Earlier in the week, Charles Hoskinson, the head of the IOHK, did an AMA with the community and was asked of all sorts of interesting questions. One question that stood out was with regards to Cardano scalability, and Cardano’s capability to handle crypto kitties.
To this, Charles went to great lengths to explain the topic of scalabiity and how it affects Cardano. He stated that Cardano as it stands, can do between 50 and 250 TPS. While it may not look that huge, it means that Cardano has a TPS that is over 30 times higher than that of Bitcoin as well as Ethereum. This means that Cardano can handle a significant load without congesting the network.
However, this doesn’t mean that Cardano won’t be able to deliver the extreme TPS numbers that Cardano and crypto investors in general are always looking for. Afterall, it is what it will take for cryptocurrencies to effectively compete with centralized systems in the future. That’s why as per Charles’s remarks in the AMA, the IOHK team is working aggressively towards developing sidechains and parallel chains for Cardano (ADA). All these will converge into Ouroboros Hydra.
With Ouroboros Hydra, Cardano will be in a position to handle upwards of 5k transactions per second, and compete effectively with the scaling capabilities of systems like Visa. With such capabilities, Cardano (ADA) would easily be one of the best systems ever built, and for good reason. It would combine high level efficiency with security and decentalization. This would see Cardano (ADA) become the platform that anchors a decentralized financial system, which the direction that the world is heading to.
With such plans in the works, there is no doubt that Cardano (ADA) is a worthwhile investment for the long run. That’s because, with the upcoming Shelley release, Cardano will be able to handle all sorts of applications, which most blockchains cannot handle. Already Cardano is gaining adoption in the developing world.
For instance, Cardano has rolled out blockchain training in Ethiopia and Uganda, a program that has the full support of the governments of these countries. This goes to show that Cardano (ADA) has a huge opportunity to be the leader in blockchain adoption in these countries. Given the huge gap that exists in the financial markets in the developing world, Cardano taking a lead in transforming the lives or ordinary people in rhe developing world.
With such strong fundamentals, Cardano (ADA) has what it takes to grow significantly in coming years. Blockchain technology is growing and blockchain platforms that have real utility will experience exponential growth in the future. With such prospects, Charles Hoskinson’s assertion that they are building a trilion dollar crypto could easily come true. Not many cryptos can match Cardano capabilities, and as it becomes the dominant Dapps crypto in the future, then Cardano (ADA) hitting such a valuation would not be a far-fetched dream. In the short-term, it is still the crypto to watch due to the upcoming Shelley release.