Sitting on Cash Watching Cardano (ADA) With Interest

ADA Whale shared: I know there are crypto funds out there sitting on cash, watching ADA with some interest. Some will avoid it as part of allegiance to their crypto tribe. Others know what’s up and are waiting for a good entry. Want to say a few words to the in-between group that isn’t sure.

Cardano stats to set the scene:

> TVL 1M +69%, 7d +21%

> Transactions 4x YoY (150k)

> NFT vol ~$1m/day > Block prod pools: 1,200

> Projects building: 517

> Reddit subs 694k (55% Eth, 350% Σ Sol + Avax + Terra)

> Self-funding last round, votes / projects funded: 257,000 / 269.

Why was Cardano “slow to market”? It wasn’t Many others are BFT (Tendermint etc) while in Cardano a novel Nakamoto consensus L1 PoS was coded from the ground up by cryptographers & academics There are security, decentralization, and scalability implications you should understand.

BFT is meant for small permissioned networks, can scale for throughput, less so with network size. NC is more robust, scales with network size We can obfuscate it but at some point, it will assert itself. Unlike most new protocols, Cardano can spread far and wide; a PoS Bitcoin.

There are implications for inclusive accountability too, without which crypto may as well not exist our standard wallet is a full node, the ledger is 10x smaller than peers (growing fast!) With Mithril we’ll have lightweight full nodes it matters to us, makes us feel ownership.

Scaling. Bottleneck but lots coming: – Isomorphic state channels w/ code execution (Hydra) – BFT side chains, security guarantees of L1 – zk rollups (Orbis) – Improvements in block propagation, DAG mechanisms most in the near term. June’s hard fork will scale us massively.

Cardano is real world focused > Decentralised Digital ID for KYC inclined > Self-funding, also real-world projects > Telecom (Dish, World Mobile) > Micropayments (Hydra) > Governance solutions (Ethiopia) > Dapp store, for your dad > Drag&drop SC Above & beyond other chains.

Others inevitably hit a centralization wall. Cardano has governance baked in, is sustainable A self-funded, -governed decentralized open-source system to manage identity, value, governance Think about the scope. Bigger than TPS-obsessed L1s (though we’ll compete on that soon).

Even if we focus on a narrow part of Cardano (Defi, where it competes with 1000 other chains) it has huge hidden strengths Haskell, eUTxO, off-scale computing, native assets Great mix that enables applications with crypto bonds (best chain for it IMO), complex derivatives, etc.

TVL: you haven’t seen anything yet. – Stable coins are coming soon via various venues – Ardana (3ac funded, central banker on the team) could be our Anchor. The liquid will be our Compound. Aada will be our AAVE you’re still super early, none of these have even launched yet!

Lastly, Cardano’s monetary policy and ADA hardness are second only to perhaps Bitcoin. Only thousands of people agreeing in governance could ever change it. Together with inclusive growth bc of self-funding, it’s the antidote to the full-on ponzinomics chains. Long-term growth.

Read this a few times and see how it matches w/ the caricature the hate-mongers have painted of Cardano. They were psyops Cardano is special, we know it and aren’t going anywhere would be great to have some of you along for the ride whenever the next bull market presents itself.

Also adding my December thread here for reference.

“If you’re new to crypto or invested in other coins, you might wonder: why Cardano? Influencers are mostly full of it when it comes to ADA. So let me *again* break down my views on it in evidence-based bite-sized pieces, and you can decide for yourself.”