Summary of Can Cardano Succeed? Scalability Analysis

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00:00:00 - 00:35:00

The video discusses how Cardano's scalability issues could prevent it from becoming a mainstream cryptocurrency. The presenter believes that while Cardano has the potential to be a great platform, it will likely have difficulty attracting users due to the current bear market and lack of new updates.

  • 00:00:00 Cardano is a decentralized smart contract blockchain with a unique staking model that rewards users for holding Ada. However, Cardano's inflation rate is not as good as other proof of work cryptocurrencies.
  • 00:05:00 Cardano is a new blockchain platform that is trying to compete with Bitcoin and other well-established platforms. The platform has undergone a number of updates in recent days, including a vassal hard fork that adds more developers from the traditional web 2 world and optimizations to the reference inputs and fees. Cardano's main focus is on smart contracts and its writing language, which is said to be more familiar to developers. However, Cardano has faced some controversy, with some people believing that Hoskinson is a bit controversial.
  • 00:10:00 The author discusses Cardano's scalability issues and how they have decreased its active account count and fees. They also discuss how Cardano is cheaper to claim a stake in than other smart contract blockchains.
  • 00:15:00 The cardano network has gone through four four-time increases in terms of terms of transactions and three times in terms of normal transfer transactions. Swapping cardano to another account costs eight cents, but when interacting with smart contracts, those costs will be higher, costing 10 cents each. Ada and cardano's evaluation at ten dollars would be six dollars for changing the price of an nft. With median family incomes of 180 dollars per month in Tanzania, adaptating to cardano would be very expensive for most people, and deflation is a major worry. Hoskinson's has said that burning tokens is equivalent to destroying someone's property, and this analogy applies more to destroying a part of metal equipment than a car. With no investment money lying around, many people in Africa would be priced out from using cardano.
  • 00:20:00 Cardano plans to increase the size of its blocks to help make the network more scalable, but this could lead to the death of some nodes.
  • 00:25:00 The author of the video discusses scalability concerns with the Cardano blockchain, highlighting that the size of the blockchain could quickly become too large. The author also discusses the use of Hydra, a scaling solution for the Cardano blockchain. Although Hydra has its own issues, it will ultimately improve the scalability of the Cardano blockchain.
  • 00:30:00 Cardano is a decentralized platform designed to enable smart contracts and payments. However, scalability issues may prevent it from becoming a mainstream currency.
  • 00:35:00 In this video, the presenter discusses how they believe that Cardano is going to have a difficult time succeeding due to its scalability issues. They state that while Cardano has the potential to be a great platform, it will likely have difficulty attracting users due to the current bear market and lack of new updates.

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