- Cardano enthusiast explains how Cardano ma be the victim of its own perfection.
- He then compared Cardano’s journey to Solana’s.
- Principles have lost Cardano its lead, the enthusiast hopes to see the blockchain catch up.
With falling sentiments for altseason and the unlikelihood of altcoins going on to set higher ATH prices, altcoin holders and top altcoin project enthusiasts try to hold on to their assets and mitigate risks for what could be a bearish market ahead. Amidst the low sentiments, one Cardano enthusiast explains how Cardano may be the victim of its own perfection, and explains in detail why he believes so.
Cardano Enthusiast Explains How Cardano May be the Victim of Its Own Perfection
To start off, this popular member of the Cardano community stated that Cardano may be a victim of its own perfection. He says that while IOG and the Cardano Foundation have tried and are definitely still trying to do the best for Cardano, they may have made some mistakes that could have stemmed from their commitment to principles. He says that presently, Solana is ahead of Cardano in market cap because it won the Ethereum killer narrative.
Then he goes on to elaborate why he believes that is true. He begins by stating that the Solana team preferred scalability over decentralization. It had the goal of delivering a fast L1 to the market regardless of quality. People accepted it and ignored the network restarts while the Cardano ecosystem has always preferred decentralization. Its narrative was academic approach and peer reviews.
This allowed Cardano to deliver 100% uptime, zero major hacks, top decentralization, on-chain governance, and much more. Cardano did it right, but many early adopters chose user comfort and low fees over decentralization and security. What’s more Solana has many developers thanks to generous grants from the Foundation, making building on Solana an easier feat than building on Cardano.
Cardano vs Solana
Another differentiator is the fact that Cardano decided to implement on-chain governance before it started using a Treasury. Again, he reaffirms that from a principle point of view, Cardano took the superior approach, although he admits that a more aggressive investing approach could have been more effective. Next, he mentions how Solana and its partners pumped liquidity while Cardano had a fair coin distribution.
Lastly, he said Solana invested in marketing and is more visible at various events. So by 2021, Solana was the second most successful NFT platform after Ethereum. Ultimately, the analyst believes that Cardano did everything right, but took a much slower approach due to principles which led to its competitors stealing the lead. He concludes by hoping that Cardano can pick up to pace so its value matches all of its hard work.