$ADA: Crypto Analyst Lark Davis Delivers a Backhanded Compliment to Cardano

On Friday (13 January 2023), New Zealand based crypto analyst Lark Davis managed to find a fairly unusual way to anger the Cardano ($ADA) community.

David told his one million Twittter followers:

#cardano impresses me. It has remained in the top 10 forever in spite of almost no #defi, few working retail dapps, and just 70,000 transactions per day on average. And yet, $ada holders continue to steadfastly believe in the potential of Cardano and the vision of the chain!

Thankfully, one of the most highly respected and popular members of the crypto community was quick to defend Cardano. “ADA whale” told his 124K Twitter followers:

What a strange passive aggressive tweet. We have DEXes, synthetics, multiple borrowing and lending protocols, are a pioneer in staking bonds, NFT bonds, book/music tokenisation and are a top 5 NFT market. On top of $8bn staked in an industry defining LIQUID staking PoS protocol

He also reminded Davis of one of his fabulous mega threads about the Cardano ecosystem:

On Thursday (29 December 2022), crypto analytics startup Santiment, which provides tools that make “powerful OnChain, Social & Financial analysis accessible to anyone”, commented on the 2022 development activity of the major blockchains.

Santiment said in a blog post that Cardano was the strongest blockchain by its “Developer Activity” metric

Here is how Santiment defines and explains this metric:

The development activity of a project is done in its public GitHub repositories. The work done in private repositories is hidden from the public and cannot be tracked. In Crypto, a lot of the work is done in public repositories, so this metric is available for many projects.

A developer’s time is a relatively expensive resource (especially in Crypto), so high development activity implies that: The project is serious about its business proposition; The project will likely ship new features in the future; It’s less likely that the project is just an exit scam. Simply put, Development Activity can be used to gauge a project’s commitment to creating a working product, and continuously polishing and upgrading its features.

On 21 December 2022, Cardano Foundation explained why 2022 has been a fantastic year for smart contracts platform Cardano ($ADA).

Cardano Foundation is “an independent Swiss-based non-profit that oversees and supervises the advancement of Cardano.” It is the legal custodian of the Cardano brand and it collaborates with IOG and EMURGO to “ensure that Cardano is being developed and promoted as a secure, transparent, and accountable solution for positive global change.” Cardano Foundation “sets the direction for decentralized economic empowerment, working with regulators in different jurisdictions to shape blockchain legislation and commercial standards, and empowering the Cardano community to leverage the Cardano protocol to solve real-life problems.”

Here are some of Cardano’s main achievements in 2022 mentioned by Cardano Foundation:

  • impressive on-chain growth (number of native tokens, wallets, Plutus scripts, transactions, and delegated wallets went up 192%, 47%, 394%, 139%, and 27% respectively);
  • many new partnerships and collaborations (e.g. with NMKR, UZH Blockchain Center, and veritree);
  • Cardano Summit 2022, which was held November 19-21, 2022 in Lausanne, Switzewrland;
  • taking part in 20+ events (e.g. Consensus 2022) around the world; and
  • 50 Cardano Improvement Proposals (CIPs) reviewed.

Image Credit

Featured Image via Unsplash

Source: Read Full Article

click fraud detection