Cardano becomes the most recognizable crypto project in 2022

The blockchain platform brand has overtaken bitcoin by 4 points in terms of recognition, ranking 26th

29.08.2022 - 13:15

895

2 min

What’s new? According to a 2022 report by marketing company MBLM, blockchain platform Cardano is the most recognizable cryptocurrency project, ranking 26th among the 600 brands surveyed from 19 areas in the global rankings. Meanwhile, the cryptocurrency industry as a whole made it into the top 10 most recognizable areas, ranking eighth.

Report by MBLM

What else does the report say? The ranking methodology takes into account the emotional closeness of users to the brand based on online mentions and a number of other parameters. MBLM used artificial intelligence and a large amount of data to calculate it.

According to Cointelegraph, bitcoin ranked only 30th, while decentralized exchange (DEX) Uniswap and blockchain Solana (SOL) ranked 261th and 265th, respectively.

The report results also highlight the impact of the pandemic. It is noted that the performance of brands increased by an average of 19% compared to the period before COVID-19.

Cardano was created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson in 2017. The platform supports smart contracts, with a native ADA token enabling participation in the network. The asset ranks eighth in the cryptocurrency rankings with a capitalization of $14,83 billion, according to CoinMarketCap. ADA is trading at $0,4385 as of August 29 at 13:00 UTC, down 0,84% overnight, according to cryptocurrency exchange Binance.

On August 27, Hoskinson named an estimated timeline for Vasil's hard fork in the Cardano network. It will take place in September if testing completes successfully and bugs don't delay the upgrade. The upgrade will increase scalability, speed up blockchain creation, increase network throughput, which will improve performance, and ensure interoperability between Cardano sidechains.

Author: