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1. Founder
The first and most talked about factor of the Cardano project is its founder. This feature is the same as other public chain projects. Basically, the future of this public chain can be judged from the characteristics of the project founder. Charles Hoskinson, the founder of the Cardano project, is a very distinctive character. Like Gawin Wood, the founder of Polkadot, he is also one of the eight founders of Ethereum. But because Hoskinson was different from Vitalik in terms of vision and business strategy, he left the Ethereum Foundation after 8 months. He then founded the Cardano project.
Hoskinson is a person with ideals, sentiments, pursuit of equality, and love for human beings. He is building a fairer blockchain technology base through the Cardano project, so that people around the world can obtain more efficient financial infrastructure services on an equal basis. This vision of his can be clearly seen in his various speeches as well as his frequent social media presence. Under the guidance of his vision, the biggest feature of the Cardano project is its support for distributed computing. It can be said that among the various existing public chain projects, the Cardano project is the project that supports distributed computing best.
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2. Token Economics
In terms of Cardano's token economics, Cardano also strives to achieve the most equal distribution method. 80% of the Cardano token ADA that has been circulated in the market is in the hands of the community. The number of nodes providing staking pools is also numerous. The distribution of Cardano tokens also actually reflects Hoskinson's vision of pursuing equality.
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3. Development and Promotion Strategies
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4. Competition with Ethereum
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5. Prediction of Cardano’s prospects
5.1 The future as a public chain
First of all, as the bottom layer of a public chain, I think Cardano has very good prospects. Its design goal is to become a more distributed blockchain layer than Bitcoin. Its specific implementation also shows that it is realizing such a vision. Today, even though it has not been fully launched, it has nearly 1,800 nodes. So in terms of system stability and scalability, Cardano will be a very good choice. The means it provides for the migration of Ethereum assets to Cardano will also promote the migration of assets in the Ethereum ecosystem to the Cardano ecosystem.
In terms of the operation and promotion of the Cardano ecology, Cardano pays special attention to regions such as Africa where the development of financial infrastructure is relatively backward, and its business efforts are bearing fruit. In the near future, African countries will announce the adoption of Cardano as the underlying infrastructure, and 5 million users will establish digital identities in the Cardano ecosystem. Although the details of such cooperation have not been finally announced, it is clear that Cardano's achievements in Africa are affirmative. From the perspective of product market positioning, Cardano's market positioning is more conducive to its differentiated competition with other blockchain underlying ecosystems, such as Ethereum and the upcoming Diem ecosystem. Therefore, Cardano will have a place in various blockchain-based ecosystems in the future.
5.2 Market Cap of Cardano
Regarding the market cap of Cardano, I think the current market cap is clearly overvalued. This is because the bull market in cryptocurrencies this time is mainly driven by the market’s purchase of Bitcoin. In addition to Bitcoin, the user groups trading various other encrypted digital currencies have not changed substantially, and are still dominated by retail users. Therefore, for other encrypted digital currencies other than Bitcoin, the essence of this bull market is no different from the essence of the bull market at the end of 2017. So this bull market won't last. In addition, from the perspective of the progress of the Cardano project itself, its development stage is not enough to support such a high market value. The above logic also applies to other encrypted digital currencies. So in general, Cardano's market value is likely to continue to be among the top 5, but its absolute market value will not be so high.
