gimbal has consistently been the subject of criticism from the larger cryptocurrency space, the biggest being its comparison to a ghost chain. While this may seem disconcerting to newbies, ADA whale, a Twitter account focused on the Cardano community, seems to know the reason for Cardano’s apparent lack of acceptance by the broader crypto community, largely dominated by Bitcoin and Ethereum.
Understand that Cardano is the third major crypto culture, will never be accepted by the first two (BTC and ETH) or Solunavax spawn-offs of the latter. Seeking their acceptance is a futile effort, we are here to create our own version of what a crypto should be
— ADA whale (@cardano_whale) July 31, 2022
He says that “Cardano remains a major crypto culture, aiming to create its own version of what a crypto should be.” Cardano is not yet listed on some top platforms such as Gemini and Robinhood, which some members of its community have expressed dissatisfaction with lately.
So more and more you get that kind of thing. Conditioned for hate, probably used to get some vague idea why. Now Cardano can do everything others can do, has superior stability/security, PoS way ahead of Eth, possibly the most educated and strongest community. Mom, I don’t like this! pic.twitter.com/Di7Tiboetx
— ADA whale (@cardano_whale) July 28, 2022
According ada whale, “The reasons why Cardano is often excluded are complex.” He continues that this “exclusion” makes Cardano stronger and self-sufficient, “Now Cardano can do everything others can do, has superior stability/security, PoS way ahead of Eth, perhaps the most educated community and the stronger.”
In the past, Cardano has faced significant criticism over its UTXO model, systematic approach to implementation, and more recently, the slow growth of Cardano’s DeFi ecosystem, as evidenced by its TVL. A common criticism of the ADA price is that, unlike the two major cryptocurrencies, it lacks extra zeros on the back.
Cardano continues to build
Currently, 1,045 projects are being built on Cardano, while 93 projects have recently launched on Cardano. The number of NFT projects is 6,304, while native Cardano tokens stand at 5.6 million. Plutus scripts are now at 2,981.
Cardano, like Bitcoin but unlike Ethereum, has a finite supply limit, with only 45 billion ADA ever created during the coin’s existence. Currently, 33.93 billion ADAs are in circulation, representing 75% of the maximum supply, and 34.51 billion ADAs have been created to date, per CoinMarketCap The data.
At press time, ADA was changing hands at $0.53, up 2% in the last 24 hours.