Cardano is a third-generation blockchain that was developed in 2017 as an alternative to Ethereum, aiming to correct all the flaws Ethereum had and make a better, faster, and easier-to-use chain.
Reality is changing so fast in the crypto world and now Ethereum has reemerged as a better blockchain option, after its relocation to proof-of-stake (PoS). How will this affect Cardano and is Cardano still a good investment?
In this article, we’ll talk about all the advantages of the Cardano blockchain, who uses it, and why. We’ll take a look at the best alternatives to Cardano (ADA), that are set on Ethereum, such as Tamadoge (TAMA) and Lucky Block (LBLOCK), but also Binance Smart Chain, like Battle Infinity (IBAT).
Main Advantages of Cardano Blockchain and ADA Coin
Cardano is a proof-of-stake blockchain platform where you can become a validator by staking the platform’s native ADA token. By staking some of all of your ADA coins you earn passive income in network fees for all the transactions you validate.
The Ethereum co-founder Charles Hoskinson was hoping to create a more sustainable and scalable blockchain when he launched Cardano as an alternative to Ethereum. Bitcoins’ biggest competitor Ethereum was still relying on proof-of-work (PoW) protocol that was regarded as slow, energy consuming, and outdated, so much so that all alternatives based on PoS, like Cardano, were welcomed.
Investors use ADA mainly for staking, for which they receive rewards also in ADA, and to pay transaction fees for using the platform.
Now that Ethereum went through the Merge and became PoS-based, Cardano may be much affected by this upgrade.
Cardano Cryptocurrency 2022
Cardano is a cryptocurrency created and traded as a potentially prevalent model of investing and earning money. Good marketing and a large community have upgraded the currency’s value to significant numbers. However, after the crypto crash in May, the price dropped and has continued to decline until now. Although experts expect raising back in value in years to come, it will hardly be as impressive as investors expected.
Cardano price prediction
One of Cardano’s most prominent (ADA) features is its origin, created under the Ethereum blockchain by its co-founder Charles Hoskinson. It is designed to be a part of the proof-of-stake blockchain as an opportunity for investors and visionaries to make the world a better place. The team building has created an interoperable and scalable multi-asset ledger with a platform for verifiable intelligent contracts.
Cardano was supposed to be a more efficient alternative to proof-of-work networks like Bitcoin and Ethereum. Because of that, it had higher interoperability and the potential to be faster, cheaper, and more sustainable.
Things went well until May, and mentioned crash, when major cryptocurrencies collapsed, taking all more minor currencies with them. Cardano was one of them that dropped in value, seemingly even more than any other currency. It was the only currency that ended 2022 with a price lower than its minimum during 2021. Investors have pulled their investments, and the token lost its value quickly.
Although experts expect coming back of the currency in months to come, it will hardly be a stable and sustainable model of investing for a long time. If we see predictions, Cardano will not have significant raise in price in years to come.
Is Cardano Blockchain a Good Investment and Why?
Just in the first three weeks of September Cardano’s price was in a slow but imminent fall dropping by 12 percent in the past seven days. The current price is $0.4485 per ADA which is around 85% below the all-time high of $3.10, according to Coinbase.
The fall of Cardano is not expected to last long, since the blockchain is preparing an important upgrade for September 22. The Vasil hard fork is expected to go live and enhance the network’s scalability and usability, but also recheck the ADA price.
While Cardano is struggling to get back on its feet in the shadow of Ethereum’s Merge, investors’ interests once again turn to Ethereum and its big stars like Tamadoge, which is a new presales record breaker amongst cryptos.
Tamadoge as the Best Ethereum Alternative to Cardano Blockchain’s ADA
Tamadoge (TAMA) is the first meme coin with significant utility and it just closed its presale by rising by $19 in a month. The project offered half of the total two billion supply on presale and they all sold out ahead of time.
Tamadoge is more than a meme coin since it’s also a ticket to Doge themed metaverse where users spend time with the amazing Tamadoge Pets in a play-to-earn (P2E) virtual setting.
Tamadoge Pets come in the form of NFTs you can own but also develop through the game by raising them to adulthood and earning rewards for your devotion. Your Tamadoge Pets can also battle other players’ pets and earn ‘Dogepoints’ that transfer to TAMA tokens.
Lucky Block – the Best NFT Competitions Platform
Lucky Block is the market-leading NFT competitions platform whose coin LBLOCK got in front of hot new coins after a series of listings on high-profile exchanges, including LBank, MEXC, and Gate.io.
There are two upcoming events on Lucky Block’s calendar that investors are anxious about since they should boost the price of LBLOCK.
Lucky Block is planning to start a burn program that will make this token a deflationary asset. The plan is to burn 1% of tokens each month to decrease the current supply of 3.65 billion tokens.
Lucky Block is also soon to release an Ethereum bridge that will connect the two versions of LBLOCK coin set on two different blockchains and make them interchangeable.
LBLOCK coins are used to purchase Lucky Block NFTs that gives you access to competitions at the Lucky Block NFT Competitions platform. Each Lucky Block NFT collection has its designated Lucky Block NFT competition and its designated prize.
The project’s coin LBLOCK is already popular with investors and the upcoming upgrades are pushing this coin even higher on the list of coins to own this year.
Battle Infinity the Binance Smart Chain Alternative to Cardano
Battle Infinity is a fantasy sports play-to-earn (P2E) ecosystem based on the Binance Smart Chain that managed to sell out all the coins offered in presale earlier than expected.
The Battle Infinity P2E ecosystem consists of several products. There is a fantasy sports game where players are collectible NFTs, but there are other assets also structured as NFTs, like customized avatars or virtual land. These NFTs can be bought or sold on an NFT market. There is also a games store, a decentralized exchange, and a staking platform.
The most interesting part of the project is a social interactions platform set in virtual reality where players can interact on a whole new level with their game surroundings.
The project is currently at phase four on its roadmap, where several exchange listings are planned but also a launch of the Battle Stake platform. All of this makes Battle Infinity’s native token IBAT the best coin to own in 2022.
Cardano is experiencing a current fall in price that is not expected to last long and is probable to be followed by a positive price correction after the expected upgrade.
The expected changes in price might be slight when compared to long-run projections that are in the case of Cardano pretty volatile. There are no guarantees how the Ethereum Merge will affect ADA coin price in the upcoming months.
The best alternatives to buying Cardano are amongst new but strongly set coins, like Lucky Block which has a roadmap rich in momentous events pushing the price of LBLOCK higher each time. Tamadoge is also a choice to consider since investors couldn’t get enough of this meme coin with utility that has a record presale.
If you see the potential in metaverse games but would like something based on real sports, Battle Infinity is the project to invest in in 2022.