Analysts predict Cardano to hit $10 in a year- top reasons to invest in this currency
Jan 27, 2018 Posted / 9282 Views
This currency surprised everyone with its scale of growth and adoption as it skyrocketed into the top 5 cryptocurrencies in terms of market capitalization- Cardano. Soon everybody started talking about its rally and astounding run creating a buzz in the cryptocurrency space, especially when its price surged to more than $1 some weeks back.
However, there is one fear that lingers on its way to becoming the most sought-after digital currency. The fear is the underdevelopment for the project as it is still in its initial development days. Nonetheless, if you are one of those who has not yet invested in this highly talked about cryptocurrency than you should gear up as analysts predict that the Cardano could hit $10 mark in a year's duration.
Cardano (ADA) has a lot of expectations weighing on it and it is projected that it can present a great valuation opportunity for the ones new to the cryptocurrency space. In this article, we can break down on the reasons why this currency is thought to be one of the most promising enterprises in coming times.
This is one of the characteristics that will impel Cardano in the future. Just like Cardano is employing a hi-tech proof-of-stake algorithm known as Ouroboros. There is an agreement amongst the developer community that this algorithm can happily defend against blockchain attacks. These features provide an upper hand over other coins such as Ethereum, which has been recently battling the attacks of hackers. Now imagine a currency which is flawed and still values at $1000, how an improved technical coin will develop over the time. Even a valuation of $10 can be an understatement for it.
Right now if you have anything massively against cryptocurrency then it can be stated that these currencies could not be used in day to day transactions. However, in a recent update from the Cardano sources reveal that there is soon going to be a debit card system build for this currency. You may now imagine what else it can achieve in coming time, even as a new coin it has built in so much trust.
The debit card project is in pipeline and the developer team is at present working to amalgamate real-time utility to the coin. Cardano even currently is recognised as one coin that has been structured quite pragmatically and additionally, the currency is also labelled as one which is bug-proof.
The uniqueness of the Cardano as a cryptocurrency free from bugs can be assumed from the fact that the currency is written in the Haskell language, which is a mathematical language that permits for secure code that is free of bugs. Its bug-free nature places Cardano way above other smart contract cryptocurrencies such as Ethereum. With such a mighty tech behind it, it is pretty explicit that Cardano is travelling to the moon.
the success of the currency is dependent on the fact that they may or may not have supporting wallets. A non-availability of the functional wallet exposes investors to the risks from the possible attacks from the hackers. Cardano team worked on these grounds and found a way to fix this. The wallet for this emerging coin is very secure and convenient to use. The Cardano can be bought from any of the listed exchanges and then can be sent to Daedalus, which is Cardano wallet for safe storage. This particularly amazing feature of Cardano can play a pivotal role in its value development beyond $10 in coming days.
This is admittedly the one coin that could transform the crypto market as we reckon in the upcoming years.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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