- Cardano Invests in ‘Scientific Philosophy’
- Cardano’s Score Dropped by 2.71% in the Last 30 Days
Open-source crypto project Cardano has adopted a pragmatic approach for its Blockchain development. The network is expecting its “scientific philosophy” along with its peer-reviewed research to create an unmatched infrastructure when it comes to scalability and efficiency. Cardano’s model has been a success to an extent as the digital currency already has a total market cap of $1 billion.
It is currently the number 12 largest cryptocurrency by market capitalization. This has been achieved in only two years of Cardano’s launch. ADA, Cardano’s native token can be traded or exchanged via top digital currency exchanges.
Cardano’s Network is Centralized Despite Posing as a Decentralized Platform
Despite claiming to be a decentralized blockchain, Cardano’s current iteration is Centralized. The transactions on Cardano are facilitated by a group of validators across three different entities. They include Emurgo, the Cardano Foundation, and IOHK (Input Out Hong Kong). These organizations are working to create an upgraded, public model of the platform. This new version is dubbed “Shelley.” It is a much-awaited public PoS (Proof-of-Stake-based Blockchain) designed to offer more scalability. It will be more decentralized than Cardano’s current iteration.
The current Shelley testnet which was launched in June will give way to the new incentivized model of the testnet. The new incentivized version will provide support for 200-300 staking pools, handle staking and the delegation by users. It is going to serve as a first look at how effective Cardano’s PoS incentive models will improve user participation. All ADA earned during the incentivized testnet will be redeemed on the running main net.
Cardano’s Score Dropped by 2.71% in the Last 30 Days
ADA’s FCAS (Fundamental Crypto Asset Score) declined by 2.71% in the last 30 days. User Activity and Developer Behavior fell by 6.32% and 0.64%respectively. Market Maturity increased by 3.25%. While the price of ADA is down by 10.70% in the same period.
Crypto projects are heavily investing in the research and development of their networks (to offer advanced solutions as the amount of competitiveness grows). All in all, these platforms want more adoption, from dApps to enterprises and customers.
Cardano (ADA) Price Today – ADA / USD
Name Price $0.098
Ethereum’s shift to PoS Serenity underscores the collective transition from the PoW (Proof-of-Work) protocol to PoS in the sector. PoS protocols have not matched the resiliency and adoption levels attained by PoW. Bitcoin’s dominance continues for now.
Whether the scientific approach for Cardano will be a success or not remains to be seen. We can only wait to see what happens in the future.