Input Output Hong Kong (IOHK) has been stealing the cryptocurrency spotlight with their product, Cardano, for quite some time now. Whether it’s a spree of updates to make Cardano visually appealing to approaching blockchain independence with the upcoming release of Shelly TestNet, chances are, you have read something about the home of ADA. Cardano is evolving to become the leading cryptocurrency, and IOHK wants you to keep that in mind.
What’s clear is that ADA is in strong hands. Cardano is working hard to hold a significant position in the cryptocurrency domain. It doesn’t matter that Stellar has replaced Cardano at the 7th place rank in the cryptocurrency market, according to CoinMarketCap.com, in the long run, what matters is that ADA retains solid support in the cryptocurrency community. IOHK want you to know that the recent setback won’t matter in the long run with a rush of updates and a well-coordinated timeline setup.
Cardano has scheduled multiple TestNets, a brand refreshment for the first time, and many collaborations with different cryptocurrencies including the recently announced ZenCash collaboration, among others. Why so many activities?
IOHK wants to influence investor confidence. So when experts suggest that Cardano has the potential to hit a value of $10 in the five years, Cardano’s product development backs this claim. An updated platform, refreshed brand to influence more users, and numerous collaborations, all imply that Cardano investors will gain immense profits in the future for holding on to ADA.
ADA is currently in an unstable state. However, this is the case for the entire cryptocurrency market in general. So, ADA prices are comparatively more affordable now than it would be in the future, once IOHK’s ambitious plan comes to fruition. Cardano is not a blue-chip crypto with an already established and mature platform like Ethereum. Cardano is still working to evolve its platform. They continue to work on improving the security of the platform by disabling Node.js integration in the Daedalus Wallet rendering process. Storybook, the UI development environment used for rapid UI prototyping and inclusion of the existing wallet screens, has been added. The wallets backend has also been improved, as well as networking communication protocols, website updates, and revamping, and the Goguen project updates, among other Testnet updates.
Continuing their collaboration, IOHK and ZenCash are now working on two projects. One project is “Treasury” which will allow the community to select the project to be funded and the direction of further cryptocurrency developments. The second project is the consensus scaling protocol to enhance the throughput of the cryptocurrency.
More collaborations and projects will be announced soon.
At its current value, ADA presents investor a pretty low entry point. The only thing ADA is not promising is huge return in a matter of days.