Since 2013, the Cardano Foundation has been actively promoting the proof-of-stake network worldwide, functioning as the Cardano blockchain’s corporate arm and legal manager. Consequently, according to Forbes, they have been recognized as one of the world’s top-performing blockchain ventures.
Cardano Is Regarded As One Of The Most Successful Blockchain Initiatives
Several blockchain firms were acknowledged in the CV Labs Global Report 2022, published by the Swiss-based crypto venture capital and private equity firm in Zurich.
The Cardano Foundation experienced one of the most significant increases in valuation among the more than 50 essential cryptocurrency companies in Switzerland, dubbed the “Crypto nation.” The cryptocurrency company was valued at $43.8 billion in 2021, placing it third in the world after only the Ethereum Foundation and the Solana Foundation.
According to the study, the development of the Cardano blockchain and the rise in the price of ADA were both factors that contributed to the foundation’s outstanding performance.
“Cardano has witnessed massive price increases…, and it offered intelligent contracts on its network in the third quarter of this year.” This year’s project will continue to be research-intensive, with numerous innovative ideas and a commitment to peer review, says the report.
On the same note, the Cardano Foundation’s operations are tied to that of the Cardano blockchain. Since becoming the guardians of the Cardano network, the Cardano Foundation has made multiple significant measures to influence crypto legislation, grow and educate the Cardano community, and establish new ties with other enterprises.
Thanks to the work of the Cardano Foundation, the Cardano ecosystem has continued to thrive throughout the past year. It has formed collaborations with both the University of Zurich and EMURGO. In this way, it continues a pattern that began last year when it announced many partnerships, particularly during the Cardano Summit.
Another good year in 2021 was had by other blockchain firms formed in the country. As of 2021, the entire market capitalization of all crypto companies headquartered in Switzerland has hit a new all-time high of $611.8 billion, increasing from $108.4 billion in 2020.
$ADA Ecosystem Advancement
Numerous indicators exist in the Cardano ecosystem, pointing to the cryptocurrency’s continued expansion. As of 2022, the Cardano blockchain has seen a flurry of development, encompassing anything from decentralized applications to cross-bridge platforms and new financial technologies (NFT).
Charles Hoskinson, the founder of Cardano and CEO of IOG, has voiced increased confidence in the number of projects hosted on the blockchain following the June Vasil hard fork due to this development.
In response to the increased activity, the value of Cardano’s native cryptocurrency, ADA, has also increased. The value of ADA has increased by 31.5 percent over the previous month. On the other hand, Bitcoin is currently trading at $1.07, representing a loss of 10.56 percent on the trading day.
