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  • Quanstamp auditing firm has said that Cardano will overtake Tezos to become the second-largest DeFi platform.
  • Quanstamp CEO noted that Cardano as some of the best code in all of the blockchain space.

Blockchain security auditing firm, Quanstamp, said that Cardano will become the second-largest decentralized finance (DeFi) platform, following Ethereum. The CEO of Quanstamp, Richard Ma, believes that Cardano has some of the best codes in all blockchain spaces. He said that it’s parallel to ETH 2.0’s Prysm, according to a Cointelegraph report.

Commenting on the recent Shelley hard fork, Quantstamp communications manager, Jaye Harrill, said that Cardano will become the second-most popular smart contract platform by the end of 2020. Harrill added that he feels Cardano “dwarfs” Tezos as a proof-of-stake blockchain. 

The move to the Shelley era means Cardano will be the second most popular smart contract platform, second only to Ethereum by the end of the year. As a proof of stake system, it now dwarfs Tezos.

Just recently, Charles Hoskinson, the CEO of IOHK (the firm behind Cardano), replied to a tweet by EOS founder Daniel Larimer. Hoskinson said that by the end of the year, smart contracts and native assets are coming to the platform along with low latency. 

ADA/USD daily chart

ADA/USD daily chart

ADA/USD bulls remained in control for the third straight day and the price is consolidating in a pennant formation. It’s current priced at $0.1443. The Elliott Oscillator has had seven straight red sessions. The price has one strong resistance at $0.1487. On the downside, we have healthy support levels at $0.134 (SMA 20), $0.117 and $0.114 (SMA 50).