Cardano Price Prediction [UPDATE]: Reasons Why 2019 Will Be Good for Cardano

  • Jack Thomas
    🤷 Opinions

    Cardano has been touted as the Ethereum killer and is starting to prove it has what it takes, meaning 2019 could be a good year for it

Cardano Price Prediction [UPDATE]: Reasons Why 2019 Will Be Good for Cardano
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Cardano has shown that it is a real contender in terms of competitive cryptocurrencies and is only gaining in its growth and potential. Does that mean 2019 will be the year that Cardano’s price explodes and overtakes Ethereum?

Cardano was born in part from former Ethereum co-founder Charles Hoskinson and was created in order to take smart contracting on the blockchain further. Cardano has openly expressed that it wants to overtake and ‘kill’ Ethereum.

With Ethereum also having a rather bad 2018, slumping in its own growth and adoption, there has come a perfect time for Cardano to launch its attack and potentially push to dethrone Ethereum.

If this was to be the case, with the positives that are happening around Cardano, there would no doubt be a boost in its price, and the price prediction surrounding the coin would need updating for 2019.

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Showing potential

Like many other coins, Cardano reached new heights back in January of 2018 where it topped at being valued at over $1. However, its price today has fallen far, dropping down to as low as $0.04.

That being said, many coins are taking this time to consolidate and build their project rather than the hype and speculation around them. They are thus starting from the ground up, beginning with their algorithms.

They have developed three algorithms with modifications called Ouroboros, Ouroboros Praos, and the latest being Ouroboros Genesis.

Ouroboros is the first ever mathematical protocol that has proven to be secure and also the first ever to have gone through a peer review in its acceptance to crypto last year.

Making a move

Furthermore, Cardano has even shifted its base of operation to the much more crypto-friendly state of Wyoming. The governor there has expressed his admiration of blockchain, and the state has recently put forward some promising bills on blockchain and cryptocurrency classification.

Cardano is also moving its scope and range as it looks to use its technology to help development in Africa. Cardano wants to set up a digital blockchain property register which can identify land using GPS coordinates. Accordingly, the property owner can be verified and the ownership can be transferred at a very minimal cost.

Rwanda has come to accept blockchain technology and digital transformation. They are planning to fix its ledger onto a blockchain system.

Price prediction

It is difficult to see where Cardano’s price will head, especially noting its drop in just over 12 months; however, there is a lot of promise and potential around the blockchain. If they are able to continue growing sustainably and with a solid base, there is a strong chance they could become preferred over Ethereum in certain regards.

If Ethereum does not start stepping up its own game with the likes of its move to a proof-of-stake protocol, something Cardano already has, then there will be a big gap in the market for one of Ethereum’s rivals to step in.

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Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology

  • Darryn Pollock
    🤷 Opinions

    Blockchain adoption by billion dollar companies is probably a lot further along than expected as Forbes has revealed

Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology
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Forbes has recently released a list of 50 companies utilizing blockchain technology that are valued at over a billion dollars, these companies include the likes of Amazon, Microsoft, IBM, as well as less technical ones such as BP and Walmart.

What is surprising about the list is just how broad the scope of interest is when it comes to blockchain by these massive global companies. The adoption of blockchain, over the last 10 years, has been relatively slow, up until now.

But, in 2019, it seems that the future of technology has been laid out and to get a competitive edge these companies realise that there is a lot that can be done with blockchain and that they need to get their foot in the door.

Heavy hitters

While the Forbes list paints a grand picture of blockchain adoption, it also shows just how far along in the process some of these companies are. For companies to have made it onto the list, they have to have been using blockchain in some sort of effective and tangible way.

There are some, like insurance giant MetLife, which already has a working blockchain, and product, that has been going since 2014. Back then, the adoption of blockchain by major companies was not even heard of – it was more about the starting boom of Bitcoin.

But blockchain is the new leader in the space, taking over the batton from cryptocurrencies which certainly helped raise the profile of the entire ecosystem. If it was not for the cryptocurrency boom, a lot of these major companies would never even have stumbled across the underlying technology.

A drive for blockchain

Now, with the cryptocurrency market right back down again, and a lot of the speculation having been cleared out, there has been a whole year of rather focusing in on blockchain building and its application, instead of making money off speculative tokens.

That change in mindset has really helped major corporations take on the technology and begin experimenting with its efficiency and disruptive powers. There is almost an arms race going on as the advantages the technology can give across a huge spectrum of enterprises, which are massive and very coveted.

A need for enterprise investment

There still remains a debate as to whether blockchain, and crypto, with its decentralised nature, is in need of these major corporations coming in to monopolise the space which was born out of defiance of banks.

However, it would be foolish to think that blockchain can reach its full potential without a drive from big companies with big budgets. Smaller startups and companies are able to bring innovation and excitement to the space, but the mass adoption will only come when the heavy hitters are involved.

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