Expert Says Cardano (ADA) Ahead Of Ethereum In Key Network Metric
The Cardano Foundation promised increased network capacity and lowered costs with the upcoming Vasil hard fork on the network. The promise brings Cardano to the centerstage of crypto community, which is also bracing for a separate milestone event on...
The Cardano Foundation promised increased network capacity and lowered costs with the upcoming Vasil hard fork on the network. The promise brings Cardano to the centerstage of crypto community, which is also bracing for a separate milestone event on Ethereum network. It really appears to be a great time despite the bearish environment that two of the biggest cryptocurrencies are going through historic upgrades.
Within a space of one week, both the networks are getting key network updates that could go a long way in their growth prospects. This is leading to a comparisons on Cardano Vs Ethereum, as the upgrades approach.
Cardano Vs Ethereum: Which Is Better?
In this context, there arises a question as to which blockchain network is better placed for quick growth once the bull market catches up. While The Ethereum Merge is focused on reducing energy costs and a renewed consensus mechanism, the Vasil hard fork is different. Ethereum’s energy consumption is set to be reduced by nearly 99.95% post Merge from proof of work to proof of stake.
On the other hand, Cardano promises to upgrade its scaling capacities and lower its costs with the upcoming hard fork. This, according to Dan Gambardello, founder of Crypto Capital Venture, is a better bet in the Cardano Vs Ethereum debate. The influencer said Ethereum’s real focus on addressing scalability is still potentially ‘months and years’ away. Meanwhile, Cardano is already addressing the scalability problem, he added.
The Biggest Proof Of Stake Mechanism In Crypto Currently
Gambardello also referred to the recent spike in Cardano’s (ADA) market capitalization. This makes the blockchain network the biggest proof of stake mechanism in the space currently. However, with Ethereum’s shift to proof of stake with the Merge on September 15, things are bound to change. With a market cap of $17.03 billion, Cardano currently is ranked seventh, above XRP, in terms of market size. As of writing, ADA price stands at $0.49, up 1.61% in the last 24 hours, according to price tracking platform CoinMarketCap.
Anvesh reports major developments around crypto adoption and price analysis. Having been associated with crypto since 2016, he is now a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
