CARDONA BLOCKCHAIN

It is also important to remember there are some crypto specific factors that could spell trouble for the market. An example of such a factor is would be an outage of a major smart contract cryptocurrency and it sounds like Cardona recently came dangerously close to this outcome. Depending on your source, up to 60% of nodes on the Cardano blockchain were knocked offline last week. I think this is the first time something like this has happened since the Cardano mainnet went live in 2017. The root cause is reportedly still being investigated by Cardano's developers but the blockchain continues to operate despite the node outage. Most of the nodes that were knocked offline automatically rejoined the network shortly afterward without invention.

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As impressive as this is, it does beg the question of what could have caused the outage. A surge in transactions appears of the blockchain is cut out of the question. This is because the number of transactions on the Cardona blockchain has been more or less steady over the last few months. Another possibility is that Cardano's recent vessel hard fork contains unforeseen bugs that caused issues for the blockchain node. This would make sense given that vassal focused on stability that is speed. Cryptocurrency blockchains tend to get less secure or less decentralized as they get faster.

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There is another possible cause however and that's that Cardano was targeted by a bad actor. If this is the case, then the question would be why? It could be because Cardona founder Charles Hoskinson was considering acquiring Coindesk and some power don't want that to happen. Given the intense competition we have seen between stablecoin issuers, I suspect that it is much more likely that the motivation for an attack on Cardano assuming that it occurred at all would be to stop or at least delayed the launch of upcoming Cardano's decentralized stablecoin to Jed.

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After all, the last thing that centralized stablecoin issuers want is for a decentralized alternative to come along and steal their Thurder. In contrast to making a Dow's die which is mostly backed by Circle's USD, the JED will be entirely backed by ADA making it truly decentralized and impossible to control or influence. This is very important because a truly decentralized stablecoin would be next to impossible to regulate. This means a stablecoin like JED would not be subject to the same restrictions that regulators are planning on imposing on the likes of USDT and USDC. This would give a stablecoin like the JED a huge advantage over its competitors which would result in more adoption and growth.