Recently, one highly popular pseudonymous Cardano ($ADA) whale explained (in an impressive Twitter thread) to those potential investors who are not sure about Cardano why it is “special” and why its community feels so excited about Cardano’s long-term prospects.
Cardano in Numbers
- TVL 1M +69% 7d +21%
- Transactions 4x YoY (150k)
- NFT vol ~$1m/day
- Block prod pools: 1,200
- Projects building: 517
- Reddit subs 694k (55% Eth, 350% Σ Sol+Avax+Terra)
- Self-funding last round, votes / projects funded: 257,000 / 269
There are lots of scaling solutions in the works, such as “Isomorphic state channels w/ code execution (Hydra)”, “BFT side chains, security guarantees of L1”, “zk rollups (Orbis)”, and “Improvements in block propagation, DAG mechanisms”. Apparently, most pf these are expected to go live in the “near term” (with the June hard fork expected to help the Cardano blockchain to scale “massively”).
Focus on Real-World Pain Points
Here are a few examples:
- Decentralised Digital ID for KYC inclined
- Self-funding, also real-world projects
- Telecom (Dish, World Mobile)
- Micropayments (Hydra)
- Governance solutions (Ethiopia)
- Dapp store, for your dad
- Drag&drop SC
Decentralied On-Chain Governance
Cardano has sustainable governance “baked in”; there is “a self-funded, self-governed decentralized open-source system to manage identity, value, and governance”.
Huge Hidden Strengths of Its DeFi Support
A few examples are “Haskell, eUTxO, off-scale computing, and native assets.” This “great mix” allows building “applications with crypto bonds, complex derivatives, etc.”
Expected Upcoming Growth in TVL
Stablecoins are “coming soon via various venues.” Ardana “(3ac funded, central banker on the team)” could be Cardano’s answer to Terra’s Anchor Protocol. Liqwid could serve similar needs as Ethereum’s Compound. And Aada could be the equivalent of Ethereum’s AAVE.
$ADA Is Sound Money
Cardano’s “monetary policy and $ADA hardness is second only to perhaps Bitcoin” since “only thousands of people agreeing in governance could ever change it.”
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Featured Image by “Quantitatives” via Unsplash.com