Cardano [Explained for Beginners]

Cardano [Explained for Beginners]

cardano one of the most well-known projects in the cryptocurrency space cardano has been a staple in the top 10 total market cap rankings for years now but is it just me or does cardano feel like it’s losing bit of its Edge bit of it sexiness bit of its appeal is it slipping are those other projects that are coming up the ranks going to eat cardano’s lunch well today we’re going to take a look at good old boy cardano figure out just what the heck is going on with this protocol and of course we’ll be explaining cardado in a way that is so simple that even your grandmommy can understand what the heck is going on here however before we do get started I would like you to note no one has paid us to make this video the information that you will find contained in this video is provided to you for free for educational purposes this is not a recommendation for you to out and buy sell or hold cardano’s cryptocurrency Ada okay furthermore you can see my full risk statement because guess what investing in crypto is risky you can lose all your money as well as my full portfolio disclosures in the description on YouTube or in the pinned comment on X I don’t currently hold cardano by the way now cardano’s story goes back to 2013 when valal butter and in a small team were working on ethereum one of the computer programmers on that team was a dude by the name of Charles hoskinson The Story Goes that butan and hoskinson had a project disagreement early on so hoskinson in 2014 went out on his own way and he founded iohk a blockchain research and engineering firm hoskinson and iohk began working on cardano back in 2015 and the blockchain officially launched in 2017 so cardano is one of the ethereum killas we’re talking about a select basket of crypto projects here that function in a very similar way to ethereum does they host smart contract applications but are looking to take away ethereum’s dominant market cap share and part of the user base so stuff like binance smart chain salana Avalanche polka dot near and many others obviously cardano included now like ethereum and most of the other protocols that I just listed cardono is a decentralized layer one blockchain network that allows for developers to build applications on top of it so we’re talking decentralized Finance nfts gaming decentralized identity services and a bunch of other stuff it’s all done on cardano but at a high level cardano tries to separate itself out from the other ethereum killer crowd in three different ways better research tackling the big Global issues and higher performance metrics so let’s look at each cardano absolutely markets itself as the nerdy blockchain okay the blockchain for Ivory Tower intellectuals the Harvard of blockchains if you will now to get a sense of what I’m talking about here you can head on over to the cardono website cardoor resesarch and take a look around and holy cow man if you get off on a bunch of like computer science white papers with weird words and complicated mathematic formulas like you’re going to love this place references all over the place of course to literary greats as well so you know maybe it’s that floats your boat now maybe cardano is the most research and technically Superior blockchain out there right and look I haven’t spent the last seven years pouring over all of these papers it’s nerdy stuff to me but my point is that at a minimum cardano really wants you to think that is Mega nerdy because it is Mega nerdy next what about tackling Global issues while cordano is positioning itself to be a blockchain that solves real problems across important sectors like education agriculture government and Health Care Big Stuff most of the concerns center around issues uh particularly related to stuff like authenticity and verification so we’re talking about things like like putting your University degree on the blockchain so that you can’t you know fudge your resume or mess with results and it can be easily verified by anyone around the world or tracking the origin of pharmaceuticals so they’re less likely to you know die from counterfeit medications that sounds like a pretty cool use case right main point here is that from a mission perspective cardano is pretty much on point and it’s exactly the opposite of your Classic Dog coin right this is all really cool stuff so hats off to cardano for pursuing those goals I like it now what about performance metrics well if we compare ethereum Solana and cardano we find that cardono outperforms ethereum dramatically but also underperforms other ethereum Killers like salana now this makes sense of course given that cardano was released a few years after etherium but before some of the newer projects like salana and yeah I know scaling stuff like Hydra will bump these numbers up in fact one thing with cardano is that everything’s taken a really really long time to happen we’re talking some of the basic stuff here to get staking took years to get smart contracts took years Hydra a lot of the other things that are coming along these are very long-term research projects and that’s kind of the cardano motto go slow and try not to break things however the go fast and break thing blockchains have been having quicker progress than cardano so it’s worth keeping that in mind we should also keep in mind that basically all these projects are promising more upgrades uh in the future better performance metrics in the future so all the other major lay on blockchains have stuff coming so the statistics are constantly changing as worth keeping that in mind now diving into the technicals we’re only going to really be diving into cardano’s Ora Boris proof of stake consensus mechanism there’s a lot of stuff we could unpack but let’s just focus on this for today similar to other proof of stake systems or a boros is an algorithm that selects a validator at random to process each of cardano’s blocks however the algorithm itself randomly changes over time which apparently provides more security to the network because of the extreme difficulty in anyone actually trying to be able to predict how the algorithm is going to change an Ora Boris by the way is the ancient symbol of a snake eating its own tail which is pretty cool to be honest a lot of cool stuff cool references in the cardano ecosystem again you know those fun historic metaphors that just represents so much what cardano is about right the Nerds behind it now let’s talk about cardano’s Native token Ada the token has three use cases staking transaction fee payments and governance now Ada has a maximum supply of 45 billion tokens the initial allocation broke down with 57% going to uh early investors 11% to the team and 30% reserved for staking rewards currently 35 of the 45 billion have been released out into public circulation Ada is currently inflating at 5.42% annually this will decline over time with all 45 billion