Cardano Is Getting Better: What Sets It Apart from Ethereum?
Two of the rising stars today in the smart contract race are Ethereum (ETH) and Cardano (ADA). While the two are similar in many ways, some factors make Cardano a better choice for investment purposes. It’s the same reason why CardX developers chose Cardano as the primary blockchain to work with.
Ethereum and its native coin, ETH, have been in the crypto space more than Cardano (ADA). Ethereum has several advantages, including the fact that it’s the most widely used for decentralized applications (dApps). It also has smart contracts that allow developers to execute safe and secure agreements without seeking assistance from a third party such as a lawyer. Being an open-source where anyone can create new dApps, Ethereum requires that every application created on its platform uses Ether as the primary crypto.
However, Ethereum has all along depended on proof of work (PoW) mining protocol. PoW is an energy-intensive protocol, which is costly for miners. Although Ethereum is progressively transitioning to proof of stake (PoS), which is much more environmentally friendly. The transition, however, is not easy as miners will have to adapt to a new requirement to put some of their own crypto holdings at state to verify transactions for a chance to earn rewards.
Cardano, created by one of Ethereum co-founder Charles Hoskinson, shares many things with Ethereum. However, is already based on PoS protocol, which makes it more superior in terms of growth and prospects. Although Ethereum has the first-mover advantage over Cardano, the latter has better investment prospects as it is still in its infancy stage. The growth percentage of Cardano over the last year in terms of market capitalization and transaction volume has been better than Ethereum. Moreover, projects like CardX are driving its growth to the next level hence presenting better opportunities for aggressive investors.