Charles Hoskinson, an American entrepreneur and the creator of Cardano shared his thoughts on Cardano. The creator of the Ethereum-alternative believe
is probably going to become the biggest cryptocurrency in the world. To back his bullish comments on the project, Hoskinson attributed the project’s sustainability, scalability and interoperability set it apart from the approach taken by blockchains like Bitcoin and Ethereum.
A recent update in Cardano, the Alonzo upgrade, powers smart contracts on the altcoin’s blockchain and supports dApps and DeFi projects and their development in the ADA ecosystem. Cardano’s utility and potential market reach are therefore drivers that can beat Bitcoin,price is in a downward trend and exchanging hands at $0.2589. The altcoin is below its three long-term Exponential Moving Averages at 10,50 and 200-day at $0.2665, $0.2890 and $0.3344.
Hoskinson’s commentary did not act as a bullish catalyst for ADA price and it remains to be seen whether the altcoin will begin its recovery from the downward trend.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
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