Quote:
Originally Posted by Biggie Smalls Web Writing
Please explain yourself..
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I'd be happy to.
So the Cardano team, lead by Charles, has supposedly spent six years now developing their platform. They launch smart contract integration in the next week or so. This is supposed to be a huge deal, if you believe the hype. Smart contracts on ADA will take the ecosystem to a whole new level, and this should be bullish news, right?
Here's the problem: DEXes and dApps build on Cardano can only have one TX per block. They have not yet fixed this problem, despite insisting that they are rolling out smart contract integration next week. How can you have smart contracts if each application can only have 1 TX per block?! It's not possible. It means every successful transaction will be accompanied by hundreds of others that fail, pissing all those people off.
I suppose they still have time to fix this before next week, but if they haven't solved it in 6 years, how will they do it now, that quickly?
As usual in crypto and financial markets: buy the rumor, sell the news. If you rode ADA up to all time highs on the hype, it may not be a bad idea to look into selling it, or at least taking some profits, before the smart contracts go live. My expectation is there will be an initial run up on the announcement, followed by a significant dip after people realize it doesn't do what other L1's and EVMs can do.
SOL, on the other hand. Holy shit they are building out a great UX and they have more money than god on that team. I have no vested interest in them other than being casual friends with SBF, but I think they are going to do big things.
Still think ETH is king though, especially once gas prices eventually start coming down.