Cardano was created by professionals who preferred a new platform to the success of Ethereum, which means that this platform started as a revolutionary service, being a patent-free open source blockchain platform capable of executing smart contracts.
Cardano was launched in 2017 after the successful ICO campaign that raised $ 60 million. The platform team made it easy to upgrade the network by separating the smart contract execution layer (Cardano Calculation Layer) from the layer associated with financial operations (Cardano Settlement Layer). Cardano implements the unusual Proof-of-Stake Ouroboros consensus protocol that requires all ADA holders to participate in the vote. Ouroboros is supposedly the only existing consensus mechanism with mathematically proven security.
See more: Could Cardano be more valuable than Netflix and Facebook?
Cardano’s architecture and cryptography allow a balance between the need for anonymity of transactions and the requirements of financial regulators to collect metadata. To ensure decentralization, Cardano does not depend on the support of a single organization. The platform is supported by three independent funds from different countries (Input Output Hong Kong, Emurgo and the Cardano Foundation).
The Cardano network has had an incredible performance this year. The price of ADA has multiplied by more than 17x. At the beginning of the year, Cardano’s price was still $ 0.17. On August 23, 2021, the ADA price reached its latest all-time high at just under $ 3.
If the market capitalization of an asset increases, then the price of the asset generally increases dramatically as well.. This is because more money flows into the respective asset and demand increases. Cardano’s rate could rise to more than US $ 30 in the long term. Even Assuming $ 1 or $ 2, the ADA price would still be above $ 10 or $ 20, respectively.
See more: Why do people use Dogecoin?
Interestingly, Bitcoin is currently the 9th most valuable asset in the world and its market capitalization is only slightly lower than that of Facebook. If Cardano dethrons Bitcoin, the ADA price will likely be in the double digits.
At first glance, $ 100 seems unrealistic. Nevertheless, given inflation rates in the United States, that might be possible.
The Fed created about a third of all existing dollars in 2020. If this trend continues, the price of ADA will also increase dramatically in the coming years due to inflation, since the ADA quantity is limited to 45,000,000,000 tokens.