Kraken the world top exchange highlight the main difference between Ethereum and Cardano.
Ethereum, the largest smart contracts platform and Cardano most widely termed as Ethereum killer is the largest proof-of-stake (PoS) blockchain.
Kraken pointed out that Cardano blockchain is designed in a way that promotes its native coin ADA and enables developers to securely build DApps on it. While Ethereum was built to be a kind of operating system for any number of custom assets and programs.
The exchange points out that Ethereum was launched in 2013, while its software went live in 2015, even taking birth two years after ETH in 2017, Cardano has attained some prominent prestige and market share of Ethereum.
The exchange further writes that Cardano got its initial investment by selling 26 billion tokens to investors.
“At the time of its launch, approximately 31 billion ADA were created, nearly 26 billion of which were sold to investors by a Japan-based company hired to manage the sale. Participants were able to purchase vouchers that could later be exchanged for ADA on the software’s release.”
Kraken points out some major characteristic of Cardano that makes the coin stand in front of its competitors especially Ethereum.
The crypto exchange stressed that Cardano unlike other projects is being released in phases.
“Cardano is released in phases and has seen 5 major platform upgrades since 2017, including Byron, which enabled the transfer for ADA cryptocurrency for the first time and Voltaire, which introduced a new model for how users could fund development for software changes.”
The world top exchange writes that Cardano has a research-driven approach to design that makes the coin different from other blockchains.
“Cardano differs from other blockchain projects by emphasizing a research-driven approach to design, aiming to achieve an academic rigor it believes will propel the adoption of its technology. While Cardano may not promise new ground-breaking features, users and developers may find its cryptocurrency offers appealing optimizations based on scientific research and formal verification, a process by which its code is verified mathematically.”
In the last 24 hours, Cardano is ahead of Ethereum in terms of transaction volume. over the past 24 hours, Cardano processed $4.02 billion and ETH $2.41 billion. Also, Cardano users paid just $63,254 in transaction fees compared to Ethereum’s $25.44 million
The increase in the activity on the Cardano blockchain requires a boost in the network’s capacity so Cardano Input-Output Global is looking to enhance Cardano’s smart contracts platform, Plutus scalability.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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