Picture Doc from Back to the Future holding your shoulder panning his hand over the horizon of a futuristic city with flying cars while explaining that the future of crypto is here. That is certainly the visual that Cardano’s website is trying to paint for you. I implore you to do a little digging on if for nothing but a good laugh, one example reads “We have changed science. We have changed what it means to build global systems and sustainable models of exchange” Although their entire website reads like a marketing guru’s wet dream, let’s try to put on some boots and drudge through the bullshit.
So for one let’s look at when it started (2015) so although it hasn’t been around the crypto space forever 5 years is tantamount to an epoch when it comes to most alt coins longevity. Another thing that strikes me as something to look at is the platform’s name; Cardano was named after Gerolamo Cardano, a particularly interesting mathematician of the Italian renaissance most notable for his gambling and work with probabilities which is particularly apt. The currency built on the Cardano platform is ADA which comes from Ada Lovelace, another famous mathematician who published the first algorithm intended to be computed by machine.
While you may think the names are of seemingly little value the founders chose them for a reason and it gives us some valuable insight into the creators and their motivations.
So aside from cute nomenclature there are plenty of coins that offer decentralization or are self sustaining or even have a backbone built for smart contracts. What I see that makes Cardano different is how heavily it leans on peer reviewed research. We can say what we want about peer reviewed research but in general it is pretty much the backbone on which modern science is built. From the discovery of vaccinations to the discovery of gravitational waves, peer reviewed science plays a pivotal role.
Now the backbone language of Cardano presents another issue, it’s built on Haskell which most programmers will tell you is rife with problems. That being said I do believe it is a stable language with a long use history and a lot of updates that have improved prior issues. It also allows for more robust programs and has a strong focus on correct code, which lets be honest is important if we’re all to put our money on it. Obviously some pretty big players have already adopted the Cardano platform. The country of Georgia, the Ethionpian government, and New Balance athletics have all begun to utilize the Cardano in different applications. The first two you may be scoffing at but emerging economies adaptation of blockchain technology and cryptocurrencies will likely be what drive the space before we see large scale first world country adoption.
So overall ADA and Cardano have both real world applications, a solid foundation, and some groundbreaking partnerships that could drive the price of ADA to new highs.