Cardano ADA / USD is a decentralized and open source blockchain platform, with consensus achieved through the use of Proof-of-Stake (PoS). It successfully launched smart contracts after its hard fork.
Cardano was founded by Ethereum co-founder Charles Hoskinson and developed by his research company, Input Output (IOHK).
The hard fork as a catalyst for growth
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On September 2, we covered the potential of an official Alonzo hard fork as it relates to the general network.
On September 12, Input Output (IOHK) officially posted on Twitter who rolled out the Alonzo update at the time change and welcomed us to the beginning of a new era for Cardano (ADA).
Parallel to celebrating such a milestone, Cardano also noted that it is still in the early days of the project and, according to a blog post, this is when the mission really begins.
This Alonzo hard fork allows you to write smart contracts for Cardano using Plutus scripts.
The team describes it as a purpose-built smart contract development language, as well as an execution platform that uses the functional programming language known as Haskell.
Should you invest in Cardano (ADA)?
On September 14, Cardano (ADA) was worth $ 2.40.
To get a better perspective on what kind of point of value this is and how much growth potential the token actually has, we will review its all-time highest value and compare it to its recent performance.
The highest all-time Cardano (ADA) value was $ 3.09 and was achieved on September 2. This makes the highest value of all time $ 0.69 higher or 28% higher than the value of the token on September 14.
The ADA’s lowest point was on August 3, where the value fell to $ 1.27. However, its highest point was on August 24, where the token increased in value to $ 2.95. Here, we can see that the token is up $ 1.68 in value or 132%.
According to data from IntoTheBlock, Cardano (ADA) posted $ 94.54 billion in transactions over $ 100,000 in the last seven days.
In addition, the network recorded a 30-day average of 2.22 million addresses, with the maximum at 2.29 million and the minimum at 2.09 million.
With the successful Alonzo hard fork, as well as the launch of smart contracts on the Cardano network, the ADA token has enormous growth potential in the future.
Ultimately, this will depend on how quickly developers adopt smart contracts and push their dApps in Cardano.
Expectations need to be managed realistically and we may not see a sophisticated ecosystem of dApps available in an instant; However, as the network grows, so will the price of your token.
In fact, if we take August’s growth into perspective, we can assume that the token could grow to $ 4.08 by the end of September, making it a worthwhile investment.
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