While the altcoin market was undergoing a crash due to the massive price depreciation of Bitcoin, the ADA still managed to move up in ranks. The third generation crypto, ADA that had been aiming for a new ATH for many days, finally reached $1.86 last Thursday. This is considered to be a 900% raise for the Cardano native token. Taking the place of the third-largest cryptocurrency by market cap, the altcoin has left behind Ripple, Binance token, and Dogecoin.
At present, the cryptocurrency is trending at $1.7 and seems to be aiming towards an evaluation of $2 eventually. These massive new gains are followed by the announcement of smart contracts ability in the upcoming months. The blockchain has also become completely decentralized over the past few weeks and started to launch new projects for better scalability and DeFi application compliance. A big difference was made when Cardano’s founder shared the comprehensive road map for the blockchain.
Charles Hoskinson Opines that Blockchain Technology would soon Replace the Traditional Financial Systems
The founder of Cardano, Charles Hoskinson, has said time and again that Cardano would surpass all cryptocurrencies, including Bitcoin. However, in a new YouTube video from his official channel, he declared that blockchain technology in all its present glory is only a budding technology. He further added that the DeFi would revolutionize the mode of traditional payment systems known to humans.
In his opinion, the nascent blockchain technology possesses all the important tools that are needed to become a complete monetary infrastructure. According to his new video statement, blockchain technology would create bigger ease and monetary mapping for the consumers in the next decade. This one-decade progress would be many times bigger and more universal than what traditional and centralized banks have been able to achieve in the last century.
The DeFi and Blockchain would Serve Cure the Issues with the Present Banking Facilities
Charles Hoskinson, the creator of Cardano, has published a new video talking about the impact of blockchain technology. In the video log, he claimed that he has already become a crypto billionaire. On the other hand, he said that cryptocurrencies would create a way for consumers to get out of the vicious cycle of corruption, nepotism, and other issues plaguing centralized monetary systems.ols.
Commenting on Bitcoin, he said that most cryptocurrencies are being pegged to Bitcoin thus far. However, after the recent successes of Cardano, it has managed to break away and walk out from the shadow of Bitcoin.