Finally, bitcoin has encountered a formidable competitor. Cardano, the new rising star in the crypto Olympus, has considerably multiplied its market capitalization, muscling its way into the crypto top 3. So now, it is the third-biggest cryptocurrency after bitcoin and ether.
Cardano has soared by a blistering 2,000% over the last 12 months, gaining 300% in the last month alone. Its developers have already announced the upgrade known as Goguen, which will make the platform a decentralized one. "We can today confirm that the ‘Mary’ cardano protocol update is now fully confirmed for March 1. Another key milestone in the Goguen rollout, the update introduces native tokens and multi-asset support, bringing exciting new use cases for cardano," the Cardano core development team said. The price of the token has risen even higher amid this news.
"Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless. Projects such as Cardano, Polkadot, and Ethereum are the foundation of the new internet and Web 3.0. I’m willing to bet that each of Ethereum, Cardano, and Polkadot will be more valuable than Bitcoin within the next few years," Prakash Chand, Managing Director at FD7 Ventures, pointed out.
Cardano is a multi-level decentralized blockchain platform based on Proof-Of-Stake for smart contracts. The platform was created by the IOHK development team led by Charles Hoskinson, the former co-founder of BitShares, Ethereum, and Ethereum Classic. Almost 70% of all the tokens of the Cardano (AL) project are stacked, making it the most decentralized blockchain in the world.
