Top Five Important DON’Ts of Cardano in 2022 and Beyond

Cryptocurrencies like Cardano are fascinating but there are always a few don'ts attached with investment

Mooning memecoins, crypto crashes, and squid game scams are dominating the crypto news cycle. This inevitably means that updates from platforms like Cardano get relegated to the back pages of the figurative crypto newspapers. When you combine this problem with the crazy hype around crypto on social media, the result is a lot of misconceptions about what it actually is and aiming to do. This article features the top five crucial don'ts of Cardano in 2022 and beyond.

Don't compare Cardano to Ethereum, Solana, and the other blockchain platforms.

In many ways these cryptocurrencies are similar but it is wrong to compare Cardano with other blockchain platforms. Because there are differences, for instance, all crypto coins use different consensus mechanisms for transactions. It relies on a novel proof of stake consensus mechanism called Ouroboros. Whereas, Ethereum is still using proof of work to process transactions on its blockchain.

Don't forget, Cardano is focusing on real-world blockchain applications in the developing world.

Cardano is an open platform that seeks to provide economic identity to the billion who lack it by providing decentralized applications to manage identity, value, and governance. Whereas, Solana aims to support all high-growth and high-frequency blockchain applications and to democratize the world's financial systems.

Don't expect Cardano to start rushing to bring out new features.

If you look at Ethereum you can see that it is going at a fast speed. But on the other hand, It has taken a completely opposite approach. Founders of Cardano decided early on that every new feature will be submitted for academic period review. Which is a time-consuming process. Therefore, don't expect it to rush to bring out new features.

Don't Forget to Stake

Staking is one area where Cardano is the king of all cryptocurrencies. Staking is just locking up cryptocurrency in order to reap the benefits. Proof of Stake (PoS) is an important concept to learn before diving into the world of staking.

Don't think that because Cardano is a slow and steady, peer-reviewed project its developers are a bunch of stuffed shirts.

Want some proof? Recently, Cardano announced an electronic dance music collaboration, which was predicted by no one. Oakenfold's NFT drop, titled Zombie Lobster, is a project that's been harnessed with Charles Hoskinson, founder of Cardano and one of the early prominent figures in Ethereum's build-up. All the elements of the album from cover art to tracks will be assimilated into the ADA (Cardano) blockchain.