Since the last decade, cryptocurrency has played a significant role in reshaping our economy trends. Digital Cash trend became all the rage and was widely accepted in various organizations. Cryptocurrency is a digital asset that allows us to make smart contracts and transfer money in a secure platform. These transactions are highly encrypted and work under blockchain technology.
With new crypto trends making bombarding impacts in the industry, it seems that the crypto giant Ethereum has finally found a worthy competitor.
The Introduction to Cardano:
Cardano is a cryptocurrency that runs on blockchain technology. It is a decentralized system and hosts the Ada cryptocurrency. Unlike other cryptocurrency platforms, Cardano offers ultimate security but with much flexible functionality.
Etherum is a similar cryptocurrency platform that broke all the charts in the past years.
Reasons for Cardano being a Better Option:
However, this year Cardano’s founder and IOHK CEO announced it might undermine Ethereum 2.0. He further stated that Cardano would also have much better features and flexibility than its competitor.
Moreover, Cardano’s newly introduced Hydra protocol will also have a significant influence on its operations. It will have faster processing for about more than one million transactions per second in one day itself.
Besides, Ethereum announced the release of Ethereum 2.0, which is said to be a major upgrade with newly added features. But, Cardano’s new protocol seems more promising.
Ethereum 2.0 also introduces its newest addition, the Proof Of Stake. This change, although, raises hope that unlike the previous version that ran on POW, this upgrade will have less scalability and accessibility issues. In Proof Of Work consensus mechanism, the miners will run nodes and resort to more computational help while working on complex mathematical solutions.
However, Cardano frowned upon this upgrade as they were skeptical whether the new features will hit the market soon enough.
Lastly, with Etheruem’s prolonged issues, many miners migrated to Cardano. However, Ethereum has been on the top for quite some time, and it looks like maybe it has a tough competition this year.
Although nothing more can be said about it until Etheruem 2.0 is finally released for mining. Cardano’s Hydra protocol seems far ahead of Ethereum’s goals and has a fair chance to win the industry this year.
So, be it Etherum 2.0 or Cardano, only time will say which one of them will keep on booming the industry. No matter what, never forget to do your research before investing in the crypto market.