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Ethereum DeFi Advisor Reviewed Cardano (ADA): Results

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Fri, 27/05/2022 - 12:59
Ethereum DeFi Advisor Reviewed Cardano (ADA): Results
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Mr. Valaitis released a series of detailed reviews of mainstream blockchain platforms to address "Layer 1 maximalism" in the global Web3 ecosystem.

New-gen blockchain with vibrant community

In his Substack, Mr. Valaitis released "The Ultimate Guide to Cardano" to cover the technological, tokenomic, ecosystem and community aspects of Cardano's USP.

He admitted that he ended up spending two weeks on Cardano (ADA) research instead of the intended one week. In terms of technology, Mr. Valaitis is fascinated by the way Cardano takes after Bitcoin (BTC) in using the UTXO model and Nakamoto-style node consensus.

Also, Cardano has "relaxed" its requirements for ADA staking: no slashing procedures or ADA locking periods have been introduced by the team. ADA tokens can be staked directly through dApps: as such, 70% of the aggregated ADA suppy is staked.

Mr. Valaitis stresses that Cardano's launch was "fair" in terms of the ratio between public and insider allocations: this paved the way for more inclusive token distribution.

Breakthrough expected in NFTs

With the release of Milkomeda EVM sidechain, Cardano (ADA) will be fully Ethereum-compatible: developers will be able to move their dApps from Ethereum to Cardano. Also, Cardano is still in the top five in terms of development activity.

Flagship Cardano (ADA) DeFis SundaeSwap and Minswap have UX/UI on par with the top popular decentralized crypto exchanges in the segment. The breakout of Cardano's NFT ecosystem is yet to come:

I expect Cardano NFTs to experience breakout growth in the coming quarters as more of Cardano’s passionate community moves their funds into these collections.

Cardano's large and passionate community is "the secret sauce" behind the progress of this blockchain. In general, Mr. Valaitis is optimistic about Cardano (ADA) and claims that "everyone in the space should dive into [Cardano] at some point."

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