Cardano (ADA) is a challenger in a smart contract space dominated by a single incumbent. However, the problem with incumbents is that they often continue operating off outmoded visions that can't adapt to changing circumstances. Recent events indicate that might be the case for the dominant incumbent in the smart contract space.
Cardano (ADA) may be one of the few crypto projects that can survive the coming regulatory onslaught. The recent U.S. Senate hearing gave us a taste of exactly how certain senators would like to deal with stable coins, DeFi, and even crypto as a whole.
