Cardano’s Community Acceptance Increases after Its Restructuring as ADA Looks Poised for Growth
Even though ADA is the tenth largest cryptocurrency when ranked by market cap, the Cardano team behind the coin has not exactly been in our faces with their publicity and marketing strategies. One reason(s) for this has been said to both be conceptual, fitting in exactly what they want and stand for. A much bigger reason might just be that the team has been plagued with significant internal conflicts especially with their marketing division. However, Cardano recently underwent an important reform process and now seems to be picking up their drive.
Overtime, Cardano has been reeling through quite a bit of dispute so much that in the heat of the problems, there were a few petitions that sought to completely remove Michael Parsons, the chairman of the foundation. These petitions garnered quite a bit of support as they successfully saw a few thousand signatures, in support of his removal.
The Cardano team consists of the Input Output Hong Kong (IOHK), Emurgo and also the Cardano Foundation. Serving different purposes, the three are to collectively build Cardano, push for commercial endeavors and also drive adoption for the coin as much as possible. But even with this collaborative power, Cardano struggled to meet up with its own targets.
Effects Of Restructuring
Since the restructuring took place, there has been growth with regards to publicity and consequently, public interest in the project. For example, the Cardano website has seen a hundred percent jump in its web traffic from 200,000 to 400,000. No others had that level of growth within that period.
Also, the official Cardano social media platforms saw a significant increase as well. On Reddit, the Cardano subreddit (r/Cardano) saw a 46 percent increase from 50,000 to 73,000. Moving on to Twitter, @Cardano’s followership rate over a period of six months increased over 155 percent from about 1,000 new monthly followers to 2,550.
Efforts For Communication With The Community
Cardano recently revealed that it will be taking a few important steps to improve its community relations and engagement. This is to pull in more supporters and also to show more transparency with its endeavors. According to an official post on the IOHK website, the new efforts will include a few things.
1. The official Cardano website will undergo a complete redesign and will do a lot more with passing very detailed information to the public on all developments, in an effort to be a lot more transparent.
2. There will be regular interactive sessions scheduled monthly for the Cardano community to directly ask the management a few budding questions.
3. Status reports produced within the organization and also all product demos will be publicly shown regularly.
Pretty much everything Cardano is currently doing revolves around increasing its market presence as a bit of a break from its regular mode of the heavy focus on research and development. This restructuring has had a very positive effect on both Cardano and its community and it is hoped that this would bring in more adoption.