Cardano(ADA) is what BTC was MEANT TO BE. Best long term hold?
If you haven't looked into fundamentals of Cardano(ADA), you are basically missing out big time. It's a "blockchain 3.0". Bitcoin was a good idea and was invented by an individual or a small group about 10 years ago. Will the first invented technology become the most adopted one? I don't think so.
Cardano uses Bitcoins design as it's foundation, with added improvements that Bitcoin lacks. Those are scalabililty, interoperability and sustainability.
1) Sustainability
Bitcoin can currently process around 3-7 transactions per second and the current roadmap is to scale off-chain on networks such as Lightning Network(LN), which enables basically free and instant transactions. The question is, who is going to sustain and improve the protocol? There are currently like 10 people or less working on Bitcoins most needed scalabillity feature(LN), which has been in development for years with slow progress(it is working in beta now though!). My point is, the biggest, most valued cryptocurrency and less than 10 people are working on it's most needed feature. This does not sound like the future of money to me. Imagine if there was an entity, an organization, that would educate and promote people to work on their platform. Currently Bitcoins codebase is being sustained by mostly volunteers and a few organizations that are funding developers out of their own pockets.
Cardanos plan is to integrate a treasury system, where a percentage of inflation goes to fund the development to create a self-sustainable system/protocol.
2.) Scalabillity
According to Charles Hoskinson, scaling the network is a gradual process that will take some time to complete(currently can handle around 250tps). Bitcoin is a peer-to-peer network, where everyone gets to see all the transactions, which means the network is not scalable at the core. Cardano plans to solve scalabillity problems with on-chain and off-chain solutions, as well as parallel scaling. They are also working with a firm/team that basically invented the core protocol of the internet(TCP-IP), who are now tryin to create a similar protocol for decentralized networks
3)Interoperability
Cardano is doing research into sidechains. For example you could transfer Bitcoin to Cardano network and then send Bitcoins on Cardano as an asset. Say Bitcoin becomes the worlds reserve global currency, but transactions on Bitcoins network are too expensive to use - You could be sending Bitcoin on Cardano for low fees.
Another problems are the forks, where-as in Bitcoin if a conflict is reached, a network is split in two. With Cardano you can just create a new chain with bigger blocks to fit more transactions, but the base currency(ADA) is the same and can be transferred between both of those chains.
Cardano by design is basically the same as Bitcoin. It works as a settlement layer for security purposes. It enables the most basic option, which is sending and receiving the currency(ADA). Then it also has a computational layer, where smart contracts are ran(same as RSK on Bitcoin).
Smart contracts can be programmed in haskell which enables high assurance code(mathematical checks, that the code will do what it's supposed to do). This is needed where a lot of money can be lost due to bugs in the code(to prevent events like Ethereum DAO hack, parity hack,...).
All programming languages are going to be supported for smart contracts on Cardano. No other cryptocurrency has this(Ethereum has Solidity, EOS has C++). This lowers the barrier
Cardano is based by scientific research, works with academics and their work is peer-reviewed by top cryptographers. If we are supposed to have a global protocol for money, i think standards have to be set and approved by worlds top mathematicians and cryptographers.
If they are not going to do it, then who will?
It's not going to be Bitcoin, it's going to be Cardano. Don't trade to get more BTC, trade to get more ADA.
This is the coin your ancestors will want to inherit.
Cardano uses Bitcoins design as it's foundation, with added improvements that Bitcoin lacks. Those are scalabililty, interoperability and sustainability.
1) Sustainability
Bitcoin can currently process around 3-7 transactions per second and the current roadmap is to scale off-chain on networks such as Lightning Network(LN), which enables basically free and instant transactions. The question is, who is going to sustain and improve the protocol? There are currently like 10 people or less working on Bitcoins most needed scalabillity feature(LN), which has been in development for years with slow progress(it is working in beta now though!). My point is, the biggest, most valued cryptocurrency and less than 10 people are working on it's most needed feature. This does not sound like the future of money to me. Imagine if there was an entity, an organization, that would educate and promote people to work on their platform. Currently Bitcoins codebase is being sustained by mostly volunteers and a few organizations that are funding developers out of their own pockets.
Cardanos plan is to integrate a treasury system, where a percentage of inflation goes to fund the development to create a self-sustainable system/protocol.
2.) Scalabillity
According to Charles Hoskinson, scaling the network is a gradual process that will take some time to complete(currently can handle around 250tps). Bitcoin is a peer-to-peer network, where everyone gets to see all the transactions, which means the network is not scalable at the core. Cardano plans to solve scalabillity problems with on-chain and off-chain solutions, as well as parallel scaling. They are also working with a firm/team that basically invented the core protocol of the internet(TCP-IP), who are now tryin to create a similar protocol for decentralized networks
3)Interoperability
Cardano is doing research into sidechains. For example you could transfer Bitcoin to Cardano network and then send Bitcoins on Cardano as an asset. Say Bitcoin becomes the worlds reserve global currency, but transactions on Bitcoins network are too expensive to use - You could be sending Bitcoin on Cardano for low fees.
Another problems are the forks, where-as in Bitcoin if a conflict is reached, a network is split in two. With Cardano you can just create a new chain with bigger blocks to fit more transactions, but the base currency(ADA) is the same and can be transferred between both of those chains.
Cardano by design is basically the same as Bitcoin. It works as a settlement layer for security purposes. It enables the most basic option, which is sending and receiving the currency(ADA). Then it also has a computational layer, where smart contracts are ran(same as RSK on Bitcoin).
Smart contracts can be programmed in haskell which enables high assurance code(mathematical checks, that the code will do what it's supposed to do). This is needed where a lot of money can be lost due to bugs in the code(to prevent events like Ethereum DAO hack, parity hack,...).
All programming languages are going to be supported for smart contracts on Cardano. No other cryptocurrency has this(Ethereum has Solidity, EOS has C++). This lowers the barrier
Cardano is based by scientific research, works with academics and their work is peer-reviewed by top cryptographers. If we are supposed to have a global protocol for money, i think standards have to be set and approved by worlds top mathematicians and cryptographers.
If they are not going to do it, then who will?
It's not going to be Bitcoin, it's going to be Cardano. Don't trade to get more BTC, trade to get more ADA.
This is the coin your ancestors will want to inherit.
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