardano’s future:
While all cryptocurrencies are risky investments, Cardano is worth a small position.
Hydra update makes Cardano contracts more useful
“Hydra” makes Cardano’s smart contracts more useful after Alonzo. The update planned for this year will greatly speed up the transactions of Cardano Blockchain. It prepares Cardano to the desired level in terms of higher speeds, DeFi and smart contracts. More importantly, Cardano is working on a “Proof of Stake” mechanism that is much more energy efficient and better for the environment than the “Proof of Work” concept that Bitcoin and Ethereum work on. Although 2022 is targeted for the ascension, a clear date has not been given yet.
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