Cardano can succeed in a competitive environment

The crypto space is still in the building and experimental phase. No smart contract platform is ready for mass adoption and for real business. The next few years will be critical and we think that Cardano can succeed in the competitive environment.

The diffusion of innovations theory

The diffusion of innovations theory is a hypothesis that tries to outline how new technology spread throughout societies and cultures, from introduction to wider adoption. The goal of the theory is to explain how and why new ideas and practices are adopted. The theory introduced adopter categories and it divides consumers into segments based on their willingness to try out a new innovation or product. Innovations are adopted by different parts of society in many ways and the tempo of spreading is often influenced by subjective opinions that are associated with the innovations. The theory explains the passage of an idea through a few stages of adoption by different actors. The main actors belong to the following groups:

• Innovators: 2.5% of the population belongs to the category of innovators. This group of people is prepared to take a high risk related to the adoption of new technologies. The group consists of younger and very social people that come from wealthier backgrounds. This group is very critical for…