Summary
Cardano describes itself as being a third generation cryptocurrency. it was created by Charles Hoskinson, one of the co-founders of Ethereum Project.
Cardano is developing a platform which uses smart contract and seeks to have more advanced features than any other protocol previously. It is the first blockchain platform to evolve out of a academic driven approach. The team consists of a big global bundle of engineers and researchers.
Swot analysis of ADA
Strengths
- Brilliant team
- Absolute saftety
- Easy to use. One of key goals of the cryptocurrency is keeping the platform as simple as possible for both the users and developers.
- Governance by Token Holders. The governance of Cardano is based on blockchain meaning that the token holders get to decide on any modifications that may be proposed.
Weakness
- Still under development and has a lot to proof
- The Governance System is complex
Opportunity
- Cardano tries to solve the biggest problems in the crypto world, by having a efficient framework
- Has a promising scalable solution. As more users joins the platform the capabilities of the system increase
Threat
- Ethereum has first-mover advantage
- Minor chance that NEO can be negatively affected if China becomes anti-crypto
- The smart contracts platform market is seeing increasing competition