The crypto world suffered massive setbacks in 2022, with bearish conditions torpedoing crypto values across the board. The market downturn, in particular, disproportionately affected digital assets without utility.
Established cryptos like Cardano (ADA) and Solana (SOL), for instance, skyrocketed then stagnated in development and innovation, leading to token prices sinking and investors disinterested. Smaller market cap cryptos with solid fundamentals and real-world utility, like recently-launched Uwerx, present better opportunities than Solana (SOL) and Cardano (ADA) in 2023.
Cardano (ADA): Promises Alot, Delivers a Precious Little
Cardano (ADA) is a smart contract platform launched by former Ethereum co-founder Charles Hoskinson in 2017. However, despite the massive hype and promise, Cardano (ADA) has delivered very little on its potential. For instance, Cardano (ADA) may use less energy than other proof-of-work blockchains, but it’s significantly less secure and decentralized.
Cardano (ADA), despite the big talk from its devs, has failed to develop anything close to resembling a robust decentralized finance offering despite its considerable value and size. In 2023, Cardano (ADA) will face stiff competition from better and faster layer 1 platforms and layer 2 scaling protocols. Are Cardano (ADA) investors facing a torrid year? You bet.
Solana (SOL): Facing a Long Road to Recovery in 2023
As the month ends, Solana (SOL) looks like good value to bounce back after facing tremendous selling pressure after the FTX collapse and the subsequent Alameda implosion. However, a segment of investors remains skeptical about the lack of decentralization supporting the Solana (SOL) network. Despite its claims to the contrary, Solana (SOL) power is concentrated on a select cabal of validators, raising red flags about how centralized the Solana (SOL) blockchain actually is.
Much of Solana’s throughput relies on this centralized group – and the frequent reports of outages, besides security incidents, demonstrates the unreliability that such degree of centralization can result in. Moreover, a majority of Solana (SOL) tokens are held by the team – a major red flag about decentralization. With the price action, security incidents, and poor outlook, investors are advised to avoid Solana (SO
Go to Source to See Full Article
Author: Crypto Daily
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
