Cardano (ADA) Price Prediction 2018: Why This Cryptocurrency is Rallying
Just as the cryptocurrency markets were taking a breather, an underdog largely unheard of until now leapt to the forefront. Cardano (ADA) is now amongst the top 10 most valuable cryptocurrencies in the world, coveniently pushing Monero, NEO and NEM out of the way. But what is Cardano and why is the market abuzz about it? Read on for answers to these questions and more, followed by my Cardano (ADA) price prediction for 2018, which spells triple-digit gains in this cryptocurrency.
Cardano, like Bitcoin and Ethereum, is a blockchain-based platform for individuals and organizations to conduct financial transactions anonymously and privately without the interference or surveillance of a third party.
These transactions are conducted on the Cardano platform using its cryptocurrency “Ada,” the equivalent of “ether” on Ethereum and bitcoins (with a small “b”) on Bitcoin platforms.
Cardano vs. Ethereum, Bitcoin
The success of any currency, be it fiat or crypto, depends upon the scale of its adoption. The bigger the community using it, the more widespread its use and the more valuable it is.
With that in mind, the team of developers behind Cardano is promoting it as the first-of-its-kind cryptocurrency, which may appeal not only to users and investors, but also to regulators who have largely remained reluctant to legalize cryptocurrencies.
While it’s true that most altcoins are hailed for their privacy feature, complete anonymity can sometimes be counterproductive. Take the example of Monero, which is touted for offering absolute anonymity to its users. But that very feature is garnering bad press as Monero gets popular on the dark web for moving drug or black money. The negativity is beginning to scare traditional investors away.
To ward off similar stereotypes, Cardano is seeking the right mix between privacy and regulation to appeal to the mass investor community.
The Cardano platform is built in layers so that user privacy remains protected. At the same time, it allows for improvement in its technology via “soft forks” (unlike the “hard forks” in Bitcoin and Ethereum, which have ended up splitting those platforms).
Cardano uses a unique “proof-of-stake” algorithm which isn’t as capital-intensive as Bitcoin’s “proof-of-work” algorithm. In other words, miners do not require expensive hardware or a lot of power to mine ADA coins, like they do with Bitcoin. That feature makes Cardano a less costly alternative to Bitcoin.
Also Read: Bitcoin vs Ethereum: The Best Digital Currencies
Likewise, Cardano is competing with Ethereum on two fronts:
- Scalability: A downside to Ethereum is that it can only process 15 transactions per second, which renders it a slow blockchain technology. Cardano promises better scalability with the ability to process greater number of transactions at a faster pace.
- Interoperability: Bitcoin and Ethereum are good enough to entertain only their own cryptocurrencies on their platforms. By contrast, Cardano promises to not only support ADA, but also other cryptocurrencies on its blockchain. Cardano’s wallet “Daedalus” will soon allow users to store and use Bitcoin and Ethereum Classic in addition to ADA, all from one place.
With those defining features in mind, I’ll head straight to my Cardano (ADA) price prediction for 2018 now.
Cardano (ADA) Price Prediction 2018: One Cryptocurrency with Great Upside Potential
Analyst Take:
Cryptocurrencies have gained significant traction in the investor community as a growing number of people subscribe to this investment idea. But the hyperinflated prices are now becoming worrisome as fears of a price bubble grow.
In times like these, look for an undervalued cryptocurrency boasting a solid upside potential. Cardano is one option which is likely to not disappoint you.
This cryptocurrency is still under development and investors have a good chance to strike while the iron is still hot. The tailwinds I mentioned above may become the precursors of a major rally in Cardano prices in 2018.
I’m calling for triple-digit gains in Ada prices in 2018. My Cardano (ADA) price prediction for 2018 is bullish, with a price target of $1.00 by summer of 2018
...but make your own research because total circulation supply is so huge, compare e.g. to ripple
