Cardano treasury has surged to 1.5 Billion ADA with a cusp of breakout as per price action
Cardano is currently getting backlash from various people in the crypto ecosystem. Meanwhile, Charles Hoskins is smiling with two major weapons in his artillery. The first is his growing treasury, which shows the growing support of the Cardano community, and the second is Ourobros Leios. Let’s have a look at both.
Ouroboros Protocol: A Better Alternative to Proof Of Work
“Ouroboro” is a proof-of-stake protocol positioned to rival the security of proof-of-work systems while offering several benefits. It addresses the pressing need for energy-efficient alternatives by leveraging a “proof of stake” blockchain framework. Ouroboros not only matches the security guarantees of proof-of-work protocols but also introduces various improvements that promise to reshape the blockchain landscape.
One of the Ouroboros features is its innovative reward mechanism, designed to incentivize participation in proof-of-stake protocols. It also introduces a model that addresses the challenges of realizing a proof-of-stake blockchain protocol. These measures ensure the persistence and liveness properties vital for a robust and reliable system.
Seeing all the dunking on Cardano makes me smile a bit. We are holding all the cards as an ecosystem. We have the best path for scalability, governance, and innovation. We also have the best community.
— Charles Hoskinson (@IOHK_Charles) April 7, 2024
Chang is coming soon as measured by progress on SanchoNet. Ouroboros Leios is… pic.twitter.com/11RTXaDrZU
Moreover, Ouroboros demonstrates its practicality through empirical evidence, showcasing its effectiveness in real-world scenarios. Experimental results on transaction confirmation and processing validate its viability, underscoring its potential to address the energy consumption concerns inherent in proof-of-work protocols.
The protocol emerges as a significant advancement in blockchain technology, offering both security and efficiency advantages. With its innovative design, formalized security, and demonstrated practicality, it presents a compelling solution to the challenges facing contemporary blockchain systems. It will give Cardano a competitive edge over the others.
The Growing Treasury of Cardano
Cardano treasury is growing at a strong rate, which resembles the trust and support of the community towards the ecosystem. It has recently surpassed the mark of 1.5 billion tokens with a net value of over $760 Million. Many analysts are crediting this growth of treasury to the growing network activity of the Cardano ecosystem. The funds in the treasury come from transaction fees and a small percentage of block rewards. That gives the community the power to vote or reject the proposals that need funds.
Is the Bullish Comeback for ADA Near?
Growing Treasury And Ouroboros Protocol: The Armament Of Charles by Ritika_TCR on TradingView.com
Cardano has a market cap of $17.5 billion and is ranked 10th among the crypto ecosystem. ADA has recently observed a drop of 19% in the volume in the past 24 hours. As per the daily chart, the ADA token is trading below the 50,100 and 200 EMA. If it jumps above the EMA, a strong upside momentum in price can be seen.
The RSI of ADA is near the value of 42 with a slight negative slope in it. The overall momentum of the indicator is neutral.
Conclusion
The Cardano ecosystem and on-chain activity are growing at a rapid pace. The overall growth in the treasury is a symbol of community support. Meanwhile, the ADA token is currently at the verge of a breakout and can see a new high in the future.
Disclaimer
The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.
