thecoinrepublic.com
- Despite its slow beginning, the ‘Ethereum Killer’ Blockchain is now turning the table
- Cardano (ADA) had the most Crypto Developer activities in 2021 according to crypto analysts
- Now ADA might see a surge in its value; however, it is at $1.3 approx at present
Cardano is now getting the long-awaited recognition which it deserves. With plans to make cryptocurrencies scalable, interoperable, and sustainable, it launched in 2017. It got a lot of attention. Due to its features giving direct competition to Ethereum, it even started being called ‘Ethereum Killer.’ With a lot of technological breakthroughs contained in its Blockchain, Cardano seemed to be a preferred platform for many crypto developers, and it attracted a lot of projects.
Having smart contracts, being open-source, providing fast transactions with very low GAS fees, and on top of that, working on a proof-of-stakes mechanism of consensus. Almost every needed facility is available on the platform, which will be handy for crypto developers to work on any project or an application to run on Blockchain. Surely these specialties were successfully gaining preferences, and many projects were developing on Cardano Blockchain Network.
The popularity of Cardano (ADA) can be seen in the crypto analysis report by Santiment, which tracked and listed the Most Crypto Development Projects on various Blockchains. The crypto analysis’ findings clarified and mentioned Cardano as the network having the most Crypto Developer Activities in 2021. Cardano stands at the top with an average of 53 projects per day, whereas Kusama was at second and Polkadot remained at third rank. Ethereum, which is usually being looked at as the main competitor of Cardano, stands at fourth rank in the list. It seems that Cardano has beaten Ethereum in the game with a large margin along with Kusama and Polkadot, other famous cryptocurrencies in the crypto market working on Proof-of-stakes.
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The organization behind Cardano, IOHK (input-output hong kong), was also working in various fields, helping many organizations take advantage of Blockchain. It can result in real-world usage of Blockchain. It helped the University of Edinburgh and the University of Wyoming support them in their Blockchain initiatives. Cardano’s potential can also be seen from its other partnerships like the Government of Georgia to build an ID verification system using Atala, an enterprise solution of both Cardano and IOHK. Even in partnership with the Government of Ethiopia, IOHK announced the plans to launch the ID and record-keeping systems for students on Cardano.
Even in the commercial world, Cardano is gaining new partnerships. Famous footwear manufacturer New Balance announced their program on Cardano System. The program will help in checking for the authenticity of manufactured products.
A lot of changes are bringing day by day with its development. In its ‘Roadmap for 2022’ session, Charles Hoskins mentioned currently working projects under development on Blockchain. He also told about 2 million users of ADA on Blockchain, which will be estimated to go tenfold because of its non-fungible tokens growing popularity. Its approaches for unique funding mechanisms like Initial Stake Pool Offerings (ISPO) also need to get mentioned. One of the Projects based on it, Genius Yield, had got $118 Million in its ISPO pool in just 24 hours.
A lot of changes happened, and more are still happening around. Blockchains like Cardano are also playing an essential role in it, and the number of projects and Crypto Development Activities on its network are clear examples.