These past few crazy days in the crypto market should be times when all investors need to just look away for a bit. We are going to have those along the way as blockchain technology evolves, but I firmly believe that those invested in the right projects will be rewarded handsomely with some patience.
My goal along the way is just to give my own opinions based on all my reading and research. So take it with a grain of salt. I will say that I have been in the crypto space for awhile now mining Bitcoin since 2018. Great intro into the crypto universe, but there is so much more that I plan on sharing along the way.
One of my top altcoins by far is Cardano (ADA) which is the project spearheaded by Charles Hoskinson, CEO of IOHK and one of the co-creators of Ethereum. Let’s say creative differences led to the founders parting in their separate directions. For me, Cardano epitomizes how the world can be improved with blockchain technology.
In my mind, Cardano has so much potential that is being realized today. 2 things come to mind in particular. I urge everyone to read about the Cardano Africa project. To the young citizens of certain depressingly poor and corrupt nations, Cardano offers a path to meaningfully improve their lives. Their most recently publicized use is essentially digitizing student records so that these records can travel with a person and proves “I am who I say I am”. This is so critical because there are so many fake transcripts going around that legitimate applicants to a school, for example, will be turned down because suspicion surrounds their records. Cardano changes all that. No longer does an individual need to rely on what his country’s government is doing OR not doing since the records are immutable. The records can be validated as being authentic through use of the blockchain technology. In the United States, we take this for granted. This is a life changer for poor kids trying to improve their lives.
The second thing is just around the corner for Cardano in the form of the Alonzo fork. Once implemented, smart contracts will be enabled thereby making Cardano essentially an environmentally friendlier platform than Ethereum. I don’t want to debate the merits of both platforms here, but I think we can all agree that the upside potential is huge. Plus, so easy to stake ADA!
Anyhoo, I will have plenty more to share along the way, but I did want to introduce folks to my way of thinking on projects such as Cardano.
As always, happy to help and feel free to reach out on LinkedIn or at my old school email, michaeljcarlson@aol.com.
Have a great holiday weekend, remember the sacrifices, and hug your loved ones. Always remember to live your best lives.
I've been looking at CARDANO and you've helped to enlighten me more about it. So, I will likely be acquiring and hodling them. Thank you!