Cardano on hiring spree as it prepares to take the smart contracts throne from Ethereum

  • Cardano is on the verge of disrupting the smart contract and NFT market, with its network costing just a mere fraction of the charges on the larger Ethereum network.
  • Data reveals that Cardano has overtaken Ethereum and Polkadot in average daily development activity on Github, spurring even more hires to stay in the lead.

It is an exciting time for Cardano and its entire community. The network has topped as the blockchain with the highest average daily development activity on Github. Ethereum is fourth behind Kusama and Polkadot. The team has recognized the new interest and is looking to stay ahead by growing and expanding the team behind it.

Tim Harrison, the marketing and communication director of IOHK, the company behind Cardano, has shared this exciting update on Twitter. Among the vacant positions include strategy consultant, Java consultant, strategic pricer and consulting lead.

NFTs coming to Cardano

Cardano’s Ethereum killer narrative is making a comeback following recent developments on the network. In Cardano’s next upgrade, Alonzo, the platform will introduce infrastructure and tools to develop smart contracts. The last update, the Mary hard fork, allowed for native tokens to be deployed on the Cardano blockchain.

Cardano has been adaptable to the ever-changing industry. With the rise of NFTs, developers are able to mint and sell NFTs on the network even without deploying smart contracts. The non-fungible token cost is the same as the blockchain’s native price.

Competing with Ethereum, Cardano has learned from the mistakes made by its competitor. As such, Charles Hoskinson and his team are keen on ensuring the network is scalable and cheaper to transact on.

Ethereum is not taking the challenge lightly. Just recently, it completed the Berlin upgrade. In the next few months, it is scheduled to undergo the London upgrade as it approaches the full rollout of Ethereum 2.0, primarily designed to reduce gas fees and improve scalability.

As we reported previously, Hoskinson believes there is huge potential in Africa. In Ethiopia, the team is working closely with the government to bring innovative reforms.

ADA price update

Cardano’s native token ADA, last week reached an all-time high of $1.56. This successfully saw it climb to 7th in the market ranking. Earlier in the year, the digital asset had climbed to fourth but exceptional performances from Dogecoin and XRP have seen it drop a few spots.

Analysts expect the upcoming update will inspire another rally. However, the token is currently being dragged down by the current bear trend cutting across the entire market.

At the time of press, ADA is down by 11 percent and it’s exchanging for $1.16. The $1 position is a key psychological support level that could trigger a dramatic sell-off if breached.

About Author

John Kiguru is an astute writer with a great love for cryptocurrency and its underlining technology. All day he is exploring new digital innovations to bring his audience the latest developments.

Comments are closed.