A few hours ago, Charles Hoskinson tweeted that, there is some good Cardano news coming soon. This has got the Cardano community excited. Most people on online forums are speculating that it could either be about Shelley, Ledger integration or a listing on Coinbase. Whatever it is, the community expects this to be a big deal. That’s because, Charles, and the Cardano team in general are not in the habit of making announcements about announcements, especially when they are meaningless announcements. In fact, most Cardano announcements and AMAs come off as too technical and academic for most people to understand. Their goal so far has been to get the technical aspects of the project right, and not to pump the price through hype.
Beyond this upcoming big announcement, there are lots of reasons to be long-term bullish on Cardano (ADA). This is one of the projects that have a real chance of taking blockchain technology to the next level, and change society. One aspect to Cardano (ADA) that makes it a transformational project is its ability to scale, while at the same time maintaining decentralization and security. These are issues that have become a hurdle to the mass adoption of blockchain technology in applications development.
Cardano solved this problem through Ouroboros, a scientifically reviewed Proof-of-Stake algorithm that allows Cardano to scale, without requiring the energy needs of POW algorithms. This is a big deal because it gives Cardano an edge in the Dapps market, once they gain traction in the market, and this may not be far off from reality. That’s because, the centralized internet is failing in terms of security and privacy. As these problems become clearer to the masses, Dapps will gain more prominence in the future. Tim Berners Lee, considered the father of the web, is already working on a project that will decentralize the web. That’s a pointer to the direction that the web is taking. As the decentralized web takes shape, projects that can efficiently handle the development of mainstream decentralized applications will thrive. Cardano happens to be one of the projects that can handle such applications, and as a result, will thrive in the long-haul.
Cardano is also supported by its focus on the developing world. There is a serious gap when it comes to financial access in the developing world. Most of the world’s poor have a serious problem with reaping the benefits of the legacy financial system. Cardano (ADA) aims to be a platform through which, these people can create financial solutions that meet their needs. Cardano has already major in-roads in countries like Ethiopia and Rwanda. This is a major strategic move for Cardano and could see it become an integral part of the financial services industries of the developing world. Such adoption would see the value of Cardano (ADA) rise significantly in the future.
In essence, Cardano (ADA)’s long-term prospects are great, with or without any announcements in the short-term. With a dedicated team working on it, Cardano (ADA) is one of the most undervalued projects in the market, when trading at under a dollar. As macro conditions shift in its favor, Cardano (ADA) could easily trade at over $5 in the future.