Avorak AI and Cardano focus on scalability for overall growth
Ethereum is an example of a step forward in technology. As the first new public ledger smart contracts platform, the ability to ‘transact’ on top of a public ledger took off, attracting billions of dollars of value to the network. As everyone saw though, as the usage of the network went exponential, so did the fees, at over $300 to make one transaction pricing out the majority of crypto users. This is a perfect example of how scalability directly affects the users you want on the platform. Can Cardano and Avorak overcome these challenges?
Cardano Smart Contracts
Cardano launched their smart contracts in 2021 to significant pre-release hype and subsequent post-release disappointment. The transaction throughput performance was atrocious, and transactions took hours to reach finality. Another example of cryptocurrency not reaching the heights of expectation. At the time, ADA had reached a peak of $3.10, up from a 2020 low of $0.02, a wild 150x from the bottom!
With such a fast and artificial push from the bottom based on this ‘Ethereum Killer’ expectation, it is no wonder that ADA lost more than 90% of its valuation from that top.
While Cardano continues to work on their smart contracts, over 5000 smart contracts have been launched on the network, likely in anticipation of future scaling improvements. Until these improvements are implemented, though, the network is as good as useless for smart contracts and can only exist in its original form for transferring the ADA coin as a transfer of value.
Avorak AI – AI Crypto To The Top 50?
Avorak is working on something very different from many other crypto projects.
The project is intending to launch a series of products starting with trading bots, then moving into image and text generators, followed by a chatbot that can be integrated into the previous products for a command-line style interaction. This can be compared to a few other projects already existing, but with the roll-up and cross-integration, it would put Avorak several steps ahead of these other ‘well-known’ products.
The biggest part of this project, which is hiding in the depths of the whitepaper, is the blockchain product that uses a modified version of the proof-of-work system, where validators will finalize transactions based on the work done to improve the AI product with self-learning. This remarkable system will create a truly decentralized AI platform, where self-improvements to the AI are facilitated using validator processing and storage power. This is the perfect solution for scalability, as the more validators that onboard, the bigger the product can come, and then the more interesting the project becomes to new validators. A perfect positive feedback loop.
With AVRK holders gaining a share of the revenue that comes in from using their products, it is likely this project could break out into the mainstream and be the next ‘big performer’ of crypto and take Twitter and a wider general audience by storm.
With the ICO past its halfway point and stages reaching sell-out already, there is likely only limited time for investors to jump on board before the launch arrives, which is already planned for four exchanges already.
Disclaimer: This is a paid post and should not be treated as news/advice.