Cardano’s Development Pace
According to crypto analyst Lady of Crypto, Cardano’s slow development pace is one of the reasons why it won’t perform well during the next bull market. She pointed out instances when the blockchain network experienced delays and network congestions, suggesting that it cannot keep up with the fast-paced crypto industry. She believes that Cardano will continue to fall behind its competitors until it becomes insignificant.
Lack of Usage
Lady of Crypto also mentioned that no one is using the Cardano blockchain. She used data from DefiLlama to support her claim, highlighting the low number of daily active users, protocols built on the network, and total value locked. While these rankings may not be terrible, they indicate that Cardano is underperforming compared to other “blue-chip cryptos.”
Slowness and Expensiveness
Another flaw Lady of Crypto pointed out was Cardano’s slow transaction speed and high fees. She compared it to other networks like Ethereum, Solana, Arbitrum, Polygon, and Avalanche, stating that Cardano falls behind in terms of transaction speed and affordability.
A Counterargument from Charles Hoskinson
In response to Lady of Crypto’s criticisms, Cardano’s founder, Charles Hoskinson, expressed his willingness to have a conversation with her to address her concerns about the network’s ecosystem.
Hot Take: Will Cardano Overcome Its Flaws?
While Lady of Crypto has outlined several reasons why Cardano may struggle during the next bull market, only time will tell if the project can overcome these challenges. As a prominent player in the crypto space, Cardano has the potential to address its flaws and improve its performance. With ongoing development efforts and a dedicated community, Cardano may surprise skeptics and prove its worth in the future.
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