Cardano appears to be one of the younger cryptocurrencies with the most potential given its developers’ plans for the future. But the asset has already moved in leaps and bounds this year, also boasting remarkable strength amid the crypto dip observed last month.
The devs recently announced the rollout of the Alonzo testnet alongside a roadmap for the continued improvement, with the highly anticipated smart contract capability soon to be a prominent feature.
Cardano’s Impressive Milestones
Cardano had has a very progressive 2021 and is one of the crypto assets garnering the most interest. Last month, the feat of over a million ADA wallets being opened was achieved, which could be attributed to the upcoming introduction of smart contracts. The digital coin has also pulled over 600,000 staked addresses, with the total staked value at over $40 billion.
There are over 2,500 stake pools currently active. And, where Reddit subscriptions are concerned, there are over half a million.
The recent announcement regarding the plans for Cardano indicates August will be an endpoint in terms of Alonzo’s implementation. The rollout will be introduced in three phases: blue, white, and purple. Each of the phases will bring about new features, which will likely lead to even more milestones.
The altcoin was trading at $1.7 at the time of writing.
Cardano vs. Ethereum
Cardano is considered to have more upside than Ethereum, although the latter far exceeds it in price. Proof-of-stake coins have soared in popularity over the last few months, making ADA a very serious consideration. The high transaction fees and energy required to mine ETH has seen it get on the end of lots of criticism and, while there are plans to transition to PoS, that’s still well over a year away.
Ethereum’s founder Vitalik Buterin spoke about Cardano’s developer Charles Hoskinson this week. Buterin launched Ethereum at the age of 19, working with eight devs in the initial stages. Hoskinson was one of those developers but went his own way after a disagreement with Buterin over the path Ethereum should tread.
Speaking on the Lex Fridman podcast in a recent interview, Buterin claimed to have been told his former partner has come a long way since their split.
“Charles has clearly progressed and matured in a lot of ways,” he was quoted as saying. “2021 Charles is very different from 2014 Charles, and I’m sure 2021 Vitalk is very different to 2014 Vitalik.”
Meanwhile, Hoskinson has asserted that the inbound Ethereum 2.0 will be no match for Cardano.