Over the past year, the ADA has strengthened by more than 1,400 percent. It thus overcame the return of bitcoin and ether. The virtual currency grew despite skepticism about its usefulness among some prominent cryptocurrency commentators.
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Most people outside the cryptocurrencies have never heard of cardan, and yet there is a market capitalization that exceeds many companies in the S&P 500 index, said Antoni Trenchev, a partner and co-founder of the Nexo crypto-credit company.
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The Cardano platform has set itself the goal of enabling the conclusion of smart contracts by 12 September. This means that it will offer lucrative services, such as DeFi, which is currently dominated by ethereum. DeFi, or decentralized financing, is an experimental form of financing that does not rely on traditional centralized financing intermediaries such as banks, brokerage firms or stock exchanges. Instead, it uses smart contracts in digital books.
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