As the ADA community awaits the next major update, the Chang hard fork, scheduled for the end of June, traders may want to use the remaining time to accumulate this popular coin and strengthen their positions ahead of the bullish rally that the upgrade could trigger.
In fact, Cardano is preparing for the Chang hard fork to strengthen governance, improve functionality and responsiveness in a bull run, and officially mark the completion of the Voltaire phase of the Cardano roadmap, which also includes the drafting of the Cardano Constitution in Buenos Aires.
Earlier this year, Cardano founder Charles Hoskinson announced this upcoming event, and there are three important reasons to invest in the coin, which recently beat Toncoin ( TON ) and Shiba Inu ( SHIB ) to become the ninth largest asset by market capitalization in the cryptocurrency space.
Firstly, Cardano is one of the most environmentally friendly blockchain systems in terms of reducing the impact of its operations on the environment, 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 a 2021 interview that Cardano is "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 is the PoS algorithm:
"The advantage of proof of stake is that because you don't have to spend a huge amount of overhead and energy deciding who creates a block, it means you can put a lot of the magic in the other two stages. So you end up with a lighter, more energy-efficient protocol."
In addition to this, Cardano also claims to have faster transfer speeds than many of its peers, processing about 1,000 transactions per second (TPS) in simulations, with a goal of achieving 1 million TPS, while Bitcoin's TPS is about 8-10 TPS and Ethereum ( ETH )'s TPS is between 15 and 45 TPS.
These trades cost much less than many of its competitors, with an average price of $0.17 per trade, although Solana ( SOL ) is one of its peers that currently appears to be doing slightly better in this area, as the cost of conducting a trade there is just $0.00025.
The versatile and innovative Cardano blockchain is a strong advocate of the values of self-custody and decentralization, and is the result of the ongoing efforts of experienced computer scientists, cryptographers, and other experts to build an advanced, peer-reviewed, and promising network.
In fact, as Henrik Gebbing, co-CEO and co-founder of crypto asset custody company Finoa, noted:
“Its nature as an open-source and peer-reviewed blockchain helps ensure its survival and growth beyond its parent organization.”
Buying ADA now after the update could be profitable, especially since the announcement itself triggered a bullish move, and ADA is currently trading at $0.45, down 0.66% on the day and 2.95% on the week, but up 5.48% in the last month according to data from May 31.
