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Cardano aka Ethereum killer is celebrating its 4th anniversary as the mainnet of successful Blockchain went live on September 29, 2017. Charles Hoskinson was the man who started working on such a great project after bitter falling out with the rest of Ethereum co-founders.
Ethereum killer has turned 4:
The fourth-largest cryptocurrency by trading volume, Cardano, has turned 4. These four years have been very difficult for Cardano but it has struggled and made its way through the crypto market. On this day in the year 2017, Charles Hoskinson tweeted:
Cardano has Launched
The three independent entities IOHK, Cardano Foundation, and Emurgo managed to raise $62 million by January 2017 in a crowd sale for the Blockchain. American citizens were not part of the initial coin offering (ICO) due to securities laws. The craze of ICO helped the coin to make a peak of $1.10.
Ethereum killer was one of the worst-performing coins in the bear market which came after the bubble burst. ADA was almost 98% down as of December 2018. ADA has struggled through the market a lot and finally managed to make it to a new all-time high of $3.02 in the last month.
source: CoinMarketCap
The recent new all-time high of ADA was achieved due to two main reasons. The first one is the launch of native assets in March 2021 and the second one is the launch of Smart contracts in September. Ethereum killer is doing great but it still needs a lot of work to be done to compete with the remaining crypto market.
With a total of 27 Plutus smart contract scripts deployed, Cardano’s DeFi space has to do a lot for the adoption in decentralized finance. The concurrency controversy has also exposed Cardano’s scaling issues so developers must pay attention to it.
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