• Quanstamp auditing firm has said that Cardano will overtake Tezos to become the second-largest DeFi platform.
  • Quanstamp CEO noted that Cardano as some of the best code in all of the blockchain space.

Blockchain security auditing firm, Quanstamp, said that Cardano will become the second-largest decentralized finance (DeFi) platform, following Ethereum. The CEO of Quanstamp, Richard Ma, believes that Cardano has some of the best codes in all blockchain spaces. He said that it’s parallel to ETH 2.0’s Prysm, according to a Cointelegraph report.

Commenting on the recent Shelley hard fork, Quantstamp communications manager, Jaye Harrill, said that Cardano will become the second-most popular smart contract platform by the end of 2020. Harrill added that he feels Cardano “dwarfs” Tezos as a proof-of-stake blockchain. 

The move to the Shelley era means Cardano will be the second most popular smart contract platform, second only to Ethereum by the end of the year. As a proof of stake system, it now dwarfs Tezos.

Just recently, Charles Hoskinson, the CEO of IOHK (the firm behind Cardano), replied to a tweet by EOS founder Daniel Larimer. Hoskinson said that by the end of the year, smart contracts and native assets are coming to the platform along with low latency. 

ADA/USD daily chart

ADA/USD daily chart

ADA/USD bulls remained in control for the third straight day and the price is consolidating in a pennant formation. It’s current priced at $0.1443. The Elliott Oscillator has had seven straight red sessions. The price has one strong resistance at $0.1487. On the downside, we have healthy support levels at $0.134 (SMA 20), $0.117 and $0.114 (SMA 50). 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin difficulty ribbon flashes buy signal

BTC is trading around $10,715 and sitting on top of the $10,700 support level. The buyers need to do everything that they possibly can to defend this level. If the sellers break below this level, the price can plummet to $9,700 before it meets another healthy support.

More Bitcoin News

BNB could retrace to $25 in the short-term despite uptrend

BNB outperformed the market during September jumping to $33 after several positive announcements from Binance. The rally didn’t last too long, and the digital asset quickly fell to ...

More Binance News

Chainlink Price Analysis: LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve. This indicates that LINK is presently in a ...

More ChainLink news

Theta Price Prediction: THETA poised for a healthy pullback before resuming uptrend

THETA has been trading inside a robust uptrend for the past four months and hit a new all-time high at $0.76 on September 28. Its market capitalization has grown from $46 million on March 16, to a current high of $640 million.

More Bitcoin News


Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast