Cardano's Rise: A Rollercoaster for ADA Holders
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Cardano TOPS this altcoin chart – Good news for ADA holders?
Over the past few months, there have been many areas where Cardano[ADA] has not been able to compete with other Layer 1s. However, there is one area where Cardano’s dominance has been unparalleled.
Will decentralization bring users to the yard?
According to recent findings, Cardano now has a higher Nakamoto co-efficient than the market’s other altcoins – A sign of high decentralization. The Nakamoto coefficient is a metric used to estimate the number of entities required to control 51% of a blockchain’s hashrate. A higher Nakamoto coefficient indicates a more decentralized network.
This means that the Cardano network cannot be influenced by a few large entities that dominate most of the network. A high Nakamoto coefficient can improve sentiment among crypto-enthusiasts and attract more users to the network.