The price of Cardano’s ADA token also still has enormous growth potential. Right now the ADA price is extremely low due to the last major correction. But how high can Cardano go and is it worth investing now?

Cardano is a blockchain network created by former Ethereum co-founder Charles Hoskinson. The project started in 2015. Behind the project is the Cardano Foundation, which has set itself the goal of researching the difficulties of previous blockchains, finding solutions to these difficulties, and then integrating these advances into the Cardano blockchain. 

Cardano is being further developed according to scientific standards. The Cardano Foundation works evidence-based and has thus created what is probably the most technically mature blockchain on the market in recent years. Above all, the security is hardly better on another blockchain. The blockchain uses the proof-of-stake consensus mechanism, which keeps transaction costs low.

In recent months, there has been repeated criticism that Cardano is said to be too academic and puts economic efficiency in the background. Smart contracts were only fully implemented half a year ago. But the developers basically want to think long-term and develop the blockchain sustainably.

Cardano is further developing its blockchain for the long term and sustainably. As a result, the network is often overshadowed by hyped projects such as Solana, Avalanche, and Terra in the short and medium-term. But patient development ensures a level of technical excellence that could pay off in the long run. There are 5 development stages, of which the network is now in stage 4:

1. Bryon : Developing the basics of the blockchain
2. Shelley : Creation of the decentralized structures
3. Goguen : Introducing Smart Contracts
4. Basho : Increased scalability
5. Voltaire : Introduction of governance functions

The ADA token is the internal currency of the Cardano network. It was already developed at Byron and is required to carry out transactions in the Cardano network. ADA holders are involved in the network and will have more and more say over the future of the blockchain over the next few years. There is a maximum supply of 45 billion ADA, making the number of tokens finite.

The ADA price rose sharply in the last 12 months and then fell again. The price skyrocketed, especially in the fall, when Cardano smart contracts were launched there, sparking hype on the ADA. The ADA price even rose to over 3 dollars. It hit an all-time high of $3.10 on September 2nd. 

In the last 6 months, the course fell again. This was initially because other cryptocurrencies such as Solana and Avalanche experienced hype and attracted attention with high transaction speeds. Since December, the downtrend has intensified as the overall market went into a sharp correction. At the moment the price is 0.85 US dollars (as of 03/17/2022). With this oversold price, and looking at their project development status, it sounds like a good buy price.

The price of Cardano’s ADA token should be extremely low in the long-term right now. This is for the following reasons:

• The market is bearish at the moment. Over the past 3-4 months, cryptocurrency prices have been falling due to many negative factors.
• Cardano is at the beginning of its 4th development phase. Cardano is currently quiet , which means that the price remains low at the moment. 

Many analysts see a price of $10 for an ADA token as realistic in the long term. This makes sense as a fourfold increase from the old all-time high ($3) in the next bull market seems very realistic. Cryptocurrency fans believe that at the end of its development, Cardano could become the dominant cryptocurrency in 5-10 years. They see a potential of $100 per ADA token. In any case, the current price is a good entry point. 

You can now buy the ADA token cheaply on the crypto exchanges  Coinbase  and  Kraken  .

All that rhetoric that blockchain establishes in the form of trust, transparency, and security goes for a flip. This happens when you cannot use a technology to power up ambitious sectors like finance due to scalability challenges. Having said that, what happens when blockchain projects encounter conflicts within their own community, an unavoidable hard fork, and a long period of contention among investors to choose the right coin post the hard fork.

What would you say to an idea where true decentralization can be inducted to power up the project? Preferably, one would say that it might be next to impossible to get the community to vote on everything and then develop, instead of vice-versa. However, there’s one project which is preferably doing that and it could be the next big thing in the crypto space. In case, you are wondering which blockchain we are talking about, it is Cardano!

Despite some of the cryptocurrencies witnessing an unprecedented rise, they weren’t immune to conflicts of interest, hacks, and scandals. As a result, hard forks ended up as a trending term in the last few years. However, Cardano introduced the concept of true decentralization through its scientific philosophy and research-driven approach.

The crux of the project is that even the developers and project founders do not have complete control over the project. Rather, the community drives everything through a free, open-source voting process that makes the entire project trusted, verified and scalability is driven through its consensus mechanism. 

Basically, most of the renowned blockchains that the community trusts work on PoW or Proof-of-Work mechanism. Without a doubt, proof of work is a masterpiece consensus when you want very high security; nonetheless, one cannot use it for driving enterprise-level adoption. In order to do that, the blockchain must be fast but secure at the same time. 

Cardano’s Ouroboros algorithm, which is much like the heart of the Cardano ecosystem, uses PoS or Proof-of-Stake consensus mechanism that considerably saves on energy consumption and facilitates faster transactions. On top of this, the Recursive Internet Worked Architecture( RINA) allows scaling the ecosystem to meet enterprise-level adoption. For example, African countries are thinking of adopting Cardano as a payment network in their country. 

Basically, most blockchains start to choke out when enterprises adopt their ecosystem. The prime reason for the same is an overflow of data to their ecosystem. As a result, network bandwidth becomes an unavoidable holy grail that hasn’t been solved yet. Since all existing networks work on TCP/IP model, commanding scalability to happen while using a restrictive blockchain layer would mean asking a fish to climb a tree. 

That said, Cardano introduces RINA or Recursive Internet Worked Architecture which breaks the network layer into two: (1) Data transfer layer (2) Data management layer. However, in case you are wondering how communication would happen between both layers to validate the entries, a default network security layer acts as a subset for both layers. 

The recent explosion in the DeFi market has established the fact that as time passes, we could see more use-cases building on top of DeFi. Earlier we did see the DeFi 1.0 storm, now we are seeing the DeFi 2.0 storm where protocols have turned smarter and they control much of their liquidity on their own. In the near future, more use cases would emerge and the much anticipated Hydra upgrade would allow quickening of transactions on the ADA-USD chain at a fraction of a cost. 

As a result, preferably the DeFi ecosystem might look forward to moving to the Cardano ecosystem instead of Solana due to the latter's network outage track record. At the same time, investors need not have to worry about hard forks and their initial tokens losing value since the peered review is going to turn mainstream on the Cardano network. All of these would make Cardano a preferred buy option for the upcoming future ahead. 

Though most of the cryptocurrencies witnessed an inevitable bloodbath in the market recently, Cardano, often considered an underdog project, performed outrageously. The token is up 30% invalidating a bull trap ahead. Much of the price gains have been attributable to this third phase rollout and Basho update. As per the Dutch cryptocurrency trader Michaël van de Poppe, ADA is on the path to reversal after invalidating a further downside to $1 below the lower trend line. 

Thus setting the tone that no further divergence would occur within the $1.05 and $1.20 zone and we could very well see momentum building up ahead. $1.30 could be a good entry point and $1.41 could be the point where we see massive trades as per the Fib retracement analysis. 

? Buy Cardano Here?

Click on the link to initiate the process. Once you do, it will take you to the "buy Cardano" section with a credit card page as shown below. 

Click on the login as shown on the top right. We are assuming that you have a Binance account. In case you do not, you can check our other blog where we have a guided tutorial to help you set up your Binance account. 

Input the code received and once you do, it will take you to buy with a credit card.

Input the amount of ADA you wish to buy. We'll take an example of 1,000 USD and click on the continue button. 

Click on the add card option. Fill in the specimens and click on continue. Once you do, it will ask for validating the transaction within 11 seconds. 

Upon doing that, you can check the ADA newly purchased on your spot wallet. Always use a reliable cold wallet to store all your cryptos. 

Cardano went through different phases in 2021. After a solid development of the ADA token in the first half of the year with price losses after the crash in May, the ADA price rose massively at the end of summer/beginning of autumn. However, in the final quarter of the year, ADA had great struggles. How can Cardano remain successful in 2022? These two weaknesses should be addressed by the network.

All in all, the year 2021 was a very successful one for Cardano. With the introduction of smart contracts, the network took an enormously important step towards becoming an important hub for dApps and thus remaining competitive in the market. In terms of technical requirements, the network has long been considered excellent - secure, efficient, and inexpensive.

In September, the ADA token peaked at over $ 3. This happened around the "Alonzo" hard fork, which Cardano ultimately made smart-contract-capable. In the fourth quarter, however, we saw a sharp drop in the ADA rate to as low as $ 1.20. These heavy losses happened despite a record number of Cardano transactions in November. However, the major crash of the overall market was the main reason for the losses.

The strong Cardano community appreciates that the developers always act with patience when further developing the blockchain and actually design technical innovations in such a way that they bring added value in the long term. But criticism of the rather slow speed of technical innovations comes up again and again.

The fact that Cardano is pursuing a long-term plan and prioritizing safety and technical excellence is commendable. However, the network has to keep its finger on the pulse. New networks such as Solana and Avalanche made extreme progress in the last quarter and convinced numerous investors. More networks will come onto the scene in 2022. Cardano has to make sure that you don't lose touch.

Another point of criticism of Cardano is the often highly academic approach to the further development of the blockchain. The Foundation works closely with scientists on the blockchain according to evidence-based standards. However, it is ultimately the economic benefit of a project that decides whether it can survive on the market in the long term.

Cardano has to ensure that it remains competitive in the large growth markets DeFi and NFT. In the first half of the year, CEO Charles Hoskinson, therefore, wants to ensure that the commercialization of several hundred Cardano projects progresses quickly. The success of the blockchain must not only remain an academic one, it must also become an economic one.

You can purchase the ADA token from Cardano on  Binance,  Coinbase,  Kraken, and Bitfinex.

Cardano has had a very difficult time in the crypto market in the past few weeks. The price of the ADA token fell from its all-time high of over $ 3 to currently $ 1.22. The ADA token was hit particularly hard in this market correction compared to other coins. But many key figures show that the network is on the right track. What challenges does Cardano have to overcome in order to get started again in 2022? Let's look at the 3 major challenges that will contribute to Cardano 2022 comeback.

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The 3 big pillars of smart contracts and the corresponding platforms are decentralization, scalability and security. Cardano is very well positioned in all 3 areas. However, platforms like Solana and Avalanche have made extreme strides in the area of ??scalability and offer extremely fast transactions.

Thanks to the proof-of-stake consensus mechanism, Cardano was able to set itself apart from the market leader Ethereum, which is only going to switch from proof-of-work to proof-of-stake. However, developers need to keep working to ensure efficient yet secure transactions to keep up with networks like Solana and Avalanche.

After the first reason, Cardano must not forget to offer optimal scalability for decentralized applications. Again and again there is criticism that the Cardano Foundation is too academic in its work on the blockchain and has recently been left behind in terms of competitiveness.

Especially in the area of ??scalability, the network must not lose touch. Even if the blockchain were to have the best technical level overall, competitors could overtake the network on the market with significantly higher scalability in terms of smart contracts. However, improving scalability is already the next step in the development of the Cardano Foundation.

Establishing governance functions is also a development step that Cardano is working on intensively. According to Cardano boss Charles Hoskinson, the platform is working on the formation of a governance that will guarantee the participation of hundreds of companies. 

With the governance model, token holders should have the opportunity to determine future developments of the platforms on a democratic basis. The tools used are the 'Cardano Improvement Proposals', which the token holders can vote on. 

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