- After multiple and lengthy delays, Cardano plans to deliver Shelley on July 29.
- Shelley alone is not going to fix all of Cardano’s issues.
- The upcoming staking rewards are subpar compared to some DeFi lending, so it’s not a sustainable advantage for Cardano in the long term.
- Cardano’s ecosystem is tiny compared to the competition, and its growth is hindered by the absence of smart-contracts.
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Like its competitors, Cardano has been active with updates in 2020. However, they may not be enough to stop the project from falling behind. Hence, ADA holders may experience another disappointment once the hype dies off.
Layer 1 Platforms Are Waking Up
The IEO craze of 2019 brought exchanges into the crypto spotlight. The reputation of a particular exchange meant more than the technological features of projects it promoted. A Binance-hosted IEO, for instance, would perform merely due to the platform’s clout.
In 2020, technology has recaptured headlines.
The blockchain space is still young and compared to traditional equities relatively small.
As a result, no platform has gained sufficient network effects to build a moat yet. But another battle between Layer 1 solutions is brewing. With a pipeline chock full of updates, Cardano is set to join the frontlines of the platform wars.
The Cardano Approach
Cardano is frequently criticized for its slow progress. The team’s primary point of defense is that they choose to build a platform that’s reliable and secure from the start instead of “going fast and breaking things.”
The platform’s full decentralization phase, Shelley, adding more than a year to the Cardano roadmap. However, the team has been in touch with the community, assuring that the necessary work on it was being done. Now, the…