tokens released into circulation in about a hundred years we won’t be around to see that but it’ll happen at some point and as you can see from the Supply schedule the tokens allocated to the public sale and team have already been released with those reserved for staking rewards all that are left to be unlocked for the coming well 100 years right all right now before we continue I want to let you know about something very important let me interrupt the flow real quick because I want to let you know about the best damn newsletter in the cryptocurrency business that happens to be my newsletter it’s called wealth Mastery every single week we are bringing you the latest and the best moneymaking insights on airdrops altcoin news deep Dives nfts technical analysis cryptocurrency memes and much much more you can join 125,000 plus weekly readers and sign up for free yes for free using the link Down Below in the description or in the pin comment on X now let’s talk about Partnerships cardano does shine here just a few days ago a mergo which is a tech firm affiliated with cardano kind of the VC arm of cardano if you will they partnered with GSR in order to help grow out the cardano ecosystem GSR as a global trading firm and liquidity provider in April Urgo also announced a partnership with Huawei cloud in order to expand the cardano network across the uh asia-pacific region in March Dubai Police pretty cool Dubai Police announced a partnership with cardano with their uh criminal investigations unit specifically the Dubai Police plan to use the blockchain to securely share data with regards to different criminal investigations that they’re doing that’s really cool I like that and in December of last year the cardano foundation also partnered up with Brazil’s state-owned oil company petrobras to explore blockchain technology as it relates to the energy sector this is all really cool stuff and to be clear these are very very big Partnerships so hats off to cardano for continuing to secure regularly these kind of big Partnerships now if you can continue to sift through the news articles you’ll find cardano routinely makes Partnerships in alignment with their mission of solving larger Global problems none of this stuff solved overnight this is all slowburn stuff for cardano which is the cardano ethos really now what about cardano ecosystem statistics when we look at the total value locked on the network cardano actually ranks 23rd with $278 million locked on chain at the time recording these metrics change every 5 minutes so just keep that in mind if we filter by the number of unique addresses that have interacted with the blockchain in the past seven days cardano ranks all the way down at number 30 ouch and if we filter by the number of deployed applications cardano is in 23rd Place not what you’d expect for a blockchain it’s usually in the top 10 by market cap and one that’s been around for well since 2017 so those stats and mind let’s talk risks and opportunities the first risk of course that I see is cardano’s ecosystem rankings are kind of not aligned with its total market cap cardano ranks in the 20s and 30s across major key ecosystem statistics and metrics but about tenth in total market cap most days unfortunately I don’t feel like that’s a great indication speaking objectively here cardano could be overvalued and underperform forming versus blockchains that actually have much lower market caps but many more users total value locked uh more applications all that kind of stuff second risk of course is cardano’s price action here’s the historic chart of cardano and I hate to say it but it’s not giving me great Vibes right now I know we’re early in the cycle please I understand and the price will probably still see a big rally when the broader altcoin space really starts picking up and exploding but shouldn’t you want more compare the cardano chart to Solano right now A blockchain that was launched years after cardano and has almost returned to previous alltime highs this early in the cycle too which is very noteworthy so for cardano where’s the hype where’s the attention where are the builders why are there not more developers showing up to build on cardano why is everyone going over to salana why are user stats still so low and I know there’s a lot going on at cardano guys I understand it’s much more than the scope of a short video like this conc there’s the midnight side chain there’s the Bitcoin cash partnership there’s Ethiopia is that’s that’s still thing going on the Ethiopia exploring more in depth what Hydra does looking at some of the cardano daps the nfts the mean coins I mean there is stuff happening on cardano but it’s just not happening to the level that makes sense for the market cap when compared to other coins at least not to me anyway so what about opportunities look I really like cardano’s focus on tackling these big real world problems there aren’t a lot of other projects that seem to make this a priority so it’s great that someone’s actually talking about it and doing it so if cardano achieves major success in this area it could be a huge game Cher for the network itself and bring a lot of value in second big fan of Charles hoskinson and really the larger cardano Community hoskinson is a very interesting and inspiring leader for his blockchain I like Charles I’ve talked to him many times and I respect what he does and cardano holders are very committed to the vision of cardano and are patiently waiting for all this stuff to happen this is great and helps give the network a buffer when it’s going through those hard times so respect to all that but to sum up what I’m thinking I’m really hoping that cardano achieves that longterm success it is a slow burn blockchain project okay because I’m a fan of what cardano is doing they have that big vision and that big Vision stuff should be part of crypto but cards on the table I’m not currently investing in cardano right now due to my concerns about cardano’s ecosystem statistics compared to its market cap and from Ada’s larger price action that we’re seeing right now cardano fans feel free please tell me where I’m wrong in the comments tell me why you’re bullish on cardano right now I’m sure you guys will let me know all about it down below thank you so much for watching I’ll see you in the next video

Cardano [ADA] crypto altcoin explained for beginners.
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00:00 Background
02:24 What is Cardano
07:10 ADA Token
08:47 Partnerships and Ecosystem
11:00 Risks and Opportunities

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Disclaimer
Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. Lark Davis (The Crypto Lark and affiliated brand Wealth Mastery) is not providing you individually tailored investment advice. Nor is Lark Davis registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Lark Davis is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.