2 years ago
Date: 15 Feb 2022 - 20:48

Key TakeawaysKraken Intelligences latest report bills Cardano to emerge as one of the best L1 blockchain.The verdict is based on Cardanos valuedriven approach to development.Massive network growth and plans around scalability will also play a key role for Cardanos dominance.Development on the Cardano blockchain has a lot of exciting prospects lined up for 2022. Some of these are highlighted in a new report published by the analysts at Kraken a cryptocurrency exchange. While pointing out the massive network growth and key milestones Cardano has reached the report hyped the proofofstake PoS blockchain to be emerging as one of the strongest contenders in the Layer 1 blockchain space.Cardanos values will be a key factor to place them at the top says Kraken Intelligence reportIn the February edition of the Kraken Intelligence report on the crypto industry the exchange focused on the biggest proof of stake blockchain in the crypto market. The report titled 8220Cardano A new generation of smart contract platform design8221 eulogized the Cardano blockchain for its valuebased approach to building its ecosystem.8220Cardanos values have noticeably directed the projects developments and design decisions and as a result the blockchain looks like it has been designed with the purpose and standards of providing decentralized global financial infrastructure rather than only focusing on providing a Web3 experience8221 Kraken noted.Source Kraken IntelligenceTo support this Kraken points out that Cardano is one of the more resilient blockchain networks that emerged from the initial coin offering ICO era of the crypto market. Cardano has also continued to deliver on its promised roadmap although sometimes with significant delays. However when they bring their products to market the Cardano blockchain has always lived up to expectations as an emphasis on 8220community governance academic peer review and the assurance programming8221 has always shone through.Kraken Intelligence highlights that Cardano is well on its way to bringing its vision of onboarding 2 billion people if it continues on its development track. This is due to the key partnerships and milestones the network has been recording from last year.Cardano has formed partnerships with several governments especially in Africa. Massive network growth as well continues to be recorded both onchain and offchain on Cardano. One key driver of the network growth is the burgeoning web 3 ecosystem that is being developed and utilizing Cardanos unique Plutus smart contracts platform.Looking forward to the Cardano blockchainAs outlined in Cardanos roadmap this year has a lineup of developments activities and upgrades that will bring scalability to Cardano as part of its Basho era. Among these are Hydra a layer 2 scaling solution that will make micropayments possible. There is also Milkomeda which will make Cardano crosschain compatible with EVM blockchains and the rollout of supporting infrastructure for developers. All these make Kraken surmise that 8220if all goes well 2022 could prove to be an exciting year8221 for Cardano.

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