Cardano (ADA) is alive and well, with over 175 projects currently building on the blockchain platform and over 2.5 million ADA wallets, up from 190,000 at Christmas 2020, according to BitBoy Crypto. Cardano was also the most developed crypto on GitHub in 2021, and Cardano Founder Charles Hoskinson expects the number of ADA users to increase tenfold. The company is planning to build a financial operating system in Q2 2022 that will give Africans access to decentralised finance (DeFi), and is working on developing an extensible UTXO smart contract model for Cardano smart contracts, with several hardforks planned for 2022 to implement the new eUTXO smart contract model.
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Introduction
Let’s reminisce. This time at the start of last year, I sat right here, looked straight into the camera, and told you guys, the BitSquad, that if there was one coin at the top of my list for 2021 that had the potential to make life-changing gains for you, it was Cardano.
The Gains
From the start of last year to its all-time high, ADA 17X’ed. That’s right. It went from 17¢ to 17X. This is the type of magic that’s possible in crypto when you do your homework, invest in yourself and take profits.
2022 and Cardano
2022 will be another prestigious year for Cardano. And believe me when I tell you Charles Hoskinson still has some tricks up his sleeve. Let’s get it!
BitBoy Crypto
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Recent news and updates regarding Cardano
In this video, we’re going to discuss recent news and updates regarding Cardano, the progress they made in 2021 as well as their roadmap for 2022.
The Progress
On January 1 of 2021, Cardano was sitting just above 17¢. Exactly one year later, when the ball dropped for 2022, ADA was priced in at $1.33.
ADA Is Alive and Well
Sure. Cardano has spent the last four months in a downtrend since its September all-time high of $3.10. But it’s safe to say ADA is alive and well.
Cardano’s Grand Scheme of Things
Listen. Daily charts don’t always reflect progress. When you zoom out to a macro level, you really appreciate how far this project has come.
Number of Wallets
For some perspective on the year ADA had in 2021, on Christmas Eve, the Cardano Foundation tweeted, “Last Christmas, there were 190,000 ADA wallets. Today, there are over 2.5 million ADA wallets, An increase of 1,200% in one year.”
A Household Name
Now, those 2.3 million new wallet owners are going to tell their friends and family and spread the word. It’s going to keep growing and growing exponentially. It’s well on its way to being a household name.
A Rocket Ship to the Moon
You see, I don’t know if you know this or not, But there’s a rocket ship, and it’s going to the moon. That rocket ship’s name is Cardano. You want to get on the rocket ship before you get left behind.
Developed Crypto on GitHub
But that’s not the half of it. Zhiyuan Sun from Cointelegraph recently released an article that illustrates That Cardano was the most developed crypto on GitHub in 2021.
More Than 175 Projects Building on Cardano
Charles also recently tweeted that there are more than 175 projects currently building on Cardano, and more than a dozen of them will be launching by the end of Q1 2022.
Tenfold Increase in ADA Users
He also mentioned on a recent YouTube stream That he expects the number of ADA users to tenfold. I would even go so far to say that 10X’ing his users is just him being humble. He’s the most humble person I know!
A Vision That Exceeds Competitors
The year-over-year growth across social channels increased 468% with a total social audience of over 3.2 million people. This is a man with a vision that far exceeds those of his competitors.
Financial Operating System In Q2 of 2022
Besides the deals with Tanzania and the University of Luxembourg, Charles has stated that they’re planning to build a financial operating system in Q2 of 2022 that will give Africans access to DeFi.
Upcoming Projects
Cardano has been under pressure to release a usable DeFi app since Alonzo went live back in September. Although there are are a multitude of upcoming projects still in the works, on January 2, MuesliSwap was the first to go live.
Verlux
Another notable addition coming to the Cardano ecosystem is Verlux. Verlux is a decentralized cross-chain NFT platform that’s on a mission to dismantle the traditional NFT system through its cross-chain swap feature.
The Roadmap
Without getting too far into the technical details, Hoskinson mentioned a big part of 2022’s roadmap is developing an extensible UTXO smart contract model for Cardano smart contracts.
CIPs and Decentralized Applications Ecosystem
Charles mentioned in another YouTube stream titled Whiteboard: Dapps and Development That over 20 Cardano Improvement Proposals, or CIPs, have been drafted or expected to go live this year.
Focus on Decentralization
He stressed the importance of decentralization to the blockchain universe. He covered an array of issues, from $10.5 billion being stolen from DeFi, the problem with Bitcoin maxis, and the ongoing problem with the legacy system, Governments not wanting to help blockchain because they’re going to lose money.
Conclusion
Cardano has a lot of irons in the fire, and its current price point is not at all an accurate representation of what’s going on behind the curtain. Understand, this…
