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San-Francisco based crypto exchange – Kraken – analyzed the growth of Cardano network. It reported significant growth on the basis of multiple factors. Although the report was published in February this year. Still it makes quite a sense to take a deep dive into the report and to know the key insights. The report is full of crucial figures that could indicate the further path for Cardano (ADA) ahead.
The research subsidiary of Kraken crypto exchange named Kraken Intelligence prepared the report titled ‘Cardano: A new generation in smart contract platform design’. Report talked about a wide variety of subjects including technology, Web3 ecosystem along with the growth of network and adoption.
The Kraken report noted that from the very beginning, Cardano received ill-fame given the projects driven by ICO in 2017 after the launch of the network. However, the network left everyone surprised given its survival despite the notoriety after the ICO-wave. Many projects facing similar issues did not make it and left crypto space, while Cardano set itself as a warrior.
Cardano is more like a project focusing on value. The network that emphasizes and gives importance to community governance, peer-review and highly assured programming, the 42 pages report added. Values within the Cardano network have directed the development and design decision of the project which is clearly visible. All these factors together result in the perception of blockchain showing it as being created while taking the purpose and decentralized standards into account. Their focusing regions also included the global and financial infrastructure instead of taking only the Web experience into their consideration.
According to the Kraken report, the network knows and gives importance to the requirement of infrastructure along with the highly ambitious goals. Such factors help them to run in a correct manner even when considering it as their first time running. The report added that this approach of Cardano is quite different from the general philosophy of development teams of other projects in Silicon valley who follow ‘launch now and fix as we go’.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
