A mere few weeks after eToro included Cardano in its trading platform, the company completed an analysis on the cryptocurrency sent to us via correspondence.
All in all, the tone of the analysis shows that eToro is very optimistic about how much promise it holds in the cryptocurrency world.
“Even though Cardano is still in the early stages of its roadmap it is definitely one of the most promising blockchain projects we’ve ever seen. It is also the first blockchain project that is being developed using a collective scientific philosophy, based on peer-reviewed scientific research,” the company said.
Promising as it is, eToro’s analysis admits that many of the features in Cardano’s roadmap are still either under development or unfinished. IOHK, the company developing the coin’s blockchain and software, wants its project to become “the internet of blockchains” by implementing interoperability with a variety of other coins.
At this point, it is far from achieving this particular goal, as it only receives a passing mention in the introductory section of its roadmap.
Also, to call Cardano a project doesn’t do IOHK’s ambition justice. It is, in fact, a large amount of projects in one single blockchain.
Although some of the important parts of its roadmap—including the launch of its mainnet and the launch of smart contract testnets—have been finished, a majority of its other projects are still on the backburner. This includes stake delegation, a light client (currently, people could only run full nodes), and a multi-account wallet.
Still, there is a lot of hope that many of these goals will be achieved, as IOHK consistently keeps the community up to date on the latest developments. Since the coin is actively developed, it still holds plenty of promise, using eToro’s words.
Regarding investment in the coin, eToro emphasizes the speculative nature of Cardano due to its youth as a project:
“The project is still in a relatively early stage, and the roadmap is very long, so although the potential of the project is vast [...] it is important to consider that the short-term fluctuations will depend mostly on speculation.”
The analysis concludes by saying that “Cardano has the potential to become a very successful project as it progresses through its long and ambitious roadmap.”
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