A Redditor takes a closer look at the narrative surrounding the Cardano smart contract platform and questions whether the fanbase is too loyal about the project to remain neutral. Here are 6 Cardano predictions …
LewiOcBT: Why wouldn’t someone invest in ADA?
Redditor LewiOcBT asks users on the Cardano subreddit if they have any criticisms of Charles Hoskinson amid their enthusiasm for their project. LewiOcBT tells the Cardano Reddit community that they are fans of the network, but wonders if they can remain neutral when reviewing the seventh largest coin by market cap. LewiOcBT says the following on the subject:
That’s why we all love Cardano here and cryptocurrency in general, and it’s great. I like this Reddit page but there is a danger of it becoming an echo chamber. Is there any negativity you can think of about Cardano? Why shouldn’t someone invest? Every professional will inevitably have some downsides.
Drtheo94: Cardano still lacks smart contract functionality!
According to Drtheo94, a Reddit user, Cardano’s main shortcoming is that it still lacks the smart contract functionality that its central rival Ethereum has had for almost a decade. Drtheo94 says the following on the subject:
The most common criticism I see compared to other altcoins is the lack of smart contracts. There is a roadmap with a timeline for when Cardano will bring everything, including smart contracts. But not everyone reads this or expects things to go well.
SoHandsome_3823: Cardano’s biggest drawback is its long-term approach to development
The company behind Cardano, Input Output Hong Kong (IOHK), announced earlier this month that smart contracts will launch on the blockchain this August. Meanwhile, user named SoHandsome_3823 argues that Cardano’s biggest drawback is its long-term approach to development. SoHandsome_3823 says the following on the subject:
The only ‘cons’ I see are that the project is unsuccessful or it is not a short term project… It will take five, ten, fifteen years to reach the level of mass use. We do not know how the world will look at that point …
KeyReturn7424: This is a very slow project, a lot can happen in 5-10 years!
Cardano’s slow growth is one factor that Reddit user KeyReturn7424 calls a potential disadvantage in the struggle to attract users. KeyReturn7424 says the following on the subject:
This is a very slow project. In 5-10 years, a lot can and will happen. Smart contracts are coming, but will large institutions buy it or will they stick to Ethereum? Nobody knows, but the sooner Cardano starts canceling contracts, the better.
Geltmascher: I’m worried about Cardano projects in Africa
Reddit user Geltmascher worries about Cardano projects in Africa and points out that if they fail, there could be a reputational risk. Geltmascher says the following on the subject:
We are all very excited about developments in Africa, but if the project fails, it could damage the perception of the project as a whole.
International-Trip42: High number of cryptocurrencies in circulation may miss some ‘investors’!
According to International-Trip42, Cardano’s current token number could be another deviation for investors and miss some investors. International-Trip42 says:
The high number of cryptocurrencies in circulation means that the growth area is now quite low. This may miss some ‘investors’. Because prices will not decrease anytime soon.