The founder and CEO of Cardano (ADA), Charles Hoskinson, has been making big claims about Cardano as he believes that his cryptocurrency will surpass Bitcoin(BTC) and Ethereum (ETH) in just one year. Hoskinson provided feedback immediately after ADA achieved the seventh position by market capitalization within the cryptocurrencies market.
Hoskinson and his team at Cardano is betting on the robustness of the infrastructure and technology supporting the Cardano coin. However, the recent turbulence caused in the crypto market is a party to the fact that all digital currencies are prone to major corrections. Hoskinson said,
“Why is anybody worthy of their positions in the market cap? Bitcoin is advertised as a payment system and a means of exchange, and then everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways to take cash, and through a creative structure like what Bitpay has done. Ethereum claims to be a world computer, but then CryptoKitties breaks it.”
ADA’s CEO is pretty sure that the capabilities of Cardano (ADA) to reach from a milestone to the next one on its roadmap is one of the advantages of the network and will be noticed as an important feature by the crypto enthusiasts.
Cardano is paying some serious attention to the two major issues concerning the cryptocurrency industry at the moment which includes scalability and privacy regulation. Cardano works on the proof-of-stake model of data transactions wherein the users are rewarded based on the proportinality of their holding. Additionally, the Cardano platform is also powered by Ouroboros concept which can deliver unmatched security capabilities.
Charles Hoskinson also said that investors would feel safer to invest in a cryptocurrency which possesses best and well-established protocols in the market, such as ADA has. Investing in the crypto that has the protocols implemented and are best in the ecosystem are the best option. It is titled by many as the first crypto-project born from scientific philosophy based on academic research, peer-reviewed work and software developed on open source standards.
Cardano’s e-Wallet Daedalus provides the benefits of cold storage thereby drastically reducing the issues of security breaches.
Compared to Bitcoin, Cardano (ADA) has a future cryptocurrency appeal. It offers a better value proposition and has features and confidence that investors of repute are looking for.
Although Ethereum is working hard to improve on smart contract vulnerabilities, users are not patient enough to way and are now finding Cardano as their safe haven.
Also Read: Cardano (ADA) to Lead the Virtual Reality Industry Via Its Services
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