Cryptocurrency markets have seen better days. But if you invest in the largest cryptocurrency in the world right after its launch, you are still ahead of the game. Bitcoin It’s up over 3,250% since 2009. Even if you’ve invested in Bitcoin later, you may still be looking for double or triple gains.
But what if you don’t? Well, if you missed Bitcoin in its early days, don’t worry. Now is a great time to join the young cryptocurrency players who might follow in Bitcoin’s footsteps – by offering long-term growth. A good example of that Cardano (ADA 1.02%).
Next: Vasil Hard Fork
Cardano is celebrating its fifth anniversary in a way that satisfies users and investors. The blockchain is launching an upgrade this week: the Vasil hard fork. This should add to the speed and efficiency of Cardano. This would help attract more developers and users.
For example, Vasil’s hard fork will use an accounting model that should support faster and more complex decentralized applications. The hard fork will also introduce propagation pipelines. This will simplify performance – and increase the amount of data Cardano can handle. Today, data blocks go through a series of steps. The pipeline allows some of these steps to occur at the same time.
As today, Cardano has already made significant progress. There are more than 3,200 Plotos (the original smart contract language used in Cardano) on the blockchain. Developers are building 1,100 projects there. The blockchain has processed a total of more than 50 million transactions.
Out of the way, Cardano is heading for another major achievement: the launch of the Hydra Heads Scale solution. Hydra headers allow certain operations to be performed between a certain number of participants outside the main network.
The test showed that each hydra head can handle 1,000 transactions per second. The goals of hydra are to increase the amount of data handled in a given time and the speed it takes to complete a transaction.
Vasil’s hard fork – and later Hydra’s scaling solution – could secure Cardano a top spot in the cryptocurrency world.
Today, the cryptocurrency operator is already among the most popular. It is the eighth most valuable in the market. However, like the rest of the cryptocurrency market, the price of Cardano has fallen in recent months. Cardano is down more than 60% so far this year.
Given the Cardano improvements set to happen soon and in the future, and the Cardano price today, now is a good time to get into the story. Vasil’s hard fork probably won’t boost Cardano’s price right away. EthereumThe recent upgrade – known as consolidation – did not elevate that cryptocurrency.
Today’s Economic Environment
Investors have moved away from cryptocurrencies amid concerns about rising interest rates and the economy. In this context, investors often prefer safer assets. As a new industry, cryptocurrency carries more risks.
But an economic downturn does not last forever. And when things start to improve, riskier assets should see a new wave of interest. All of this means that cryptocurrency investors will likely have to be patient.
If you are comfortable taking risks and are ready to stick for the long term, Cardano could be a great player to buy now. Before her promotion, Cardano may be in one of the most exciting moments in her story.
Cardano may not climb as much as Bitcoin. But it can deliver a very solid performance over time. So, even if you miss the most famous crypto player, you can still win big in cryptocurrency with Cardano.
Adria Semino He has positions in Ethereum. Motley Fool has positions in Bitcoin and Ethereum and recommends them. Motley Fool has a disclosure policy.
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