Mike Novogratz Says He Holds no Cardano Position Despite Calling its Followers “Passionate”

By Godfrey Benjamin
Published August 17, 2021 Updated August 17, 2021
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Mike Novogratz Says He Holds no Cardano Position Despite Calling its Followers “Passionate”

By Godfrey Benjamin
Published August 17, 2021 Updated August 17, 2021

For those who have been following the events in the blockchain ecosystem, the events around Cardano (ADA) is one of the most talked about at present. Infact, Cardano related topics have trended on Twitter several times this month as the anticipation surrounding the potential debut of the Alonzo Upgrade which will usher in smart contract functionality into Cardano is just a few weeks away.

Industry top investor, Mike Novogratz has highlighted the reactions of the Cardano community to this events, calling the blockchain followers “Passionate.” While Cardano has proven to be a strong blockchain protocol with prospects, Novogratz says he believe there are other layer 1 alternative bets that Terra (LUNA), and Solana (SOL) which he would rather bet on.

As expected, the Cardano community were unpleased with the stance, and many showed this in their responses to the tweet.

Blockchain Protocols Should Interoperate and Not Compete

The whole essence of blockchain technology is to revolutionize every aspect of digital technological advancement as it borders on finance, record keeping, and more. Various protocols existent in the ecosystem today all seek to solve almost the same problems, albeit, in different ways.

Today, there appears not to be a single protocol that is a hundred perfect superior to another. However, while the majority of protocols shows differences in their blockchain design, capabilities, and ecosystem uniqueness, there appears to be ways in which these differences can be surmounted through interoperability.

The underlying blockchain technology already makes it easy for two or more blockchains to work together through customizable interoperability protocols. Rather than compete with one another, blockchain protocols can find a way to work together in a complementary way, thus showcasing a unifying strength that can foster a mainstream adoption.

It is ideal for investors to tilt towards some tokens associated with these blockchain protocols based on their superior tokenomics and current adoption, however, the world of blockchain will do very well when blockchain protocols work together rather than compete.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Godfrey Benjamin
177 Articles
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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