There are hundreds of thousands of digital tokens and coins in the crypto market competing to attract potential traders and investors to their blockchain network.
Mainstream cryptocurrencies like Bitcoin, Cardano, and Ethereum have solid roadmaps to supporting their growth in the crypto space.
However, at the same time, other projects with somewhat unclear goals have also made a notable upsurge in the crypto world. This shows how unpredictable the blockchain and cryptocurrency realm is.
In this article, we will compare two primary crypto tokens of Ethereum, and Cardano. We will look at their basic models, features, project details, and other factors.
Ethereum prides itself as the second-largest cryptocurrency in the digital asset industry, second to bitcoin.
The native cryptocurrency of the Ethereum blockchain platform is known as Ether.
Pros of Ethereum Blockchain
One of the pros of the Ethereum blockchain is that it supports smart contracts in its ecosystem which helps it function effectively.
Smart contracts are one of the most appreciated and valued features in a blockchain network. They foster more security, scrutiny and transparency into the network.
Through a smart contract, users can efficiently execute safe payments and transactions without the need for any third party.
The ethereum network has an open-end source that allows anyone to create new dApps.
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These applications tun on the native cryptocurrency of the Ethereum platform Ether (ETH).
Therefore, both the host network and decentralized application benefit from its success.
The cons of the Ethereum network
Miners validate transactions via highly powered computers that help them in solving complex codes and puzzles on the network.
As these tricky codes and puzzles become more complex, miners consume more energy validating transactions.
Another major drawback of the Ethereum network is that for every transaction conducted, it charges extremely high gas fees.
Ethereum developers have been working on Eth 2.0 that decreases this gas issue, launching a consensus protocol designed to make the environment more friendly, giving miners the chance to verify transactions and also earn a reasonable reward for their contribution to the blockchain. of protocol.
Cardano was primarily designed to counter the Ethereum token. As a matter of fact, the Cardano foundation was built by one of the co-founders of Ethereum and it sparked an undying debate on Ethereum vs Cardano.
Nonetheless, both tokens have several similarities within their protocols. Cardano protocol’s native token is called ADA. It is used for rewards on the network.
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Pros of the Cardano network
Like tEthereum, Cardano also allows decentralized applications to be built on its network.
It is currently hosting an Indigo Protocol and an NFT marketplace on the Cardano blockchain. It allows users to trade real-world assets seamlessly.
Cardano uses the proof of stake pos mining protocol, giving it an edge over Ethereum. Unlike Cardano, Ethereum is yet to transition to the PoS (Proof of Stake) model.
Both Cardano and Ethereum support smart contracts in their blockchains. Cardano smart contracts were introduced recently in the Cardano blockchain, and it has improved the network’s protocol.
Cons of the Cardano network
Over the last two years, the Cardano network has seen tremendous growth, but it is still a baby when compared to Ethereum.
Cardano’s rivalry with Solana and Ethereum somewhat proves to be a decisive factor in limiting the token’s growth.
Cardano’s operating system gives holders a lot over deciding the future of the blockchain. This isn’t such a smart move as it can backfire on the network in several instances.
Also, Cardano doesn’t have fully-functional smart contracts that automate transactions and financial services.
Till it does, it can be very well considered overvalued in comparison to other smart contract crypto projects.
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