Cardano is a relatively new crypto currency but is quite a fast moving member of the now legendary $1 billion club of crypto currencies with a market cap of $9 billion that is also rising very fast. As with other newer crypto currencies, it has a lot more scope than Bitcoin since it has several innovative payment method schemes. Cardano is becoming very popular in the Asian market and it is being adopted rapidly there too.
Cardano is creating a buzz in crypto circles, especially after its price surged to more than $1 a few weeks ago. Quite an unexpected feat for a project that is still under development. But if you have not yet invested in Cardano, you still have room to do so. That’s because there is a good chance that this coin will hit $10 by 2018/19. Yes, you got that right! Cardano (ADA) is primed for a valuation of as high as $10 within the next one year. Let’s break down the reasons why.
Security is definitely one of the aspects that will propel Cardano forward in the coming months. Unlike Ethereum, Cardano is using a hi-tech proof-of-stake algorithm known as Ouroboros. There is consensus among the developer community that this algorithm can successfully defend against blockchain attacks. This makes it a step ahead of other coins such as Ethereum, which by the way has been hit by hackers in the recent past. Now if Ethereum with its flaws is valued at more than $1000, imagine how Cardano which is technologically superior will be worth once the development is over. Perhaps a valuation of $10 is quite conservative too.
Imagine a crypto-currency that you can easily use for day-to-day shopping with a debit card. That’s quite a feat for a new coin, right? Well, that’s part of what is in the pipeline with the Cardano project. The launch of a debit card is part of what the developer team is currently working on. Given that real-life usability is part of what gives a cryptocurrency value, Cardano automatically stands out as one of the most practical coins in terms of utility. On this basis alone, Cardano will hit more than $10, since it’s one of the tokens that have successfully pulled this feat.
Bugs can lead to losses for cryptocurrency investors, but unfortunately they are part of the crypto ecosystem. Well, now there is a coin that is almost bug proof, and that’s Cardano. But why is Cardano unique on this front? This is due to the fact that it is written with Haskell, an extremely versatile programming language. This language is mathematical, which allows 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 strong tech behind it, it is quite clear that Cardano is headed to the moon. A $10 valuation is not unimaginable in the next few months.
Most new tokens in the market have no functional wallets, which exposes investors to hackers. That’s something that the Cardano developer team has already worked on. The Cardano wallet is very secure and easy to use. All you have to do is buy your Cardano on any of the exchanges that list it, then send them to the Daedalus (Cardano wallet) for safe storage. This exceptional aspect of Cardano (ADA) will play a role in its price growth towards $10 and beyond. This is indeed the one coin that could revolutionize the crypto market as we know it, within a few years or even less than that.