Review on Cardano by Abraham Jeremiah
Coming up to the Top 5 on Coinmarketcap, Cardano is worth looking into
Following an unprecedented increase in monetary value of the Cardano token ADA, interest has been growing into understanding what this crypto project has to offer. Actually Cardano has had a long standing relationship with success but has been pretty much undervalued most likely due to its non-popularity. Looking at its trading charts over the daily time frame during this month of February, one would agree strongly that interest has started growing to understand what Cardano is and how it can lessen the burdens placed by other projects in terms of fees and speed.
Cardano works most likely as any other Crypto project focused on building other projects, just like Ethereum and Tron, but makes its own more specialized. Instead of launching projects solely on Cardano, Cardano allows developers to create their projects in the form of a side chain. I am not much of a developer but what I understand by this is that, when I get to create my own project, let's say one that is focused on providing online books for a small fee of the token my project uses, I can get to choose the transaction fees they get to pay. This beats the imagination of other side chain building projects and with this kind of implementation, Defi projects can be easily created without hitches, using governance, the fees the developers might have set in place could even be lessened.
When it comes to Defi, Cardano should be the number one choice of opinion. It's very secured and scalable. The recent surge in it's token value though can't be pointed out directly through my research. In the times of my research, I couldn't see anything in relation to a new project that could capture the minds and attention of the crypto market. More information should be put out to advertise this project as it is far better than many other projects seen
Pros
- Cardano has proven to be more scalable and efficient in handling users need especially when it comes to project building on its ecosystem
- Transactions can be completed in seconds, making it faster as compared to other Dapp building projects
- Using Proof of Stake and Ouroboros Protocol for security, Cardano is very efficient when it comes to transaction fees
Cons
- Projects launched on Cardano are very few in number, one even gets to question its value increase as there is nothing new to show of it. More enlightenment should go under so many developers gets to see what is hidden in Cardano
