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Creation of Cardano Blockchain Investment Company
Summing up the important events of the past year, EMURGO also mentioned the launch of the Cardano investment fund. A press release announcing its launch was issued at the end of September. The $100 million fund was aimed at investing in startups in the early stages of development and growth, as well as creating socially relevant solutions based on Cardano. At the same time, the company announced that the newly created Cardano blockchain fund will consist of two separate structures: EMURGO Africa and EMURGO Ventures. Each of them will put forward its own investment thesis.
At the moment , EMURGO Africa has already announced the conclusion of two large and significant contracts . They aim to spread the use of the entire Cardano ecosystem, as well as the business networks of their industry giant partners. At the same time, EMURGO Ventures announced its first seed investment in Milkomeda . The project is a dcSpark sidechain. It combines Cardano and other layer 1 blockchain protocols and also uses the wrapped ADA (wADA) token as an asset. Ken Kodama, head of EMURGO's commercial division, shared:
“The main priority now is the development of the Cardano blockchain ecosystem. We plan to accelerate the development of a network with a large number of decentralized services. This approach is necessary because blockchain serves a global community that is constantly growing and evolving in blockchain awareness. EMURGO is committed to meeting this demand by providing the capital and strategic resources needed to rapidly scale our portfolio companies and deliver new solutions for Cardano.”
Cardano competing with Ethereum 2.0
Today, Ethereum is the dominant player in the smart contract market. However, the Cardano team believes that upcoming updates will make the project a technically more advanced network than Ethereum. Moreover, even after Ethereum transitions to state 2.0, Cardano will still be ahead of Vitalik Buterin’s blockchain in many respects.
Hinrich Pfeiffer, secretary general of the non-profit Cardano Foundation, told Cointelegraph that the team hopes Cardano's "value proposition" will prove popular with firms and attract institutional investment. Indeed, in addition to scalability, large investors may be attracted by the high level of security of Cardano. Pfeiffer believes that “Cardano can take a completely different market share than Ethereum” - this blockchain ecosystem can be used at the government level for user identification and document flow, as well as in financial infrastructure and large businesses.
We have been hearing about numerous Ethereum killers for many years. Binance Smart Chain, EOS, NEO, and TRON, among others, have claimed this role. However, Ethereum is still the main blockchain for running smart contracts, and Ether is almost always the second coin in terms of capitalization.
We think the Cardano team is being overly optimistic. The project is still in the development phase of key updates. It develops, although thoroughly, but very slowly. Despite the fact that the project started in 2015, smart contracts will only now be added to the network. So far we see a lot of promises and promising developments, but the functionality of Cardano is still very far from the current capabilities of Ethereum.
The team is confident that there will be no problems with the launch and transition to the next stages of updates, but this also seems too presumptuous - there are always difficulties. In the end, Vitalik Buterin also did not intend to stretch out the preparation for the Ethereum 2.0 update for several years, but everything turned out to be more complicated than expected. But Ethereum is the most actively developed blockchain protocol.
We think it will take Cardano several years to fully launch and configure all updates. During this time, the Ethereum upgrade to state 2.0 should be completed. As a result, on the one hand, we will have a project whose full functionality has just launched, and on the other, a project with a developed infrastructure, a huge army of users and developers, as well as a capitalization that is several times higher than the competitor’s valuation. We think Ethereum shouldn't worry.
However, it is worth noting here that Ethereum will still lose its monopoly position - several platforms will compete in the market. We believe Cardano will be one of the strong players.
Verified Cardano Paper Wallet Generator
A Paper Wallet is a piece of paper on which the private key or Seed phrase is printed, as well as the wallet address. Of course, when storing cryptocurrency, there is no connection to the network (“cold storage”), so this type of wallet is one of the most secure.
You can create a paper wallet absolutely free. This is its main advantage over a hardware wallet, which can cost 10-15 thousand rubles.
On the other hand, you cannot send cryptocurrency from it (only store and accept coins) - to do this you will have to import the private key, converting the wallet into another type of storage (for example, a software wallet).
To create a paper wallet, special services are used - Paper Wallet generators. To create a Cardano wallet, you can use the official Daedalus platform.
Algorithm of actions:
- In the Daedalus program you order the creation of a new paper wallet;
- The program generates a Seed phrase of 27 words. At this stage, this key is stored in the program memory;
- The system creates a file (PDF) containing 18 of the 27 words of the Seed phrase. You can save this file on your computer or print it directly to a printer. At this stage Daedalus does not show these 18 words on the screen;
- The program displays the remaining 9 of the 27 words on the monitor - you can write them down directly on the printed wallet or on other media;
- An optional step is checking the Seed phrase. To make sure you wrote everything down correctly, the system will prompt you to enter all 27 words. You can skip this step if you wish, because... in this case, all words will be displayed on the screen;
- Daedalus will generate for you a new wallet address and a link to it on the Cardano blockchain.
The printed paper wallet should be laminated (this will protect against mechanical damage) and folded along the fold lines.
Best mobile wallet
If you are interested in a secure yet convenient and portable wallet, you can choose a mobile storage software. This is a regular mobile application that stores private keys on the user's device.
One of the best mobile wallets for Cardano is Infinito Wallet. It is suitable for Android and iOS smartphones. Inside the wallet, you can store more than 2 thousand tokens, including ADA and other variations of Cardano on the Ethereum blockchain (for example, ICardano, CardanoGold, Cardano Dark, etc.).
In addition to storing, receiving and sending coins, the wallet supports additional functions. For example, you can exchange cryptocurrency within it.
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