2021 continues to be the defining year for Cardano (ADA). In terms of market capitalization, Cardano rose to the top as the third-biggest blockchain-based platform. As more Cardano projects step into the light, investors are optimistic about the future growth of Cardano.
As a uniform ecosystem, Cardano continues to become more flexible, sustainable, and fast. The consistent growth of Cardano has made it possible for projects to be viable and achieve growth without issues. Interestingly, ADA doesn’t share some of the centralization problems that haunt ETH and BSC. And that’s because Cardano’s Haskell development language is uncommon in the crypto space. It is more accurate and robust, and that makes Cardano highly secure.
ADA is the native token of the Cardano blockchain that functions as a Proof-of-Stake or PoS mechanism. It means Cardano doesn’t need mining or supercomputers to validate its transactions. With the Proof-of-Stake blockchain, transactions obtain validation through ADA staking or holding. ADA has a maximum supply of 45 billion with 34 billion in circulation.
The Alonzo Update
Alonzo update became a massive driving for Cardano to evolve in the blockchain and crypto space. After the Alonzo update, developers can build and roll out smart contracts and dApps straight on the Cardano blockchain. The release of Alonzo may not have been smooth, but it has managed to set off Cardano in a new light.
Since the Alonzo update, there was a rollout of over 100 intelligent contracts within the first day. Cardano’s price already had a growth trajectory, and the Alonzo update has made it possible for the ADA to achieve more growth. Although Alonzo update didn’t follow with a smooth transition, it has opened up new opportunities for more projects.
Let’s review the top 5 cryptocurrency projects on the Cardano blockchain ecosystem:
When it comes to Cardano blockchain, Ardana is undeniably the best crypto-based project. The all-in-one crypto came into focus in April 2021 and continues to benefit from active development. You can utilize Ardana for trading, staking, and minting purposes.
With Ardana, you can mint even upcoming stablecoin projects through ADA staking. Since most of the supply of Cardano is staked, Ardana has had swift growth. Furthermore, in the quest to make Ardana more community-driven, holders have free reign to vote on upcoming updates and changes. In fact, with each transaction, holders get rewards with a dedicated protocol on Ardana.
Unlike most Cardano projects, Empowa had managed to build the most anticipation and excitement for its release. Empowa is different from other Cardano projects and sets out with long-term goals. The project wants to utilize decentralized finance (DeFi) to make affordable housing accessible in Africa.
Empowa has the potential to become a savior to 50 million homeless people in Africa. Since its release in April 2021, Empowa has become a radical project. It’s no wonder that the project received funding months before its final rollout.
With Empowa cryptocurrency, Cardano has become the first Real-Fi ecosystem on a global scale. The main objective of the Empowa project is to offer affordable housing options in different parts of Africa. Contributors of the project secure a part of the rental income from various properties using Empowa cryptocurrency.
Empowa (EMP) cryptocurrency is essentially a utility token that also works as an EMP ticker. In fact, Empowa wants to harness the power of cryptocurrency. Empowa intends to initiate the best housing and development plans for third-world countries through the decentralization of property developers.
As far as popularity goes, it is hard to beat the SundaeSwap project on the Cardano platform. In fact, long before the release, SundaeSwap had an innovative and active presence on social media. Like Uniswap, SundaeSwap also runs on AAM or Automated Market Maker mechanism.
The objective of SundaeSwap is to become one of the best-decentralized exchanges on Cardano. You can view SundaeSwap and Cardano through the lens of Uniswap and Ethereum. But unlike Uniswap, SundaeSwap offers a more robust front-end hosting solution than other DEXs.
Technically, the hosting of SundaeSwap is based on IPFS or an interplanetary file system that makes it completely decentralized. Sundae is the native token of SundaeSwap and has had its initial stake pool offering. Users now can get Sundae tokens by ADA staking and through staking pool.
The token distribution of SundaeSwap is transparent and secure. In fact, 55% of the supply goes to the public and the rest for the initial investors, team, advisors, and future hires.
RaySwap is a Cardano-based ecosystem that offers a wide range of blockchain solutions. Whether it’s API provisioning, light crypto wallets, or DeFi exchange, RaySwap has become an all-in-one project on the Cardano platform.
Ray is more than a Swap – it is a dedicated network that works on the Cardano (ADA) blockchain. RaySwap has its own token and a wallet. Staking on RaySwap through ADA allows users to earn 5% of APR. With RaySwap, users have the freedom to swap a multitude of tokens.
Like top-tier Cardano projects, RaySwap is also ambitious and allows users to leverage Yield Farming and AMM. In fact, RaySwap is a huge network that also covers the NFT space. Experts suggest that RaySwap is one of the most effective, practical, and ambitious ADA projects.
5. World Mobile Token
On the surface, the World Mobile project looks the same as Empowa. However, the focus of this project is on robust mobile connectivity. Mobile World project wants to connect the entire world through the Cardano blockchain. World Mobile project wants to interconnect 4 billion people that are not part of the modern digital space.
Ordinarily, cellular data comes with a hefty price tag that makes it unreachable to underdeveloped parts of the world. And this is where the World Mobile project comes into the picture. This project plans to solve traditional cellular connectivity issues and make Wi-Fi-based mobile connections highly accessible.
World Mobile offers a dedicated digital ID that allows users to access banking systems online. With World Mobile Token, people in Africa can enjoy economic perks that western countries take for granted. World Mobile also doesn’t follow the steps of conventional mobile networks.
Instead, it allows users to access as much data as they want. Users can even get access to education and healthcare through digital IDs. World Mobile Token (WMT) has a maximum supply of 2 billion with 200 million in distribution during its Initial Coin Offering.
Through World Mobile Token (WMT), the project has made it possible to start smart villages in different parts of Africa. In layman’s terms, World Mobile Token (WMT) connects third-world countries through the Cardano blockchain.
Most projects have managed to find their find around Alonzo update. In 2022, Cardano plans to attract more projects and shake up the dominance of Ethereum blockchain. Crypto experts concur that ADA can be one of the best players in the crypto landscape extending beyond the market cap.
The ambitious drive of Cardano is here to stay and opens up more room for exciting and interesting projects. Crypto market analysts hope that the highly proactive and growth-driven approach of Cardano throughout 2021 extends to 2022. With consistent market cap and impressive new projects, investors and developers are bound to see ADA as one of the best platforms.