ADA SCAM OR LEGIT?

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Mrcoin

Bforum Member

Cardano is one of the top 10 cryptocurrencies by market cap and the first peer-reviewed network designed to resolve frequent blockchain issues. The size of its network and the demand for Cardano coin (ADA) are testaments of the viability of its doubled layered approach to smart contracts, decentralization, and security. Do you think that it could be a scam? Let’s find out the answer.​
  • Cardano is a blockchain platform that was founded in 2015 by Charles Hoskinson. It was launched in 2017.​
  • Cardano aims to be a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts.​
  • Cardano runs on the proof-of-stake Ouroboros consensus protocol.​
  • The primary cryptocurrency of Cardano is called "Ada."​
  • Cardano oversight is decentralized and shared by the Cardano Foundation, IOHK, and EMURGO.​
As you all might know, the regulation is one of the most important checkpoints that one must look for while searching for a brokerage firm. Due to the increasing inflow of scammers in the market, the regulations set up barriers to make sure that the scammers stay away from the market.

For this, they introduced the licenses. For a company to acquire a license, it must go through a variety of tests. However, these tests are not as easy as they might sound like. If a company does not have a license, it means that the company is UNAUTHORIZED and not fit for trading. In our case, if ADA Investments is unregulated, then this raises the first red flag against ADA Investments in this ADA Investments review.

According to islamiceconomics.net: “The ADA coin may satisfy the wealth and legal value but it fails to be monetary usage because it has volatility, circulation and transparency risk. All the tokens and coins must be in line with Islamic teachings and they must have separate contracts”.

Disappointed Users - There were quite a number of replies that revealed users’ disappointments. Some noted difficulties attached with swapping tokens. For instance, transactions fail messages due to blocks using several resources. Clients had to wait 20 to 40 seconds in order to retry the process. Others protested over the public test phase which was only a few hours away. Several other networks had already gone ahead to perform the public test.

For effectiveness and efficiency, applications should go through the test phase. The complexity aspect is usually very high especially when it comes to huge projects. As a result, more issues and errors arise when you test software. This may take some time before getting a suitable architecture.

Still in development - Cardano’s drawbacks include the fact that its blockchain is still under development. Many important features such as scalability are still being developed, although progression is steady. Ethereum is also developing scalability improvements through sharding, and that is a key threat of Ethereum against Cardano.

Lack of developer interest - Based on Electric capital's developer report, Cardano was one of the slower growing developer ecosystems with a growth of just 90% compared to other ecosystems, such as Solana and Near which both grew over 4x in developers even though they hold a smaller market cap than Cardano. This lack of developer interest could be due to the complex programming language of Haskell, and can be seen in the low TVL that they have acquired since launching DApps.

To sum up, all that has been said above, we give you the power to decide whether ADA is a scam or not. We request the readers to move forward with extreme caution. If you have been a victim of ADA scam or any other broker, do not feel embarrassed. Leave a comment at the comment section below.
 

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