Cardano (ADA) is one of the few cryptocurrencies that seems to be performing relatively well at the moment, and this fact has not escaped the attention of billionaire Mark Cuban. Mark is the owner of the Dallas Mavericks and the host of the popular show known as ‘Shark Tank,’ and he has been supportive of cryptocurrencies in the past through the likes of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
Most recently, Mark is now actively considering the possibility of delving deeper into the world of cryptocurrency, but this time with Cardano. At the press time, ADA’s price value is standing at around the $2.18 figure with a change rate of -7.7% in the last 24 hours.
Cuban looking at ADA’s utility
It had been on Twitter through which the billionaire had asked his followers as to what the utility of ADA would be, indirectly asking Charles Hoskinson, the creator of the project and CEO of IOHK, to pitch Cardano to him.
It is worth mentioning that although Mark has previously dipped his toes into the aforementioned mainstream cryptocurrencies, his mentioning of Cardano is the first time that he has ever publicly discussed Hoskinson’s project, leading some to believe that he may be supportive of it after all.
Moreover, Mark also added that the Dallas Mavericks would be more than willing to sell for Cardano’s ADA token provided that BitPay, a payment processor, can add it.
Future of ADA
Hoskinson had been involved with Ethereum in the past before deciding to leave and begin the Cardano project, and it had been during his video pitch to Mark Cuban that he explained that, unlike DOGE, Cardano is not focusing on a singular aspect and that it involves a much larger ecosystem. He added that although it is complicated, more than a million individuals are already on board.
When asked about Cardano’s utility, Hoskinson stated that ADA could be utilized to issue assets, make booking reservations for hotels in over 50K locations, or even buy some wine. Perhaps most importantly, however, unlike Ethereum, which has issues pertaining to scalability as well as ridiculous gas and transaction fees, Hoskinson reiterated the fact that Cardano can be employed for voting purposes as well and is a very affordable investment.
Hoskinson concluded by providing the example of Cardano’s ongoing relationship with the Ethiopian government as proof of its increasing mainstream adoption.