The competition to become more relevant in the cryptocurrency industry is pushing issuers to up their games. It’s a typical dog-eat-dog, and they don’t seem to have a choice here. Indeed, any issuer who is not ready to make some effort towards making its cryptocurrency better will definitely lose its place in the market. Well, to Cardano (ADA), a bull run is all that matters at the moment. This might explain why their founders are on a quest to upgrade the platform. Let’s review how this cryptocurrency may take over soon.
Here are the three factors that make ADA unique
- ADA is the cheapest among the 10 biggest
The coin is doing well to maintain its spot among the top 10 biggest cryptocurrencies by market cap. The cryptocurrency is also the cheapest among them making it a unique digital asset. For trading at $0.171 at the time of writing, it remains one of the most-circulated cryptocurrencies. With roughly 26 billion ADA in circulation and a total supply of 31.1 billion, when ADA deploys all the layers it intends to, it could be the most circulated cryptocurrencies.
- The developers are steadily incorporating new features
The truth of the matter is ADA is only in its infancy because its developers are just deploying its layers. The first layer was introducing a settlement layer that was seamlessly connected to the control layer. It (the control layer) will house the smart contracts of the platform. With a view to improving on the platform Satoshi Nakamoto described in his 2008 white paper, the ADA developers are committed to building a truly decentralized platform through Shelley protocol.
- Institutional investors are eyeing the platform
The worst forms of investors an issuer can bank on are speculative investors because they can dump any platform for another in continuous search of greener pastures. This is in contrast to institutional investors. Because ADA looks very promising, there is belief that it may soon see institutional investors start investing in the project.
Cardano mirrors something monumental that is about to happen to the crypto industry. Analysts have always speculated about the most attractive projects that institutional investors will probably invest in. Experienced crypto pundits know that the Wall Street moneybags show up to the party, they could choose ADA because of its architecture and business model.
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