The topic is not a big surprise for those who have been in cryptocurrency trading for a long time. Ethereum and Cardano are the most trending blockchain networks in the crypto world, and both have some similarities and dissimilarities that make them unique among other networks. Before getting the results, let us dive into the workflow of these two blockchain networks to explore more about them.
Ethereum
Ethereum is the second most-used cryptocurrency after Bitcoin. Regarded as a strong and secured blockchain, Ethereum is used by many users and is based on a Proof of Work protocol.
ETHER is used as the cryptocurrency for Ethereum. It acts as a decentralized ledger that verifies and records various transactions. Its main objective is to serve as a decentralized application (DAPP) platform.
Users can create, monetize, and use apps on this platform where they use ETHER for making payments. The smart contracts functionality of Ethereum makes it more unique than other competitors. With this feature, the transactions can be done simply without the influence and interference of any middlemen.
Cardano
Cardano came as a game-changer in blockchain technology as it solves the problems faced by two other famous cryptocurrencies - Ethereum and Bitcoin. Many experts term it a third-generation blockchain platform designed by top-notch developers from the field.
Cardano is also termed Ethereum version 2.0 as it has some features that make it a better investment than Ethereum. Cardano has two main layers that make the mining process much more simple.
One layer is the "Cardano Settlement Layer," which handles record-keeping, whereas the other is the "Cardano Computing Layer," which implements the smart contract. Cardano uses its Proof of Stake algorithm known as "Ouroboros." ADA is the cryptocurrency of Cardano.
Which is better? Cardano or Ethereum?
These cryptocurrencies have their unique features to stand alone from other cryptocurrencies. To point one, the winner from the two is not that simple because Ethereum has a well-established position in the crypto field.
On the other hand, Cardano is also proving it as a better competitor to Ethereum. In my opinion, both these cryptocurrencies are clear winners, and only time could decide which one is best.
The Cryptocurrency Cardano (ADA) is one of those coins that suddenly appeared in the sand, surprising investors with its rapid growth (at the end of 2017, the coin grew 65 times in three weeks).Cardano is a platform for developing and managing decentralized applications (Dapps) through smart contracts.
It took place in four stages from September 2015 to January 2017.
Because of this, the large Cardano coin was unofficially named “Japanese Ethereum.”A total of 45 billion tokens were issued.
Charles created a strong team of professionals, whose active work allowed Cardano to see the light of day.However, the Cardano cryptocurrency is not a project of a developer, there are three companies behind that are working on the cryptocurrency development services and promotion of this coin:IOHK (Input Output Hong Kong) — The company was founded by Charles Hoskins and another famous programmer Jeremy Wood in 2014.
In the Cardano ecosystem, Emurgo helps companies integrate the cryptocurrency protocol into their business processes.
Their interaction is very interesting: IOHK is dedicated to creating a scientific and technical foundation and supports the protocol, the Cardano Foundation helps popularize and promote the currency among the masses, and Emurgo helps interested companies with the implementation of Cardano.Technology — EcosystemWhen forming a transaction on the Cardano blockchain, you send a whole series of data, such as: who transferred the coins, to whom, where, how much, what are the transfer conditions, why the transfer was made.The Bitcoin blockchain allows you to send only a part of this information, the Ethereum blockchain has more advanced capabilities, but it is far from ideal.
Cardano is the first proof-of-stake blockchain platform, based on peer-reviewed studies and designed using evidence-based methods.
It integrates cutting-edge technology to provide decentralized applications, processes, and communities with unrivaled protection and long-term viability.
Should you have it in your cryptocurrency portfolio?
Charles Hoskinson, a former co-founder of Ethereum, is the official founder of Cardano.
Multiple layers for settlements and computations, evidence of stake agreement, and the potential to update quickly in the future are some of Cardano’s core improvements.
Since then, the ever-expanding team of developers has been hard at work, preparing the Cardano Computation Layer to launch smart contracts.
Even if you are someone relatively unfamiliar with the crypto ecosystem, you’ve probably heard of Ethereum.
The de-facto number two, and indeed probably the most famous cryptocurrency after Bitcoin, Ethereum forever changed the use cases of the blockchain.
From an open ledger to facilitate only peer-to-peer transfers of money, the blockchain became a platform upon which smart contracts and decentralized applications, the famous dapps, could be built.
So What is Ethereum?Read More...
