Could Cardano (ADA) Be the New Cryptocurrency Leader?

When you wake up to a positive, green bullish market sentiment, the next idea that you will have is what investment to select as you diversify your holdings. When considering investing in virtual assets, it is important to note that they are profoundly affected and impacted by the performance of the blockchain and network respectively. Over time as more competition arises in the crypto industry with numerous new coins and ICOs, one company that has attracted the attention of many people is Cardano.

About Cardano

Charles Hoskinson, the co-founder of Ethereum, is the brains behind the Cardano project. As one of the major pioneers of the creation of smart contract technology for allowing seamless token exchanges, the Ethereum currency is highly respected and well known all over the entire financial industry and crypto world. However, Mr. Hoskinson is not stopping at that, as he wants to take his crypto game a step further by fixing most of the current challenges faced by the new generation of crypto coins.

The huge obstacles that most cryptocurrencies today face are interoperability, scalability, and sustainability. Cardano offers a layer architecture foundation that makes it a leader in the security and safety of smart contracts. Since the platform is divided into various layers, the security is increased since the processes are done in independent layers such that the data is handled securely and without any data sharing.

The other noteworthy challenge facing cryptocurrencies is the interaction between crypto networks and external financial institutions like virtual networks or banks. Thanks to the idea of privacy and anonymity when using cryptocurrencies, it is hard to establish the origin of tokens when transacting or community across systems with different codes. This issue has affected many entrepreneurs who launched ICOs over the last two years as the banks required the owners to explain the source of their funding. As all cryptocurrencies are decentralized and private, it has not been easy to get past this obstacle. Mr. Hoskinson plans to address all these issues and provide a secure network in which all entities can freely communicate across different platforms.

Conclusion

Cardano is striving to overcome current market players like M-Pesa and effectively take over as the leading service provider in all markets by offering better solutions to the challenges listed above. The aim is to reach all markets in all nations across Africa, Central, and South America, as well as compete with existing market leaders like M-Pesa. Mpesa’s mobile payment system was launched in 2007 and is regarded as the industry leader in mobile money transfers in Africa. Cardano (ADA), with its robust supportive infrastructure and a focus on technological improvement, could even overcome Ethereum and Bitcoin in the future.