Under current market conditions where coins are barely moving in price, it is easy to lose sight of the bigger picture. In most crypto communities, there is a sense of despair considering that the expectation was for a bull rally by the end of the year. However, from a pure fundamentals perspective, this is the perfect time to stock up on good projects.
But what constitutes a fundamentally strong project in crypto? This is a tough question considering that this is a new asset class, and is yet to be adopted at scale to have clearly defined market-based fundamentals. Well, under these circumstances, the best bet for an investor looking to invest based on fundamentals would be to focus on the team. Questions like is the team competent enough, is it transparent, should take center stage when analyzing the long-term prospects of the team. Using team strength as a key to determining project potential, Cardano would rank as one of the best projects in crypto. Here are a few reasons why Cardano (ADA) has one of the best teams in crypto space.
They are technically strong and competent
Cardano (ADA) has a development contract with the IOHK, which is probably one of the most knowledgeable teams in cryptocurrency matters. A person like Charles Hoskinson was an early player in Bitcoin (BTC) and was part of Ethereum in its early days before he left.
Charles is so well versed on cryptocurrency matters that even on his AMAs, he can easily break down complex concepts for investors to understand them better. He is also quite good at management and has been pushing Cardano in different countries especially in Africa and Asia. A person like Duncan Coutts, who is the chief engineer at IOHK is also extremely talented when it comes to matters to do with cryptocurrencies and software engineering. With such a strong team, there is a good chance that Cardano will only get better with time.
They are very transparent in their moves
The IOHK team is very transparent about Cardano’s developments. For instance, this week the IOHK team has been getting training about functional correctness in Haskell programming. According to Duncan, this training is aimed at bridging the gap between software developers, cryptographers, and researchers. The team has also recently explained that Shelley will be released in Q1 of 2019, and gave a breakdown of the progress they have made so far. The Cardano roadmap is also constantly updated with the latest progress, and setups clearly spelled out. This transparency will play a huge role in pushing up the adoption of Cardano in the long-run and drive up its value.
With such a strong a team, Cardano (ADA)’s long-term prospects are looking good. It means that the technical aspects of Cardano are taken care of. This places it in a good position for adoption going as cryptocurrencies gain market adoption. Widespread adoption backed by strong fundamentals could push the value of Cardano rise to new highs. Charles Hokinson’s goal of turning Cardano into a trillion dollar could come true.