Cardano’s blockchain ecosystem is one to watch. Every day, new developments and innovation are announced. Yet, not everything that’s connected to this product is falling into a favorable light in the media. Cardano may not be as open-minded as people once believed.
Charles Hoskinson (the creator and CEO) of Cardano has frequently tweeted about his time in Number Theory as a Ph.D. student, but never got to finish it. However, crypto-journalist Laura Shin has recently brought to light, through interviews with Hoskinson’s undergraduate school and supposed Ph.D. program, that this isn’t actually the case.
Hoskinson is not a participant in the Ph.D. program. The university has no records of Hoskinson. Hoskinson’s undergraduate degree is not complete, which makes it even more troubling. It also raises the question of why he claimed to pursue a Ph.D. while completing a minimum level college.
Hoskinson took to Twitter to defend his self, but after Laura Shin produced print screens of Hoskinson’s tweetsHe stated in a statement that he had attended a Ph.D. program. Since then, he’s gone silent on the issue. Cardano’s CEO appears to quickly be trying to turn the tables and make people forget his public indiscrepancies.
It is once more a question of efficiency to have public figures at the core of a brand. Hoskinson may be under attack, but Cardano represents a project that is going through a period of rapid growth. In this article, we’ll be moving past the news around Hoskinson and looking directly at the Cardano project itself.
Despite the recent debate around the founder’s credentials – or lack thereof – Cardano is still shaping up to have a particularly interesting year. These are some things you should be looking out for in the next few months.
Cardano, a primary layer one ecosystem
Layer 1 ecosystems are the reference to blockchain base networks and their underlying infrastructures. Chains like Ethereum and Bitcoin make up the most important layer one ecosystems. However, Cardano as well as Solana and Cardano are now key players on the market.
Cardano was created by Ethereum co-founders in the late 2021 and 2022. Cardano aims to be more efficient than Ethereum by transferring interesting projects from Ethereum to Cardano.
Cardano’s layer one infrastructure actually provides scalable solutions. Cardano is able to achieve scaleability via layer two scaling solutions. However, the Ethereum network has this capability.
Hydra, which is Cardano’s scaling system, will enable this blockchain to process high-throughput transactions constantly on-chain. This ability allows Cardano, which has a core problem with Ethereum’s high transaction fees and low transactions per second to thrive, to grow more quickly than Ethereum.
Cardano is growing rapidly and this layer-one blockchain scalable solution will ensure that Cardano has all it needs for success.
Impressive Projects Go Live
Cardano has a lot of exciting things happening this year. The blockchain now has the infrastructure it requires, and a wide range of decentralized applications, markets, DEXs, as well as projects, are being developed. There are currently over 500 Cardano projects, covering everything, from NFT database to decentralized exchanges, and showing the variety of possibilities that can be made within the Cardano system.
This is the core of any blockchain. The integrated apps provide further value to the blockchain. Some of these exciting releases even reach into stable-asset liquidity pool decentralized, giving users more value for their crypto.
Ardana is an asset-backed, stable currency protocol native to Cardano. This protocol allows for the lending, borrowing and stake of cryptocurrency within this Blockchain. This exciting project is also getting media attention. Great ideas such as these are bringing more attention to Cardano’s ecosystem. Ardana received $10M in investment, which shows the amount of capital that people want to invest into Cardano-linked system.
This project goes beyond financial function, and Empowa is the most viewed Cardano project. The project makes use of DeFi and has the potential to create housing for 50 millions people in Africa.
The project increased Cardano’s visibility. Empowa used cryptocurrency to expand its reach in the third world. With sites like Yahoo Finance, CoinBureau, and Forbes all commenting on this Cardano-based project, it’s no wonder that more people are hearing about this ecosystem and starting to invest.
With projects like these meeting social, economic, and financial areas of expansion for Cardano, it’s no wonder that people are flocking to this layer one ecosystem in droves.
Initiatives for Security and User-Driven Internet 3.0
Cardano’s embrace of security features and measures is another important aspect they have prioritized in recent months. While one of their main rivals, Solana, has recently experienced a range of hacks, Cardano’s focus on safety has kept them protected at all times.
Cardano has seen the birth of security projects that now exist. Profila is a project that allows people to have control over their data. It lets them sell their data directly to businesses instead of having their personal information taken and sold. This project attracted so much attention, even the Swiss government now sponsors it.
Profila, a project that uses Cardano to build a Zero Knowledge Token(ZKT), which users can get by sharing their data. Brands that work with the platform get a greater pool of data because users are able to actively answer questions and share their data with marketers. The innovative platform completely protects the user’s data and puts the control back in the users hands.
Considering Web 3.0 is all over the media right now, a movement that prioritizes user-power and taking back agency from the middlemen services of Web 2.0, it’s no wonder that a project of Profila’s scope has gained so much attention.
Cardano lends itself to stake in a time where interest is high
America is not a financially stable country right now. Americans are losing more than ever before, with gas prices at all-time highs and interest rates reaching almost 8% early in 2022.
This economic backdrop is why people want to quickly find solutions that will turn the tide against inflation. This is why cryptocurrency staking is becoming more popular. The process of crypto staking involves users putting their funds into a Proof of Stake Protocol liquidity pool to receive interest. The rates are dependent on how long the money is left.
Cardano, a Proof of Stake protocol is designed to allow people to stake cryptocurrency. ADA offers an excellent cryptocurrency that allows you to do so, with its high interest rates over short periods. One example is that users can give a set amount of cryptocurrency, and then receive rewards at 5% APY for a period of 15 days.
Cardano is a strong security platform, and crypto that’s deposited in these staking areas are completely secure. It makes this an excellent choice for those looking to escape the American inflation rates.
Last Thoughts
Cardano is looking forward to an exciting year, with security being a key focus and new projects constantly announced. Cardano, which is seeing inflation rates rise rapidly, has been a popular choice for those seeking staking solutions. This further illustrates why Ardana was so well-received in the recent months.
While the founder of Cardano certainly isn’t having the best start to the year, the layer one blockchain itself is shaping up to have a record 2022. This year is a good time to be watching for the evolution of the ecosystem.
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