Cardano (ADA) entry in to the market was viewed with a lot of optimism with critics having the opinion that the coin did not have a product to offer to the crypto verse. However, the project team has proved them wrong and the coin has been growing since day one to be ranked 9th among the most valuable assets by market cap. With new products lined up, ADA is set to moon.
The project team has been working tirelessly to realize their dream goal whilst exploiting the outfits’ potential. Cardano founder, Charles Hoskinson is very passionate about the project and believed it has not even scratched the surface. The better part of the ecosystem is just beginning to take shape.
What is Cardano (ADA) Purpose in the Market?
Majority of tier three generation coins have become speculation vessels and that could be the reason the institutional investor is keeping off the market. This has denied genuine players the opportunity to grow. However, Cardano stands out of the crowd by focusing on changing the world to make it a better place for all.
Cardano has collaborated with small and big players in the society and through their initiatives; a lot has been realized among communities that it interacts with. To support these initiatives, Charles Hoskinson, having been very instrumental in the initial Ethereum development, seems to know what Cardano stands and poses:
“Why is anybody worthy of their positions in the market cap? Bitcoin is advertised as a payment system and a means of exchange, and then everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways to take cash, and through creative structure like what BitPay has done. Ethereum claims to be a world computer, but then CryptoKitties breaks it.”
Cardano Secret Projects Hints
With the recent Cardano (ADA) roadmap amendments new opportunities seem to have come into the fore. The goal of for the outfit to scale higher heights and Hoskinson appears to be excited about what the team is working on, a move that have caught many by surprise.
While discussing the “secret projects” he mentioned to new possible entrants into the Cardano family; Icarus and Yoroi. Just to bring you to the light, Icarus has been developed by the IOHK team:
“Icarus is a fully open source code base that will be the first step in a range of open source initiatives to provide developers with a suite of tools for Cardano.”
Provision of new developer tools appears to the next frontier for Cardano. This could shake the Ethereum ecosystem and lead to a mass developer migration to Cardano. Once actualized, Icarus will offer a better value proposition from Ethereum and to some extend Bitcoin.
Two days ago, Emurgo, an outfit that is instrumental in supporting Cardano projects, unveiled Yoroi, a light client wallet that could become the next generation game changer in crypto verse. Plans are underway to release Icarus, the Yoroi wallet and this has prompted Hoskinson to add:
“The way the ecosystem goes about doing its business is what makes it earn the current positive reputation of becoming the market leader and contender.”
However, with the developer team burning the midnight oil, Cardano ADA price appears to be stuck in the red in the last 24-hour trading circle. At press time, ADA was trading at $0.095240 with a 3.84% drop against the dollar. This is a general trend in the market and not something isolated to Cardano ADA and there are signs the coin is headed for a major breakout should the market stabilize.