Benjamin Cowen, a top crypto analyst, has recently stressed the particular reason why Cardano, the emerging smart contract platform, has been outperforming other blockchain projects in terms of product marketing.
According to Cowen in a tweet on 19th July 2021, people may continue to argue that smart contracts are not running yet on Cardano, but the crypto project remains a good system with regards to validators.
He further stated that where many chains look messy in terms of quality and functionality, Cardano continues to gain vast attention due to its quality.
Benjamin Cowen tweeted, “You may argue that Cardano does not have smart contracts yet, but at least they have figured out a good system with regards to validators/delegators. Most other chains are a complete mess. And you wonder why Cardano has better marketing. The product markets itself.”
You may argue that #Cardano does not have smart contracts yet, but at least they have figured out a good system with regards to validators/delegators.
Most other chains are a complete mess.
And you wonder why Cardano has better marketing. The product markets itself
— Benjamin Cowen (@intocryptoverse) July 19, 2021
Benjamin Cowen on Why Cardano (ADA) Is Trending Well
In a new video, Benjamin Cowen outlined the reasons for believing that Cardano (ADA) is performing well despite the current situation in the market. According to Cowen, one of the reasons is that the blockchain platform is easy to use and validate.
He claimed that among many blockchains he’d attempted to run validators, Cardano is the simplest.
Benjamin Cowen noted:
“Given the current market conditions – why has it not dropped more? … I’ve explored running validators on a lot of networks, and I think Cardano is the easiest. It’s the easiest for validators for sure, and I think it’s relatively easy for delegators as well.”
Cowen also stressed that staking on Cardano is simple compared to some competitors in the crypto space:
“Bitcoin’s down 50% and when you look at the active stake in the ITC pool, you can see that it’s just been going up….
“If people are not unstaking their ADA and instead are just continuing to either hold it or add to their stack, then it’s going to reduce the sell pressure. Now the staking and unstaking is obviously not going to be enough to… mitigate the effects of Bitcoin when it drops from $64,000 down to $29,000… But the fact that it’s still trading at a $1.20 … it’s actually quite remarkable.”
Speaking on marketers around Cardano, Cowen said, “they are really good marketers. They have these validators, and if you have a validator, then you obviously want to get people to delegate to stake pools that you are running…
“You essentially have a project that has made it so that people can earn interest relatively seamlessly. It’s relatively easy to set up a validator.”