A pseudonymous host of Coin Bureau known as Guy has recently stated that Cardano (ADA), the third-largest cryptocurrency by market capitalization, has the potential to trigger the largest crypto innovation since the launch of Ethereum back in 2015.
According to the analyst in a video first reported by Daily Hodl, a lot of decentralized applications (DApps) that are set to go live on the Cardano mainnet are capable of shooting the top blockchain ahead of competitors in the industry.
Read Also: Cardano Gains Over 200,000 Wallets in Just Three Months; 71% of ADA Supply Now Staked
Guy further stated that Cardano is becoming the choice of users and developers because of the uniqueness of its staking system. He explained that Cardano’s staking mechanism makes it one of the most decentralized cryptocurrencies in the industry.
Guy noted:
“We are now on the brink of another explosion in crypto innovation, the likes of which we haven’t seen since Ethereum launched back in 2015, and early adopters will stand to reap the greatest rewards.”
“The staking rewards decline if there is too much Cardano in a single pool. This encourages decentralization…
“ADA’s staking rewards are currently around 4.5% per year, and the fact that there is no staking lock or unlock time makes it a no-brainer to do so, hence, why nearly 70% of ADA’s supply is currently being staked. This makes Cardano the highest valued blockchain by active stake.
Read Also: Cardano Creator: El Salvador’s Bitcoin Adoption Is a Win for Crypto Industry At Large
“Cardano has over 1.6 million users and its community is arguably the most active in cryptocurrency. This is incredible, but it’s also a developer’s worst nightmare because they know there’s no way in hell their DApps can handle that kind of traffic…
“As a result of this reality, almost every single Cardano project is dragging out its launch to stress test its infrastructure because if they deploy their DApps now, they will get wrecked.”
Follow us on Twitter, Facebook, Telegram, and Download Our Android App
Crypto market analysts have made bold assertions about the potential of FX Guys ($FXG) to…
The surge of interest in meme coins continues unabated as new digital assets promise phenomenal…
XRP price has hit resistance after a recent rally, with several crypto enthusiasts attributing this…
In the dynamic world of cryptocurrency, a modest investment today could potentially yield extraordinary returns…
In the ever-changing world of cryptocurrencies, hidden gems are waiting to be discovered. Investors are…
The cryptocurrency world is abuzz with the potential of three groundbreaking assets: Qubetics, Avalanche (AVAX),…