In a recent video discussion, Altcoin Daily hosted Hashoshi, a well-known cryptocurrency expert, to delve into the future prospects of Cardano (ADA). The video, titled “Is Cardano still a good investment in 2024? Cardano Investment Thesis (ADA Price Prediction),” explores whether Cardano remains a leading project in the crypto space and what the future holds for this blockchain platform.
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What you'll learn 👉
A Different Approach to Blockchain
Hashoshi emphasized that Cardano has taken a unique approach to solving design problems in the blockchain space. Unlike many projects that are “copycats,” Cardano has been innovative from the start. Despite some setbacks, such as the late introduction of smart contracts, Hashoshi believes Cardano is well-positioned for a resurgence.
Where is Cardano Today?
According to Hashoshi, Cardano has made significant strides since its early days. The platform has improved its smart contract functionality and has focused on developer advocacy and tooling. Cardano has also launched the beginnings of its scalability solution, Hydra, and has made protocol-level updates to improve performance.
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Show more +A Vision Beyond DeFi and NFTs
While many blockchains focus on decentralized finance (DeFi) and non-fungible tokens (NFTs), Hashoshi argues that Cardano’s vision is broader. The platform aims to tackle business and socio-political issues, potentially becoming the “fabric of finance and democracy” in regions like Africa.
How Does Cardano Compete?
When asked about Cardano’s standing among other Layer 1 solutions like Solana and Algorand, Hashoshi praised Cardano for its design decisions at the protocol level. He believes that the future of blockchain will involve multiple, heterogeneous chains, and Cardano is well-positioned to be one of them.
Five-Year Outlook
In the next five years, Hashoshi expects Cardano to focus on self-sovereign identity and on-chain governance. He envisions a “thriving, democratically managed network” that is global in scope. However, he adds a caveat: for Cardano to reach new heights, it must attract developers to build on its platform.
Price Prediction
Hashoshi is cautiously optimistic about Cardano’s price potential. He believes that if Cardano can solve the “developer enablement piece,” it could surpass its previous all-time high. However, this is contingent on the platform offering real utility and attracting liquidity.
Final Thoughts
The video concludes with Hashoshi reminding viewers that the crypto space is still in its infancy and facing regulatory challenges. However, he remains optimistic, stating that these are “natural bumps in the road” for new technologies.
For those interested in the technical and future aspects of Cardano, this video serves as a comprehensive guide. As Hashoshi aptly puts it, the sky’s the limit for Cardano if it can attract true builders to its platform.
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