As It Completes Its Alonzo Network Upgrade, Cardano Founder, Charles Hoskinson, Says Crypto Ecosystem Needs A “Wi-fi Moment.” What Does It Mean For The Future Of Cryptocurrency And Your Investment Strategy?

Cardano upgrade

Cardano has just completed its long-awaited systems upgrade that would allow it to process decentralized finance (DeFi) applications. This is an important development as it means that Cardano is now a smart contract infrastructure as much as Ethereum which allows it to host decentralized financial applications and tokens.

"Wi-fi Moment "

As Cardano achieves this important milestone, however, its founder, Charles Hoskinson, doesn’t believe that the future of blockchain should be dominated by a single network. Instead, he foresees an “internet of blockchains” that is interoperable. In a recent interview, Charles Hoskinson expressed the hope that the crypto ecosystem would reach a “wi-fi moment.” But what does he mean by a “wi-fi moment”? In his own words, "Of course we compete under the hood, and businesses, governments and people who care about these things will care about them. But at the end of the day, if it's going to work for everybody, we have to have that 'wi-fi moment' where it's consumer friendly, and it just works on your phone and you can just set a transaction, you can seamlessly move between things.” He continues, “You're not asking - 'is this a Samsung router? Is this an Apple router?' and my hope is, that's what's going to happen in the industry, where Cardano is infrastructure, Ethereum is infrastructure, bitcoin is infrastructure.” .

“Ethereum-killers”

Cardano is one of a few networks that have been tagged as “Ethereum killers,” such Poldakot, Avalanche, and Solana. So far, Ethereum is not only the biggest rival to bitcoin, but it has also been the dominant winner in terms of revolutionary smart contracts that can power different DeFi applications, including NFT arts. These are smaller and faster blockchains that can host decentralized finance applications. And these have all seen their respective tokens rise dramatically in price in recent months. The market sentiment is that as these networks acquire smart contract capabilities to host DeFi apps and tokens, they may chip away at Ethereum’s lead, and perhaps even overtake it. Hence, they are often called “Ethereum killers.”

So, what Hoskinson is getting at is that Cardano’s upgrade to Defi capability is not merely about overtaking Ethereum, as it is about having an “internet of blockchains” where it is easy for users to easily go from one infrastructure to another; the “wi-fi moment” where the blockchain network hosting an application is not more important than the application itself. The same way that getting internet access is more important to a user than which brand/manufacturer built the router.

Investment opportunity

As a crypto investor or potential investor, you are probably wondering, ‘what does it mean’? Keeping it simple and direct, what it means is that these few blockchains that have successfully upgraded to DeFi capabilities have a good chance of doing well as more financial applications can be developed and deployed through their networks. If you are looking for viable and profitable alternatives to Ethereum (and bitcoin) and altcoins with the most potential for growth to invest in, then, these blockchains and their tokens are a good place to start. Processing transactions are often faster and cheaper on these emerging networks compared to Ethereum. So, let's go straight to your investment questions:

Is Cardano a good investment?

Yes. With the completion of its upgrade, the price of its token will continue to grow. Some of analysts are not just talking the talk, they are also buying and holding Cardano and similar tokens.

Is Solano a good investment in 2021 or 2021?

The analysts here at AlphaFinace.News believe that solano is good investment to buy and hold for long term returns.

Is Poldakot a good investment?

Yes, it is. In fact, its price, like the token of the other smart contract blockchains, has been growing recently. Our analysis is that it is a good crypto investment for the long run.

Is Avalanche a good crypto investment?

Yes, it is. Majority of the analysts we have interviewed agree that it is a good investment. It is a great token to buy and hold.

List of reliable exchanges to trade cryptocurrencies

If you are new to crypto world or if you want to explore safe and reliable crypto exchanges where you can buy and sell cryptocurrencies, make sure to check this analysis on the top 10 platforms and exchanges to trade cryptocurrencies. As always, be sure to do your own due diligence - it's your money and your future.

And of course, crypto investment is very risky. Never invest any amount amount of money you can not afford to loose. Read this report, compiled by one of top analysts, BEFORE you start investing in crypto, even if you are an experienced investor.