Cardano (ADA) Enters Voltaire Era, Founder Charles Hoskinson Highlights Innovation Over Price

Charles Hoskinson's layer-1 blockchain Cardano recently entered the Voltaire Era and introduced on-chain governance using its native token ADA.

Cardano’s native token ADA has slipped out of the top 10 digital coins once again, despite the blockchain platform's recent entry into the Voltaire Era and the introduction of on-chain governance.

Cardano positions itself as a more advanced blockchain platform than Ethereum and other smart contract platforms, offering a peer-reviewed academic methodology and a more sustainable and scalable solution. However, despite this, ADA has underperformed compared to other layer-1 blockchains.

According to a crypto analyst, ADA is now “a shadow of its past glory,” having failed to generate strong bullish momentum. In contrast, other layer-1 blockchains, such as Solana (SOL), Ether (ETH), and BNB, are leading the current bull rally. Notably, SOL has overtaken ETH in leading bull rallies.

Old-guard Layer 1s: who's leading the charge? ?

– SOL has taken ETH's spot in leading bull runs, but in this one is sharing the spotlight with ETH and BNB.

– ADA and DOT are lagging, a shadow of their past glory. Expect this trend to continue as stronger projects gain market… pic.twitter.com/9GynReOkEs

ADA currently ranks 11th among the cryptocurrencies tracked by CoinGecko, with a market capitalization of around $12.3 billion.

Focus Beyond Price Charts

While investors tend to be fixated on price, Cardano founder Charles Hoskinson is more concerned with innovation. He recently highlighted an upcoming “long-overdue” protocol upgrade that could significantly improve Cardano's handling of transactions and smart contracts.

Over the years, several Cardano products have been developed to address real-world issues and contribute positively to society. For example, Emurgo Africa aims to foster blockchain innovation on the continent.

In a recent development, the first legally and judicially enforceable contract on the Cardano network was signed in Argentina, following the laws of its courts. This achievement could pave the way for Argentine courts to recognize smart contracts as a technology for streamlining commercial agreements.

Meanwhile, Hoskinson has suggested that a price increase in ADA could resolve all of Cardano's long-standing problems.

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