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1 313 minutes ago
With the market capitalization of over 2 billion dollars and still rising, Cardano ADA is already one of the top 10 currencies, also acquiring a decent rise of over 2% in the last 24 hours despite the dip. Cardano alongside with Ripple (XRP) and Stellar Lumens (XLM) makes up for one of the rare coins among the toppers that have managed to acquire a solid pace of growth on October 17th despite the fact that the market is acting sluggish on the cryptos once again. One of the most recently announced technical developments of Cardano (ADA) goes in favor of trying to solve one of the major problems within the blockchain space – designing a fully scalable network.
The main goal of ADA is to provide simple and cheap financial solutions for three billion people that have access to none of the traditional or new age financial solutions that are currently being used, which is why the network has to be able to operate with the increased traffic which should only be successful in the case of acquiring a scalable ecosystem.
In one of his latest updates to the community outside his concerns for the slow performance of the board of Cardano foundation, Hoskinson stated that the team has been working on their first paper that includes parallel chains, as well as presenting the concept of sharding that ought to solve the scalability issues.
In case ADA acquires a fully scalable network, it would definitely come closer to Hoskinson’s previously stated objective of having ADA becoming the third generation cryptocurrency and potentially make ADA even bigger in 2019.