Blockchains are a crazy space for someone new to come into. This website was created to help anyone new wanting to discover why Cardano is a blockchain they should know all about. Starting out at a point of assuming no knowledge of what Cardano or even blockchain is, we debunk some of the myths about “all” blockchains, explain why Cardano is different and then delve into why it’s a blockchain you will really want to know all about.&nbsp;Many people have heard terrible things about blockchains and as a result, have assumed anything to do with them is bad. Those of us on the inside of the Cardano community know that these things only apply to “some” blockchains. However, communicating that to the general public who’ve been force-fed the bad side of blockchain by the media is a challenge. This is due in a large part to the highly technical nature of blockchain.&nbsp;The Simple Cardano website was created to take on this challenge and to try and find a way to show many of the brilliant things about the good blockchains and in particular Cardano, that are coming and that will change many people's lives for the better

thumbnail_simplecardano-header.png

simplecardano-header.png

thumbnail_1500x500.png

1500x500.png

large_LZhsRNBw.png

medium_LZhsRNBw.png

small_LZhsRNBw.png

thumbnail_LZhsRNBw.png

LZhsRNBw.png

thumbnail_ygYLFpCG_400x400.jpeg

ygYLFpCG_400x400.jpeg

Simple Cardano

<ul><li>Cardano has been a member of the top 10 by market cap for most of its existence</li><li>ADA is down 86% from its all-time high, the second-biggest decliner among the top 10 next to DOGE</li></ul>Cardano, the so-called “third-generation blockchain,” has been a first-class loser when it comes to price this far into the 2022 bear market.The perennial top-10 crypto, which briefly reached as high as <a href="https://youtu.be/UnD538r2Q04?t=519">the number 3 spot</a> behind ether and bitcoin for a few months in 2021, has fallen about 86% from its <a href="https://blockworks.co/tag/cardano/">September 2021 peak</a> of just over $3 per coin.The chain’s total value locked (TVL) has similarly slid 77% from a March 2022 peak, <a href="https://defillama.com/chains">according to DefiLlama</a> — and now stands at roughly $76 million, good for the 27th by that metric.Among the project’s <a href="https://forum.cardano.org/t/cardano-community-digest-3-october-2022/108503">latest highlights</a>: an effort to <a href="https://cardanofoundation.org/en/news/cardano-foundation-partners-with-georgian-national-wine-agency/">authenticate wine</a> from the nation of Georgia, and “crypto-backed algorithmic stablecoin that acts as an autonomous bank,” dubbed Djed — a tough sell in <a href="https://blockworks.co/playing-the-were-not-terra-stablecoin-game/">a post-Terra environment</a>.Its decentralized applications (dapps) have also struggled to compete with other layer-1s. The so-called Plutus smart contracts underlying dapps are unique to Cardano and written in a <a href="https://survey.stackoverflow.co/2022/#section-most-loved-dreaded-and-wanted-programming-scripting-and-markup-languages">relatively uncommon</a> coding language, Haskell. That means dapps cannot be easily ported over from Ethereum, the way they can be deployed to an Ethereum virtual machine (EVM)-compatible layer-1 blockchain.Cardano has taken steps to attract developers and has ranked well in developer activity metrics, <a href="https://twitter.com/santimentfeed/status/1549490695575990275/photo/1">according to</a> analytics firm Santiment. But a year on from <a href="https://blockworks.co/cardano-ada-token-price-rises-as-hard-fork-hits-testnet/">the Alonzo hard fork</a>, which first added smart contract functionality, its largest DeFi decentralized exchange, <a href="http://minswap.org/">Minswap</a>, is recording less than $1 million in volume on a typical day.<h3>From Byron to Voltaire</h3>The ethos of Cardano has been slow, meticulous progress along a roadmap of five eras named for famous writers: Byron, Shelley, Goguen, Basho and Voltaire.Now, in the Basho era, the most recent upgrade, Vasil, was, in terms of complexity, on par with the Ethereum Merge, <a href="https://youtu.be/a7UChd4nrg8?t=173">according to</a> Cardano founder Charles Hoskinson.The upgrade brings with it a version 2 of Plutus, <a href="https://www.reddit.com/r/cardano/comments/x8b92u/we_can_handle_more_than_9_tps_at_the_moment/">expected to increase</a> dapps’ throughput from about 1.5 transactions per second (TPS) to as much as nine. That may not sound like a lot compared to <a href="https://ethtps.info/">Ethereum layer-2s</a> or <a href="https://explorer.solana.com/">Solana</a>, but proponents point out that comparing Cardano’s Unspent Transaction Output <a href="https://docs.cardano.org/learn/eutxo-explainer">(UTXO)-based model</a> to an account model <a href="https://ethereum.org/en/developers/docs/accounts/">such as Ethereum’s</a> is not exactly apples to apples.Even so, according to Starbloom Ventures’ Evan van Ness, the bulk of Cardano’s transaction activity is simple cardano (ADA) transfers, <a href="https://twitter.com/evan_van_ness/status/1575523269662298114">not smart contract activity</a>.Like the <a href="https://blockworks.co/tag/ethereum-Merge/">historic Ethereum switch</a> to proof-of-stake, Vasil provided no immediate boost to the ADA price.Both its price and its market cap remain stuck in the Byron era, finding support at around $0.42, since the May crypto market crash, but setting progressively lower highs.<img src="https://lh6.googleusercontent.com/8MkLpX7E5lUcIVISXLydh0KouO0UG4dmx6apb-IySCqQoeDZxfvvXUqY7gU3MQ1HiWeUP4zO6-ciQ4WHUpIHGdbAZOET33UgYCRlcpxzy84NQYCmKUyfEfvADbdrTTYJVIyAGf7x6qem_93Om-fX6JiWnwii2AMlHbeeaxxIK1h8B6btrimYlcAmMA" alt="">It’s not clear whether Basho’s focus on scaling will be enough of a catalyst to turn that around.Cardano’s original roadmap is set to come to a close in 2023, Hoskinson said, <a href="https://youtu.be/a7UChd4nrg8?t=376">calling it</a> “the strongest, most resilient self-governing organism ever conceived, with a population in the millions and much utility for all.”Added Hoskinson: “There are many challenges to come; there’s many upgrades to do.”<a href="https://blockworks.co/author/macauleypeterson/">Macauley Peterson</a>Macauley was an editor and content creator in the professional chess world for 14 years, prior to joining Blockworks. At Bucerius Law School (Master in Law and Business, 2020) he researched stablecoins, decentralized finance and central bank digital currencies. He also holds an MA in Film Studies; film credits include Associate Producer of the 2016 Netflix feature documentary, “Magnus” about World Chess Champion Magnus Carlsen. He is based in Germany.Source: https://blockworks.co/cardano-price-plunges-to-2017-levels-following-cryptos-5th-birthday/

BitcoinEthereumNews

Cardano Price Plunges to 2017 Levels Following Crypto’s 5th Birthday

Simple Cardano ($)

Cardano is a blockchain. It’s the most significant competitor to the Ethereum blockchain and ultimately Bitcoin. Here we explain what Cardano is and what blockchain is, simply.

Related Projects

TADATek

Blockchain Revolutionaries

Flickto

Featured News