Cardano, (ADA) suffered a severe downtrend during the recent months due to the market taking another plunge for lows. This sixth cryptocurrency has had a positive year, thanks to several improvements on its mainnet.
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First, Cardano successfully transitioned to a Proof-of-Stake consensus in 2020, shortly after the D parameter reached “0” signaling the full decentralization of block production. Since the former control the majority of stake pools producing blocks on network, it transformed from a network federate consensus into a community-based consensus.
Later, the start of a new era with the first of 3 major Hard Fork Combinator (HFC) events with the implementation of “Allegra”, followed by “Mary”. These upgrades brought new capabilities to the Cardano mainnet which were completed with “Alonzo” that introduced smart contract capabilities into the blockchain.
Already, this ecosystem is seeing a surge of projects as users and developers rush to take advantage of the UTXO model’s benefits. ADA Whale is a community member. sharedHis top predictions could help boost another rally in support of Cardano’s underlying cryptocurrency.
For 2022, 1/Ten Cardano forecasts. They’re imo simultaneously conservative, achievable yet ambitious
After a year, you will see how accurate or inaccurate I was. I don’t expect 100% accuracy, but perhaps 50-75%.
Do not talk about price, prices will simply follow the natural order of events.
— ADA whale (@cardano_whale) December 30, 2021
ADA Whale pointed out the potential rise in Cardano’s transactions and active addresses. According to the investor, these fundamentals can increase by five leading to massive adoption in 2023.
Cardano is still one of the most used networks. There are many ways to scale, gradually in order to maintain growth and then exponentially by 2023.
A new wave in adoption could result in more projects. Investors estimated that there would be 250+ decentralized apps, DeFi platforms and launchpad by 2022. According to the investor,
Cardano DeFi starts slowly but TVL >$10bn eoy. Dapp store goes online with different levels of certification. Cardano DeFi makes it easy to replace the banking stack. Digital Identity is a great way to connect DeFi and the real world. UTXO DeFi is different and will work better
Cardano and Its Future Potential
Cardano, in addition to being secure, has been adopted worldwide by businesses and organizations with a global reach according to ADA Whale. Singularity and World Mobile are just a few examples.
These collaborations put the ecosystem in diverse sectors and allow for close relationships with government in developing economies. Cardano intends to expand its partnership network over the next few years, as it seeks to make basic services more accessible, open and decentralized.
The network is developing interoperable capabilities in the interim. ADA Whale mentions Milkomeda as a milkomeda solution that provides Cardano compatibility with EVMs. These types of solutions can be used to onboard developers and users.
Similar Reading: Cardano Project Flickto Exceeds 1.5 million ADA Steaked Within a Month of Launch| Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch
ADA is trading at $1,36 as of press time. There has been sideways movement over the last day.
