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3 brilliant reasons to buy Cardano before its Chang hard fork

3 brilliant reasons to buy Cardano before its Chang hard fork

As the Cardano (ADA) community awaits its next critical update – a Chang hard fork set for late June, cryptocurrency traders and investors might want to use the time left to accumulate the popular token and strengthen their positions before a possible bullish rally ignited by the upgrade.

Indeed, Cardano is preparing for its Chang hard fork to enhance governance, boost functionality and responsiveness in the bull market, and officially mark the completion of the Voltaire phase of Cardano’s roadmap, which will also include the drafting of the Cardano Constitution in Buenos Aires.

With the upcoming event, announced earlier this year by Cardano’s founder Charles Hoskinson, there are three important reasons to invest in the token that has recently beaten Toncoin (TON) and Shiba Inu (SHIB) to become the ninth-largest asset in the crypto sector by market capitalization.

#1 Climate-friendly

First of all, Cardano is among the most environmentally friendly blockchain systems in terms of reducing the environmental impact of its operations, as its Proof-of-Stake (PoS) Ouroboros protocol is reportedly more energy efficient than traditional Proof-of-Work (PoW) systems.

Specifically, Hoskinson himself said in an interview in 2021 that Cardano was “1.6 million times more energy efficient” than the flagship decentralized finance (DeFi) asset and industry representative, Bitcoin (BTC). As he explained at the time, the secret ingredient was the PoS algorithm:

“The advantage of Proof-of-Stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages. So you end up getting protocols that are much lighter and massively more energy efficient.”

#2 Speedy and cheap transactions

On top of that, Cardano also claims to facilitate faster transfers than many of its peers, boasting about 1,000 transactions per second (TPS) in simulations, and aiming toward one million TPS, in contrast to around 8-10 TPS for Bitcoin and between 15 and 45 TPS for Ethereum (ETH).

Additionally, the cost of these transactions is reportedly much lower than lots of its competitors, amounting to an average price of $0.17 for every transaction, although Solana (SOL) is one of its peers that seems to be currently doing slightly better in this field, as it only costs $0.00025 to transact there.

#3 Peer-reviewed blockchain

Strongly advocating for the values of self-custody and decentralization, the versatile and innovative Cardano blockchain is the result of constant work by experienced computer scientists, cryptographers, and other experts to generate an advanced, peer-reviewed network with a bright future.

In fact, as Henrik Gebbing, co-CEO and co-founder of Finoa, a crypto asset custodian, pointed out:

“Its nature as an open-source and peer-reviewed blockchain helps ensure its survival and evolution beyond that of its parent organization.”

Conclusion

All things considered, crypto traders could be looking at a profit with ADA after its update, particularly as the announcement itself had triggered a bullish move, while ADA is currently trading at $0.45, down 0.66% on the day and 2.95% across the week, but gaining 5.48% in the last month, as per data on May 31.

That said, things in the digital asset industry can sometimes change on a whim, so doing one’s own detailed research and weighing all the potential risks (and coming to terms with them), as well as keeping up with all Cardano news (like the upcoming hard fork), is critical when investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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