After years of fine-tuning its technology, Cardano has finally launched its first DEX<\/a> on January 20, called SundaeSwap. On the day of its launch, its TVL reached $4.3 million. Cardano\u2019s token, ADA, rose 10% the previous week in anticipation.<\/span><\/p>\n Has <\/span>Cardano<\/span>\u2019s time finally arrived?<\/span><\/p>\n Founded in 2015, Cardano calls itself Blockchain<\/a> 3.0. It aims to combine the best of <\/span>Bitcoin<\/a><\/span> and <\/span>Ethereum<\/a><\/span> to solve problems related to scalability, interoperability and sustainability.<\/span><\/p>\n Cardano\u2019s strength lies in its academic and scientific philosophical foundation.<\/span><\/p>\n IOHK is one of Cardano\u2019s development foundations and is responsible for working with teams of academics around the world to research and review updates to the protocol to ensure it is scalable.<\/span><\/p>\n Cardano has a great long-term vision for cryptocurrencies. It believes that the new technology of blockchain<\/a> should be at the service of businesses or financial systems. It wants to create a chain that can support thousands of transactions per second, a platform that allows governments and businesses to track information about the system, and even enable democratic governance.<\/span><\/p>\n ADA<\/span> is currently ranked seventh in terms of market cap and 15th in terms of 24h trading volume.<\/span><\/p>\n Footprint Analytics \u2013 ADA Price and Volume<\/span><\/i><\/p>\n Despite its high market cap, Cardano is a polarising project. Here\u2019s why some people it is grossly overrated.<\/span><\/p>\n The development of Cardano has been slow\u2026<\/b> Cardano only launched its first smart contracts in September, 2021, about six years after the mainnet went live.\u00a0<\/span><\/p>\n While there are over 170 projects on the Cardano chain that say they are under construction, only five so far are live. One of those is SundaeSwap.<\/span><\/p>\n Footprint Analytics \u2013 Protocols on Cardano<\/span><\/i><\/p>\n ADA tokens lack application scenarios\u2026<\/b> ADA\u2019s current role is only for staking<\/a> and the price is influenced by FOMO<\/a>. Compared to other <\/span>chains<\/span><\/a> with strong ecosystem development, ADA\u2019s token price growth has grown slowly over the past year.<\/span><\/p>\n Footprint Analytics \u2013 Top Chain Token Price Thrend<\/span><\/i><\/p>\n Concerns about its technical design and implementation\u2026<\/b> A number of issues<\/span><\/a> have been raised in the community which may indicate that Cardano\u2019s TPS, transaction fees, and scalability are not as perfect as they should be. SundaeSwap, the first Dex<\/a> on Cardano, experienced network congestion and was unable to trade when it went live.<\/span><\/p>\n The main premise of Cardano is that its super-slow development will be justified by best-in-class performance and security. Whether it can accomplish this remains to be seen.\u00a0<\/span><\/p>\n In the face of questions about the dApp<\/a> launch and technical implementation, proponents argue that Cardano is future-proof. Cardano aims to work with governments and financial institutions, so it takes longer to prepare a more secure solution.<\/span><\/p>\n Here are the main arguments for Cardano:<\/span><\/p>\n Proponents also believe that the Alonzo upgrade as the starting point for Cardano\u2019s ecosystem to explode. As the ecosystem expands, ADA will have richer application scenarios and prices will see an increase.<\/span><\/p>\n There is no denying that Cardano\u2019s vision is aspirational and comes at the perfect time, with congestion and high costs plaguing Ethereum<\/a>.<\/span><\/p>\n However, there are more strong competitors on the market than anyone likely imagined five years ago.<\/span><\/p>\n After the DeFi<\/a> Summer, dApps have exploded. Other chains are also competing extremely hard to carve out a slice of the DeFi<\/a> market. If anyone can survive, it will be the products that meet users\u2019 needs as they evolve.<\/span><\/p>\n Big whales don\u2019t care about <\/span>gas fees<\/span><\/a>, they care about liquidity. They need to get money in and out quickly with as little price impact and slippage as possible.<\/span><\/p>\n And liquidity is something that needs to be provided by a large number of users. This is an important advantage for Ethereum<\/a>, which is firmly in the lead among public chains thanks to its first-mover advantage in liquidity.<\/span><\/p>\n In other words, for all of its aspirations, Cardano needs to put its advanced concepts and technologies into practice.\u00a0<\/span><\/p>\n Cardano will be a safe bet only when more dApps are implemented to ensure the proper operation of on-chain applications and users can participate in ecosystem construction, not just token trading.<\/span><\/p>\n What is Footprint Analytics?<\/b><\/p>\n Footprint Analytics is an all-in-one analysis platform to visualize blockchain<\/a> data and discover insights. It cleans and integrates on-chain data so users of any experience level can quickly start researching tokens, projects and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anyone can build their own customized charts in minutes. Uncover blockchain<\/a> data and invest smarter with Footprint.<\/span><\/p>\n Website<\/span><\/a> |<\/span> Twitter<\/span><\/a> |<\/span> Discord<\/span><\/a>|<\/span> Telegram<\/span><\/a> |<\/span> Youtube<\/span><\/a>\u00a0<\/span><\/p>\n Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.<\/strong><\/p>\n \t\t\t\t\t\tWhat is Cardano<\/b><\/h2>\n
Controversy surrounding Cardano<\/b><\/h3>\n
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<\/p>\nThe case for Cardano<\/b><\/h2>\n
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Will Cardano explode in 2022?<\/b><\/h2>\n
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