Wednesday, November 30, 2022
HomeCrypto NewsMarketDogecoin Has More Potential Than Cardano, Says Billionaire Mark Cuban

Dogecoin Has More Potential Than Cardano, Says Billionaire Mark Cuban

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Mark Cuban is iterating his support for DOGE again, this time taking a swipe at ADA in the process.

In an interview with Altcoin Daily, Billionaire Mark Cuban expressed his belief that the Dogecoin network has more potential than Cardano.

“I still think DOGE has got more applications potentially available to it than Cardano … but the opportunity for Cardano was greater until DOGE really becomes a platform for applications,” Cuban said, giving reasons for his view.

In response to the video, the founder of Input Output Global (IOG), the company responsible for managing the Cardano chain Charles Hoskinson, opted to use a GIF showing two persons in a mocking agreement. However, other Cardano community members were more vocal about their discontent with Cuban’s statements. One user noted that Cuban’s view of Cardano appears stuck in 2019.

Notably, Cardano and Dogecoin are two very distinct networks in their conception. While Dogecoin is practically a copy of the Bitcoin code with minor iterations created as a joke to make fun of the cult following in the crypto community, Cardano was started by a team of experts with an eye on precision.

However, it is worth noting that despite its origins, Dogecoin has seen mass adoption as people recognize its potential, with many advocating for its use as a currency. Consequently, there has recently been a flurry of development on the Dogecoin network.

Cuban, along with fellow billionaire Elon Musk is one of the most influential supporters of DOGE. In 2021, Cuban made it possible for his NBA team, the Dallas Mavericks, to accept Dogecoin as payment for merchandise and tickets through a partnership with BitPay.

It is worth noting that while the crypto space often hits on the Cardano network for its perceived slow pace of development, the Cardano community has been the one laughing this year as detractors like Solana faced consecutive outages. However, the Cardano community is on the brink of a significant upgrade that would bring it closer to the Basho phase in its roadmap, ushering in improved smart contract functionality and scalability.

At the time of writing, Cardano and Dogecoin rank 7th and 11th, respectively, in terms of market cap.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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