Today, we’ll look into some of the big names entering the crypto space. This will be pretty interesting to watch, and it makes us curious whether these big names have the potential to affect the crypto space in any way. We’ll also look into some of the huge Cardano updates and the ADA price prediction.
In one of our previous blogs, we’ve uncovered Walmart’s interest in the crypto space. This was following the filing of multiple trademarks by the company towards the end of last month, hinting they’ll be creating their own cryptocurrency, and creating and selling their own NFTs.
Something more interesting is the major potential entry of Google into the crypto space. According to the recent Bloomberg report, Google’s president of commerce has reportedly revealed that crypto is something that they pay a lot of attention to.
Although not much is known about Google’s participation in the crypto space, they’re, so far, focused on “blockchain and other next-gen distributed computing and data storage technologies”.
YouTube is reportedly another one of the major companies to be considering the crypto space. The CEO of YouTube, Susan Wojcicki, mentioned NFTs in an annual letter to creators. The letter makes clear that YouTube is focused on ways to expand the ecosystem to help creators capitalize on emerging technologies, including things like NFTs.
Moving on, Cardano has been seeing some growing pains recently as it just got its first DEX – SundaeSwap. Since the launch of SundaeSwap, a lot of things have been down. Many of the users have encountered one of the multiple issues reported to date. One of the common errors is “Mempool full, retry later”. This is due to the limited size of the Cardano Mempool, which is currently 128 KB.
The congestion in the Cardano network also suggests its fast-paced growth. The number of unique smart contracts on Cardano is about to reach the 1000 mark, the latest update being 996 unique smart contracts as of January 25.
The number of smart contracts on the Cardano platform was reported to be 888 in December, so that puts Cardano to be starting to reach the 100 mark of unique smart contracts every month. That’s really fast and hugely speaks for the dApps growing on top of Cardano.
In other news, we’re reported Cardano’s average blockchain load hits an all-time high. As of January 22, 2022, Cardano’s average blockchain load went up to 94.49% in light of its recent developments. In inclusion of smart contracts functionality has contributed really well to Cardano’s activity rate.
The interesting fact here is that the average blockchain load has not only spiked to an all-time high but has managed to maintain a steady flow of over 90% ever since the all-time high.
In contrast, Cardano has reported both higher volume and over 500 times cheaper fees than Ethereum. This is one of the reasons why Cardano is successfully a better cryptocurrency than Ethereum.
Finally, we have the price prediction for ADA. According to different analysts, Cardano is set to potentially rise up to $2.20 as early as March. With all these new developments and milestones, we believe Cardano can really rally up to this point. Please do keep in mind that this is strictly not financial advice but a personal opinion reflected on the analysis of the cryptocurrency.
Smart Contracts Made Easy (SCEZ) is a tool from us that lets you create NFTs and smart contracts. While the congestion on the Cardano blockchain has certainly hit us, we’ve managed to fix things through the process and we’re seeing everything get fixed in roughly 24 hours.
SCEZ is a friendly tool to create smart contracts, NFTs, native tokens, and Cardano blockchain transactions. It’s a complete REST API solution for crypto developers, enthusiasts, and entrepreneurs. So if you have something that needs to be built, we do the heavy work and make things easier for you.
If you’re interested in SCEZ, do take a look and start creating NFTs easily with SCEZ, in under 5 minutes!
Thank you for sticking with me to the very end. We hope this has been valuable information to your journey with Cardano. You can follow our blog or YouTube channel to stay updated about cryptocurrencies as well as about our SCEZ tool every day. We have step-by-step video guides on our YouTube channel on how to create smart contracts and NFTs easily with SCEZ. We have a lot of interesting updates lined up with a robust roadmap that’s ready to change the game for you!
If you’d like to learn more about the latest Cardano updates, kindly check out the video below: