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When we encourage you to buy Cardano now, we do know that there is so much in store for Cardano in 2022. After all, when we invest in anything especially cryptocurrency, we do hope that something will come up that will make its value spur. As for Cardano, there are several things expected to happen in 2022 that will have a positive impact on its price. While some upgrades and collaborations in the Cardano network have already been implemented in 2021, the result of these new developments will mostly manifest in 2022. Below is some development you should expect in 2022 when you buy Cardano now.
One of the first things many analysts predict is that there will be a price spike on Cardano’s price by 2022. Unlike other Altcoin, Cardano has a massive potential, which is why analysts say it is reasonable to expect a reasonable spike in the price of Cardano by 2022. So, if you don’t already have Cardano in your portfolio, now is a great time to buy Cardano. Moreover, when you look at the price timeline of Cardano, you’d see that Cardano’s price has gone up by 1200% which is way better when you compare it with Bitcoin or Ethereum. Additionally, towards the end of 2021 in September, Cardano hit a record all-time high of US$3. The major driving force making Cardano price surge is simply the principle of demand and supply. Cardano can solve several problems other cryptocurrencies can’t, which makes it well-demanded crypto.
Another thing you can expect to happen with Cardano in 2022, especially for those who are looking to buy Cardano now is the Basho upgrade. When you think about it, every cryptocurrency at one point or the other undergoes an upgrading phase. The upgrade is necessary to help modify areas of the cryptocurrency that are lagging. Because the truth is that it is hard to anticipate all the possible issues that can arise from cryptocurrency until you put it out there. While Cardano has undergone up to five distinct eras or upgrading phases. Well, now with the Basho upgrade, crypto investors can expect better performance from Cardano. For example, the Basho upgrade is said to focus on scaling up the Cardano network to improve its performance. In other words, the Basho era will be one of optimization, improving scalability and interoperability of the network. Also, currently in the Cardano network, users can only use UTXO as an account model for transactions. But in the Basho era, users will have the option to switch between models.
Cardano to collaborate with Chain Link
Announced in the 2021 Cardano Summit, Cardano is set to partner with Chain Link. This partnership aims to provide extra support for developers to build smart contracts on the Cardano blockchain by integrating oracles. Oracles are essential if you aim to make real-world data accessible on Cardano. Oracles are so versed that they support advanced smart contracts such as DeFi applications amongst others. What this development simply means is that when it is fully in motion, it will make Cardano more valuable. So, those who buy Cardano now, and can be patient enough to hold it despite the price, can make a huge profit from it in 2022. This collaboration is set to first support market price feeds, after which it will support other Chainlink decentralized services. Other Chainlink decentralized services include the likes of non-fungible tokens (NFTs), parametric insurance products, and so on.
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Still, in 2022, the Cardano Hydra launch is expected to take place. With the launching of the Hydra 0.2.0 version the problem of reaching a consensus for every transaction will be overcome. Cardano Hydra is called for as the issue of trying to achieve a throughput at scale such as handling real-world tasks can be very annoying. Cardano intends to use the Hydra technology to protect against flooding attacks (DDoS) and deal with storage. This is possible since the Cardano Hydra technology will offer a layer 2 scalability solution as well as more efficient processing of transactions off-chain. In simpler words, the successful launching of the Hydra technology will help make Cardano’s blockchain process transactions faster in approximately less than a second to complete. With this, Cardano will have more value since it is way faster than most cryptocurrencies. Hence, if you buy Cardano now, you can be sure that after the successful launching of Hydra technology, the price of Cardano will increase.
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