OK, let me start off by saying that I explicitly emphasized the word ‘likely’ in the title so it wouldn’t go as click-bait. That being said lets take a look at what I think is to expect during this bull-run.
The other day I read this article mentioning a popular analyst who predicted that ADA will go as high as $5 during the current bull-run. As much as I like to believe positive news when I see it I always tend to fact-check first. I’m not an analyst nor am I an advisor. And I’m sure as heck not going to get caught trying to predict the future ADA price because I don’t have a crystal ball. What I would like to do is just look at the current situation. And have my own opinion based on that.
Now before looking at the Cardano roadmap please keep in mind that Cardano is still very much in development. It is by no means a finished product. We’re not even half way. The previous ATH was purely based on the groundbreaking ideas IOHK presented. The blockchain design is based on peer-reviewed academic research. This makes development slower than other blockchain projects but the quality is guaranteed. There’s a team of engineers, mathematicians, scientists, and business professionals working on the development of Cardano.
From Byron to Shelley
Last year, July 29th to be more precise, the Shelley era started. This was the second phase in the Cardano roadmap and it introduced staking, or POS. After the Byron era, in which the mainnet was launched, Shelley formed the foundation for the future, optimizing decentralization and moving from a federated to a community based network. Also during this period Marlowe got introduced, a language for creating smart contracts on Cardano, written in the language of finance, rather than a difficult programming language. Marlowe can used be when Goguen is launched and will benefit the writing of decentralized applications.
Smartcontracts with Goguen
Goguen launch is set at March this year. This is an exciting new era because it will introduce smart contracts, decentralized applications (DApps) and some improvements to the Core Cardano offering which will let users create new natively-supported tokens. It will be possible to have fungible and non-fungible tokens, create new crypto currencies on the Cardano blockchain and users will be able to tokenize several types of digital and physical assets. Furthermore there will be an easier integration of smart contracts and DApps involving multiple cryptocurrencies. The Goguen era opens doors for developers to create all sorts of exciting applications on the Cardano blockchain, with even more exciting things to come during the Basho and Voltaire eras.
When I look at the foundation of the Cardano blockchain, the way it’s all being peer-reviewed, which is a big deal, the time they take to make absolutely sure to lay down a design that lasts, the fact that they have problems like governance and scalability solved up-front and we’re on the verge of a new era that will allow for all the creativity you can think of I myself can’t be more bullish about it. Will ADA reach $5 during this bull-run? Only time will tell. As mentioned earlier, I don’t have a crystal ball to look in. I wouldn’t be surprised though. At the time of writing over 69% of the circulating ADA is staked. Let that sink in.