In contention with global leaders, virtual currency challenges bitcoin and ether.
Grow Your Business,
Not Your Inbox
Stay informed and join our daily newsletter now!
September 6, 2021
3 min read
This story originally appeared on High Level
p> The platform Cardano could become the most valuable of the ‘cyberworld‘with his currency virtual (ADA), even surpassing current market leaders such as the bitcoin or the etherum by increasing its value by 1000% during this 2021.
Last Thursday, August 26, the price of Cardano rose 19%, which exceeded the Binance coin and was placed in the third position of the most valuable cryptocurrencies in the market, according to Sebastian sinclair on Coindesk. With this, the currency could rise even higher due to its “sustainable” properties.
The currency is advantageous for being “environmentally sustainable”
When Elon musk – Tesla CEO – announced that the company would stop accepting bitcoin payments, more than a quarter of a trillion dollars of the market world of cryptocurrencies. However, ADA survived due to its protocol of blockchain, which is based on a proof of participation and not of work.
It might interest you: Bitcoin reaches 50 thousand dollars for the first time since May
The underlying technology of the platform indicates that it does not depend on ‘super’ computers to process transactions and generate new ADA units, but instead values the percentage of coins a miner owns rather than the processing power it has.
Charles Hoskinson, founder of Cardano, estimated that his network used less energy than 0.01% of the bitcoin network, which could multiply by more than four million the energy efficiency of a proof-of-work system like that of the current leaders of the ‘ cyberworld ‘(bitcoin and etherum).
ADA could compete with Amazon, Facebook and Netflix
As detailed in the platform forum, Cardano’s potential could be compared in the future with companies such as Amazon, Facebook and Netflix: “Cardano aims to become a global financial computer. It is here for everyone who could use a decentralized currency to create decentralized services, ”the post reads.
It might interest you: Xoycoin: the first Mexican cryptocurrency with which you can invest from 20 pesos
What could the price of ADA be in a few years? Cardano could have a similar capitalization to that of the technological giants, ”says the platform.
In contention with global leaders, it ranks alongside Baidu and already surpasses Dropbox, McAfee antivirus, Slack and LG Electronics.
At the moment, Cardano reaches a capitalization of 86 billion dollars. While it is still far from the $ 367 billion that ether capitalizes or the $ 893 million from bitcoin, the blockchain is emerging as the new favorite of experts.