This is a forward-looking Cardano (ADA) price prediction for your information purposes only.
Ethereum killer is a phrase that has dominated the crypto scene.
Cardano is one of the projects considered as an “Ethereum killer” due to its high scalability and low cost.
What is Cardano (ADA)
Cardano claims to be the first blockchain project that is developed based on scientific philosophy.
It is one of the first third-generation blockchain projects designed and built by academics and engineers from the blockchain community.
What Cardano offers is a blockchain that is safe, flexible, and above all, scalable.
To put in context, scalability is a significant problem that Ethereum faces.
You may have noticed that it takes a while to confirm when you send funds across the Ethereum network.
This is due to the problem of scalability since a lot of people are using the Ethereum network.
Cardano is built to solve this problem by offering a highly scalable platform that can take millions of transactions while maintaining cheap fees.
The history of Cardano (ADA)
As earlier said, Cardano is regarded as an Ethereum killer and not surprisingly traces its origins to Ethereum.
Charles Hoskinson, one of the co-founders of Ethereum, became tired of the direction it was heading and left the projects.
Hoskinson took his ideas and began to develop the Cardano blockchain project alongside other global academics and engineers in 2015.
This project was named Cardano after mathematician Geralamo Cardano and launched in 2017.
Since then Cardano has continued to release new developments as it looks to achieve its aims and visions.
Unique Features of Cardano (ADA)
What makes Cardano different from other smart contracts cryptocurrencies like Ethereum?
The most essential features of Cardano are:
- Proof of stake protocol
- Highly scalable
- Greater versatility with regulations
- Easy programming language
1. Proof of Stake Protocol
Cardano uses the Proof of stake protocol on its blockchain network.
This is less energy-consuming than the Proof of work used by Bitcoin and Ethereum.
You may have heard that the total electricity used for mining bitcoins is more than what several countries in the world use in a year.
Cardano eliminates heavy machines’ use to mine its coin ADA and uses staking to achieve this goal.
On Cardano, users stake their ADA Tokens on the smart contract and secure the blockchain in return for rewards.
At the moment, Cardano is the blockchain project with the highest amount staked on its platform.
A whopping $18 billion worth of ADA has been staked on its smart contract representing 42% of the total tokens in circulation.
This is remarkable and shows the confidence that the Cardano community has in the project.
2. Cardano (ADA) blockchain broken into phases
You cannot mention Cardano without acknowledging the various phases of the blockchain project.
Cardano is one of the few blockchain projects that is developed in different phases.
The first phase called Bryon was initiated when the mainnet was launched in 2017 and was a preparation phase.
After the Bryon phase, came the Shelley era which was designed to be the first step towards full decentralization.
This is the phase where the platform becomes more community based and involved major staking from the ADA community.
Following the Shelley phase, is the Goguen era which represents the integration of smart contracts.
This is the period where developers can build decentralized applications on the Cardano blockchain.
Basho phase is the era where Cardano is able to integrate scalability and interoperability on its network.
Sidechains (new blockchains) will also be introduced, and it will herald new products on Cardano.
Finally, we reach Voltaire, the last phase of Cardano, and this represents the full development of the crypto project.
This era is defined by the introduction of a voting and treasury system.
Users will be able to use their tokens to vote and influence the future development of the network.
The Cardano Native Token ‘’ADA’’
Now that we are through with the technical aspects of Cardano let’s delve into the native token of Cardano “ADA”.
ADA has the same use-case as bitcoin – peer-to-peer electronic cash – but is faster and cheaper to use.
You can pay for goods and services with ADA, the same way you buy your regular snack with fiat.
Also, many people speculate with it, and you can easily trade ADA on popular crypto exchanges and make profits when the price increases.
ADA is also a “digital cash” that can also be used as an investment tool like stocks and shares.
Fun fact about ADA:
Did you know that the Cardano coin —ADA— is named after the mathematician “ADA Lovelace”?
Now you know.
Cardano (ADA) Fast Facts
All-Time High: $1.33 (January 04, 2018)
All-Time Low: $0.01735 (October 01, 2017)
Cardano (ADA) Price Prediction for 2020 to 2025
Cardano (ADA) Price Prediction for 2021 ($2)
As of the time of writing this article – February 12, 2021, Cardano (ADA) is exchanging hands at $0.93.
Cardano is currently on a bull run and has gained over 50% since January.
Obviously, Cardano is getting closer to its all-time high of $1.3 achieved in 2018.
If the current run continues, Cardano will most likely hit $2 per token.
That’s a return of 115% if you buy the coin at the current price.
Cardano (ADA) Price Prediction for 2025 ($20)
The long-term growth of Monero is even more encouraging.
Cardano development is in different phases, and as the project continues to evolve, the price will most likely increase.
The amount of money staked in Cardano already shows how much faith people have in the project.
Over 69% of the total market supply of $45 billion coins is currently in circulation.
Since the majority of the circulating supply is staked, there could be a shortage of supply.
This will result in a ripple effect and a price of $20 per coin is very realistic in the next 5 years.
For Cardano to trade at this price, it will have to appreciate by over 2000%.
In my opinion, the target is conservative given what lies in store for the project in the ever-growing cryptocurrency market.
Smart contract blockchain projects are the bedrock of the crypto and DeFi industry.
Several projects have been proposed to compete with and flip the industry leader Ethereum and Cardano is well placed to make headway in this direction.