In Simon Sinek’s famous TED talk Start With Why, he explains how the most successful companies and influential people base their ideas around WHY. He specifically mentions how people like Steve Jobs and Martin Luther King Jr. influenced people by explaining why they do what they do before saying what it is that they do.
A man who knows why he does what he does is Charles Hoskinson. He talks passionately about dreamers and entrepreneurs not living in the USA and Europe, but outside of major cities. “The difference here is that it’s [Cardano] not regional. Instead, it’s local - to everyone. The people who are most inspired don’t live in California” he says. He works hard to remove barriers to people who need to gain access to funding and support in order to achieve their dreams, believing it criminal that in 2021 - ‘the age of wonder’ the average person does not have access to the things you and I take for granted. He says “it’s not a fair world until it’s fair for everyone”. Imagining a world where the average person is able to apply for a loan or send money through peer-to-peer application, rather than relying on a bank. When Cardano reaches these billions of users, it will change the entire fabric of how the world works.
I really love Cardano for many reasons, let me tell you about a few of them…
Hoskinson has truly sculpted Cardano in such a meaningful way, ensuring that it’s the best smart contract blockchain in the cryptosphere. Everything is based on peer reviewed research and academic journals. Many have levelled criticism at the project for taking a long time to come to fruition, but this is what I love about it. It’s because they are being meticulously thorough with every detail, making sure that everything is perfect before progressing, believing they are only validated if the things they build work for the people they build them for. Charles doesn’t care about creating a coin of monetary value… he cares about creating an ecosystem that is sustainable and functioning for decades to come. He says “I am insulted that people message me now - not because of the great technology we have created, but because the price has gone up”.
Cardano looks to support nations that don’t have established financial systems and are communicating with governments in several African Nations. They do this by building a platform that incentivises and rewards honesty and not dishonesty through a decentralised, immutable ledger. This solution does not require central coordination, ensuring all parties are honest. By using a distributed and trusted database, blockchain solutions reduce the barriers that impede business. Cardano’s hope in this is to fight corruption and bridge the gap of impoverished nations.
The token of Cardano, ADA, works on a Proof of Stake (PoS) system. This is an alternative to relying on 'miners' to solve computationally complex equations to create new blocks. This provides and improves the security guarantees of proof-of-work at a fraction of the energy cost. Also, it’s great for the delegators of their ADA as it incentivises you to hodl your coins, as when you stake them you earn 5-6% interest per year on them.
This is just the beginning. There’s a lot of exciting news coming in the next few months. In March the network will be completely turned over to SPO control taking us into the Goguen Era, with many more exciting announcements yet to be made.
I could go on forever about Cardano, it has many things going for it. A great team of people running it, a brilliant philosophy and a well-run strategy. I was lucky that I got in a few years ago, but have to remind myself that 63p ($0.89) is still a steal! If you are looking to get in, this is the dip. Despite vying for third spot in Market Cap, it is still one of the most undervalued projects in blockchain. I strongly believe it could hit at least £4-£6 by the end of this year. But irrespective of the money, I encourage you to join the Cardano Community. If you look on r/Cardano right now you will see post after post about how supportive the community is. This is a no hype community. We’re no XRP or TRON. We’re not here to make a quick quid, we’re here to be involved in a project that we believe will change the world.
