The IOHK team has started the year on a high note in the quest to make Cardano a success. Yesterday, Charles Hoskinson, the IOHK CEO, tweeted that he was on his way to Berlin for an internal workshop. The workshop is about finalizing the designs of Cardano’s delegation mechanics, in preparation for the Shelley release. Today he has tweeted again that this workshop is going on very well. This can be interpreted to mean that Shelley is on track, and that it will happen within this quarter.
Thousands of miles away in Uganda, things are going quite well too. Lar’s Brunjes, the IOHK director of education is there on an educational program for Ugandan students. This educational program has been successful so far. That’s because it is also receiving support from the governments of Uganda and Ethiopia. Testament to this is the fact that the 4 students in this program met with Uganda’s ambassador to Ethiopia, and he had kind words for them, asking them to represent Uganda and Ethiopia well in the blockchain ecosystem. This is a positive step towards awareness and the entrenchment of Cardano in the developing world.
For Cardano (ADA) investors, all these are positive steps towards a higher intrinsic value for Cardano, and better prospects for growth in the long run. Starting with the progress towards Shelley, the release of Shelley will put Cardano on the path towards complete decentralization. Investors will be in a position to stake ADA, and earn a passive income, while participating in the governance of Cardano. The incentive of staking ADA could drive up demand for Cardano going into Q2, and by extension, drive up prices. This makes the current efforts by the IOHK team to get everything right before Shelley release, a huge bullish signal for investors.
The positive reception that Cardano is receiving in the developing world, in places like Uganda and Ethiopia is also a positive step towards its long-term success. That’s because, at its core, Cardano (ADA) is all about changing the fortunes of people in the developing world. These are people who are disconnected from the legacy banking system, and have no way of reaping its full benefits. Cardano presents an opportunity for these societies to make the most of blockchain and build financial solutions that work best for their needs on the Cardano blockchain. Given the massive gap that exists in finance in the developing world, Cardano’s demand could be huge, and that’s great for ADA’s value.
All these are solid reasons to be bullish on Cardano blockchain. Besides, Cardano has many other strengths that give it an edge in the platform blockchains space. For instance, Quantum resistance is a strength that makes Cardano very safe long-term. That’s because, once quantum computers become a reality (they are very close), blockchain will be vulnerable. At that point, Quantum resistance will be a major selling point for Cardano and other quantum resistant blockchains.
This is one altcoin whose chances of long-term success are way above average. If bulls return, it has a realistic prospect of retesting its all-time highs and some more.