Cardano is a proof-of-stake (PoS) smart contract blockchain platform invented by Ethereum co-founder Charles Hoskinson to solve the problems of the Ethereum network and other early blockchain networks. The blockchain seeks to improve security, decentralization, latency, and throughput, common issues in other blockchains. However, Cardano has a big flaw that no one is talking about, and investors will likely turn to new ICOs like Avorak AI.
How Does Cardano Work?
Similar to Ethereum, the main uses of Cardano (ADA) are staking, delegating, and transacting on the Cardano ecosystem. The ecosystem can also sustain no-fungible tokens like Ethereum.
Those who stake ADA on the network receive a claim on future inflated ADA, depending on their deposit size. Cardano is a unique project in that it was founded on “peer-reviewed research” and “developed through evidence-based methods. Cardano was also one of the first blockchains to commit to the Proof-of-Stake (PoS) consensus mechanism when everyone else was looking at Bitcoin’s Proof of Work (PoW).
However, Cardano is considered an unfinished network and more of a research project with no real-world utility to compete with other blockchains like Ethereum. Cardano’s slow development puts it at risk of investors abandoning it for other ICOs.
Cardano (ADA) Price Prediction
Cardano’s (ADA) price is on its way to recovery, but the momentum seems to be slowly fading due to low weekend trading volume. Cardano’s price crashed by 44% in early June, showing signs of slightly bearish sentiment in the market. However, experts predict a bullish trend for ADA as the developers promise architectural solutions, including a multi-layered network, a community-governed treasury, increased technological upgrades, and a hierarchical deterministic (HD) wallet.
Avorak AI, a New Innovative Crypto Project
Avorak AI is the first AI-powered platform that seeks to revolutionize the crypto industry by integrating artificial intelligence. The project offers users tools to simplify trading and other activities like image and text generation. Avorak Trade is the project’s most popular feature, as it uses machine learning to analyze market data and generate price predictions for cryptocurrencies, including Ethereum (ETH), Bitcoin (BTC), and Cardano (ADA).
Avorak Trade uses AI to analyze past market data, develop profitable trading strategies, and automate them on behalf of users. The tools also study market behaviors and alert users in case of changes in market trends or patterns.
Users can access Avorak tools by purchasing AVRK, the project’s native token. Avorak is currently in phase 8 of its ICO, and users who buy AVRK tokens at this stage are eligible for a 3% bonus. The current price of AVRK token is $0.27.
Conclusion
Cardano’s biggest flaw is that the network is still under development, including major features such as scalability. Despite the network’s steady progression, Cardano lacks a competitive edge over other blockchains, such as Ethereum, which are constantly developing and have more use. The network’s stagnant growth is a turn-off for investors interested in new and innovative projects like Avorak AI. Avorak is already making a name for itself in the crypto industry, despite still being in its early stages.
Learn more about Avorak AI on:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
