- Cardano (ADA-USD) made a move with Davinci’s Locker non-fungible token (NFT) market.
- Improving transaction throughput speeds gives ADA tailwinds as summer approaches.
- Research partnerships should lead to Cardano’s development.
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Cardano (ADA-USD) has increased in final price. That is certainly an encouraging sign in the changing world of cryptocurrency. There are several reasons to believe it will be higher in the long run as well. These reasons include the growing NFT market, increasing transaction throughput speeds and research partnerships that could lead to positive developments for Cardano.
Loker Da Vinci
Cardano now has a variety of ways to benefit from non-fungible tokens (NFT). It was launched Loker Da Vinci, a market that will support the trading of NFTs through multiple blockchains. The platform is designed to be an OpenSea competitor.
Currently, they are undergoing a private sale, which began on April 5 with an initial coin offering (ICO). The reason this should attract the interest of investors is to be able to raise the price during the ICO. To participate in the ICO, investors must first purchase an ADA.
A single ADA token now entitles investors $ 1,126 DVL. If interest rises before the ICO, which is scheduled in a few weeks, $ DVL will appreciate the price. ADA should go up as well if that happens.
One of the more interesting selling points is that users can sell NFT in the market without intermediaries, thus earning 100% profits. In short, the NFT angle can develop into something substantially advanced.
Transaction Speed With Cardano
Cardano is focused on increasing transaction throughput due to increased user activity after the introduction of smart contracts. IOHK, the company behind Cardano, expects the increase in activity to continue. As a result, transaction throughput should be increased.
Cardano has increase the block size from 72 kilobytes (KB) to 80 KB this year. An increase of 11% may not be enough, and the company has plans to increase throughput even more. However, it is not possible to just increase the size of an infinite block. If so, the security of the system will be compromised.
IOHK plans to address this in the coming months with diffusion pipelining and asynchronous validation. This is a highly technical concept and possible details meet here. The overall thrust of the news is that Cardano plans to accommodate the increased throughput and increased transaction speeds that will result in the next few months.
That’s positive for Cardano as it tries to capture market share Ethereum (ETH-USD) and others. It’s a positive catalyst to make sure. It’s no secret that Cardano is finally trying to get rid of Ethereum.
Transaction rates per second (TPS) will continue to be important in these discussions. Ethereum became a TPS over the past year has distance between 11 and 16. That’s part of the reason gas costs are so high.
Cardano is now in the process of estimating 250 transactions per second. The higher those numbers, the better Cardano’s prospects look forward to.
Blockchain Center Partnership
The University of Zurich Blockchain Center is another positive catalyst to Cardano. This is because the Cardano Foundation announced a partnership with the center to develop blockchain education and research initiatives.
The University of Zurich is a respected educational institution. Although the news is not an immediate catalyst, it does open up new possibilities. The partnership seeks to better understand the economic factors and incentives in the network – in other words, the factors that make the ADA more valuable.
Cardano has been very volatile over the past year. It almost reached $ 3 back in August. It has now risen to almost $ 1 after a long slump that brought it below $ 0.80.
For bullish investors in Cardano in the long run, now is a good time to make a position. It remains a solid project and seems to be able to implement the features that users want.
As of the date of publication, Alex Sirois does not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, according to InvestorPlace.com Publishing Guidelines.
