Can ADA Become the Ethereum-Killer?
Earlier today Charles Hoskinson, the developer of Cardano (ADA) and co-founder of Ethereum (ETH) announced the launch of a $20 million technology for blockchain platforms. This was done in partnership with Wave Financial Group and the fund's purpose is to support the adoption of blockchain platforms including Cardano.
@IOHK_Charles announced the launch of a $20million technology ecosystem fund - in partnership with Wave Financial Group - the first venture fund to support the adoption of @InputOutputHK blockchain platforms, including Cardano. #cardano2020â IOHK Media (@IOHKMedia) July 2, 2020
The launch of the blockchain development fund could greatly assist Cardano's dApp ecosystem in the future. It could also be used to draw in partnerships, interesting collaborations and while unlikely, acquisitions.
Regardless this is a good sign of things to come for Cardano.
Ada & the Markets
Cardano (ADA) has managed to increase its value by 226% in the past 90 days. Its price increased from 0.03187059 on the 3rd of April and is currently trading at $0.094216.
During this time, it managed to dramatically climb the cryptocurrency rankings and break into the top 10 cryptocurrencies by market cap. It is ranked #6 on CoinGecko, just below Bitcoin Cash (BCH) and #9 on Coinmarketcap under Binance Coin (BNB).
Cardano.org & Mainnet Excitement
Yesterday the new and improved Cardano website went live. The new website offers a sleek new design and the official Cardano Twitter additionally teased the roll-out of smart contracts later this year.
Most people seem to be gearing up towards the launch of
Cardano's mainnet, which is due to launch by late July. Should ADA's mainnet
launch be smooth and its functionalities be everything promised, it could be a
viable competitor to Ethereum. Seeing that it already outranked nearly all
other "ethereum killers",
convincing dApps to switch over should be next on Cardano's priorities to
cement its position.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado