The latest eToro analysis featuring Cardano features the principle behind pre-coding and confirming some of the underlying pitfalls.
Just a few weeks after eToro integrated Cardano in its trading platform, the company completed an analysis of electronic money sent to us by mail.
Above all, the analysis shows that eToro is very optimistic about its development in the electronic money world.
"Although Cardano is still in the early stages of the roadmap, it is certainly one of the most promising blockchain projects we've seen. It is also the first blockchain project being developed using collective science philosophy, based on peer-reviewed scientific research, "the company said.
As such, eToro's analysis recognizes that many of the features in Cardano's roadmap are still under development or have not yet been completed. IOHK, the developer of blockchain and its software, wants its project to be "the internet of blockchains" by making it possible to interact with many other currencies.
At this point it is difficult to achieve this specific goal, as it only receives initial evaluation in its starting point.
Also, maybe calling Cardano is a project that does not represent IOHK's ambition. As a matter of fact, there are many projects in a single blockchain platform.
Although some key parts of its roadmap - including its launch of its major network and launch of smart contract tests - have been completed, most of its other projects are still under way. . This includes delegations, some clients (currently, users can only run basic nodes) and a multi-wallet account.
However, there is much hope that some goals have been achieved, as IOHK keeps the community updated on the latest developments. Since the coin was actively developed, it attracted a lot of anticipation, which, using the word of eToro.
On investing in coin, eToro emphasizes the speculative nature of Cardano from the "young" phase of the project:
"The project is still in a relatively early stage and the route is very long, so although the potential of the project is very large [...] it is important to consider that short-term fluctuations will depend mainly on speculative."
Analysis concluded by saying that
"Cardano has the potential to be a very successful project as it advances through its long and ambitious roadmap."