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DeFi Update - The Future Of The Platform

Apr. 04, 2021 2:28 PM ETCardano USD (ADA-USD)BTC-USD, GBTC, ETH-USD30 Comments
Florian Grummes profile picture
Florian Grummes


  • Cardano is one of the rising stars among the altcoins that has shown promise and could take a slice of tomorrow’s financial market cake.
  • Cardano could disrupt financial services in the developing world.
  • But Cardano will have to create a better incentive structure for developers to use it over Ethereum.
  • Overall, the outlook for Cardano remains bullish.

Cardano (ADA-USD) is up more than six-fold since December and up nearly 9,000% from its March 2020 lows at US$0.016 to the recent top at US$1.54. Hence, after such a spectacular performance can this rally continue? Is Cardano on its way to become a major cryptocurrency contender or was this just a fad?

Without a doubt, Cardano is one of the rising stars among the altcoins that has shown promise and could take a slice of tomorrow’s financial market cake. While it would take years for the cryptocurrency to catch onto ETH in terms of its developer ecosystem and usage, the groundwork is there.

Together with Ethereum (ETH-USD), Cardano could disrupt financial services in the developing world. However, bearing in mind that it took a decade for ‘smart money’ to embrace bitcoin, it would be a while before consequential institutional inflows propelled the cryptocurrency to a new paradigm.

What is Cardano?

Cardano is a decentralised public proof-of-stake blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. Cardano says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair.

Cardano was founded back in 2017, and the ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software. E.g., Cardano is used by agricultural companies to track fresh produce from

This article was written by

Florian Grummes profile picture
Florian Grummes is an independent financial analyst, advisor, consultant, trader & investor as well as an international speaker with more than 25 years of experience in financial markets. Via Midas Touch Consulting he is publishing weekly gold, silver, bitcoin & cryptocurrency analysis for his numerous international readers. Florian is well known for combining technical, fundamental and sentiment analysis into one often accurate conclusion about the markets. www.midastouch-consulting.com

Analyst’s Disclosure: I am/we are long ADA-USD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (30)

Just bought ADA today on Coinbase !!
Article would be a lot better if you mentioned Cardano competitors like Polkadot, Avalanche, Solana etc. All of them have working products and thriving dApp community. The big risk of ADA is becoming vapourware in face of onslaught of competitors with thriving dApp ecosystem
jimbo162 profile picture
@Henley JJ or maybe THETA, best of the bunch.
SlowHandLuke profile picture
In Vitalik We Trust. Long ETH.
theWayissimple1111 profile picture
Buy and hold Ethereum.
GameBuzz profile picture
Thanks for the info and write up.
Question: When you say, “former CEO of Ethereum,” could you clarify for the uninitiated? Is there an Etherium company, corporation or co-op that is separate from the actual coin? If so, are all coins structured that way? And if the coins are open source and run by global consensus, what are the corporations’ role?

Thanks for your time...and for the term “Darth Maul candles,” a new one for the arsenal! 😁
05 Apr. 2021
Cardano is an awesome project as a software developer I admire how fast they are delivering with such amazing quality.
I have no doubt they will create a new era of opportunites to the Crypto space.
Not to mention at last we'll have energy efficient crypto !
Long ADA geat article
Kind of wild to promote the "smart contract" platform that doesn't have smart contracts yet when there's a handful of other Ethchain competitors that already have built chains to specs.
Gordbuffett profile picture
ADA not only has no workable product, there’s no smart contracts or dApps. It’s truly amazing what hype can do. There are many projects better, namely ALGO. I would list all the reasons but all it takes is 10 minutes of research to understand. It’s Far and away the better protocol and has already racked up significant partnerships with many more coming. ALGO is the future of DeFi.
jimbo162 profile picture
Good read Florian. I hold a large stack of ADA too but i have concerns. The original ADA whitepaper described a much more ambitious project, many felt it was not obtainable...apparently it wasn't. Now it is a POS smart contract platform. To my knowledge it has never delivered anything, yet has climbed into the top 5-6 coins on the market...will they deliver a product? Will it even work as it says? I have started to ask more questions than ever, the CEO discussing his visions above are just more of the same....his vision. We need to see it actually deliver on some of it's promises.
@jimbo162 Thats crypto for you. Crypto is not about delivery. It's about grand visions. The bigger and more ridiculous the vision is the higher the price goes. Under the hood Bitcoin is a very rigid and inefficient technology which is hard to improve and scale and consumes a lot of energy for not much use however the twitter evangelist compare it to the second coming of Christ so there you go which is why the price goes up.
William.DS profile picture
@jimbo162 I'm uncertain of what you mean when you state that the project has diverted from it's original white paper...from my research it has done nothing of the sort. It's taking rather long to roll things out, I definitely agree if that's what you mean. I also think though that IOHK's transparency doesn't help because people get so wrapped up in dialogue that they really miss how long these steps actually take to fully execute.

However, there doesn't seem to be any diversion from the original white paper at all...I actually think it's pretty crazy how true to the white paper this project has been thus far. I think most people thought the Africa ambitions were simply fluff but it seems their continual news roll outs pertaining to those ventures are contrary to that view. As well as the ambition to include existing financial infrastructures; that seemed to be a sort of fracturing from typical cryptocurrency fundamentalism & seems extremely difficult. But with their unique features integrated into goguen...I think it's pretty clear that they're taking that ambition somewhat seriously as well (as far as I can tell)

I'm sure that since you hold it, you stay up to date on their past executions (Shelley etc.) and the projected timeline....so just keep your eye on July/August this year!
jimbo162 profile picture
@WilliamDS369 it's just an opinion i tell it like i see it
Retire in 10 to 15 profile picture
What's the best platform to buy this off of? Coinbase or Kucoin? I have Blockfi, but not sure it's offered?
optomos profile picture
@BigD69 Coinbase Pro for lower fees.
Retire in 10 to 15 profile picture
@optomos What's Pro mean? It seems they would charge?
optomos profile picture
@BigD69 It's more for professional traders. It reminds you more of a trading platform. Check it out
D=0, Goguen and Alonzo, consumers and developers alike are looking forward to alternatives to excessive gas fees. Ada Lovelace is smiling.
No smart contracts
No dApps
Kochie OneTime profile picture
This one could be big big. Really like Hoskinson (several fantastic interviews) and the way they went about building Cardano. Watching Ethiopia closely. Thanks for the write up!
gnewmie23 profile picture
I have ADA, ALGO, LINK and of course BTC
optomos profile picture
Thanks. I also like Algorand.

Dont like the tokenomics. Like the tech
@Florian Grummes ,
"The video below will convince even the most critical value investor that this coin is here to stay."

I think you forgot to include the video link
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