Cardano Foundation Says There is No Better Match for Tesla than Cardano (ADA)
Tesla has only just renounced its decision to accept Bitcoin barely hours ago, and Cardano has wasted no time to provide itself as a viable alternative.
Elon Musk, CEO of Tesla, announced the company’s decision to pause acceptance of bitcoin late Wednesday, barely three months after the company welcomed the leading cryptocurrency.
Musk cited environmental concerns for its decision and suggested Tesla would be ready to accept Bitcoin payment in the near future once Bitcoin mining methods become safer. However, the future is speculative, and Cardano, through the guise of the Cardano Foundation, does not think the company has to wait too long when a ready solution is available.
Cardano Foundation thinks the solution is Cardano. And they believe there is no better match.
Cardano Foundation is a Zug-based organization intent about advancing and promoting the fourth-biggest blockchain (after Ethereum, TRON, and EOS): Cardano.
Arguing their case in a cheeky informative Twitter thread, the foundation suggested to Tesla, Inc. that both organization’s goals do not only align, but that Cardano might also just be the perfect token with the greenest consensus mechanism.
Cardano consensus mechanism is famous for its conservation of energy. Compared to Bitcoin’s energy demanding Proof of Work (PoW) system, Cardano’s Proof-of-Stake (PoS) requires less power to complete transactions, making use of unhealthy cheap energy sources like fossil fuels necessary.
Cardano Holds its Head High
Cardano’s ‘green-energy’ stance over Bitcoin is a social one, perhaps even almost a political one, and it is not only in this department that Cardano has threatened to hold its high in the past 24 hours.
Following Tesla’s public decision to reject Bitcoin payments, coupled with other contributing factors, the crypto market has entered a significant slump in the past 24 hours, with coins like Bitcoin, SHIB and DOGE diving along with the dipping trend.
While the dip continues, Cardano surprisingly leads one of the few coins to go against the bearish trend. The ADA token has not only managed to accumulate gains, it has also broken its all time high record within that same period.
At 12:11 UTC, the token broke its all time record, trading at $1.87.
At press time, the coin trades at $1.67.
You can buy and exchange your Cardano (ADA) on ChangeNOW here.