The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Can Cardano ever compete with Ethereum on the smart contracts front

by Miki 10/27/2021
by Miki 10/27/2021 0 comment

The lack of trust while engaging with different parties is one of the biggest challenges that people outside the “smart world” face. Due to the lack of transparency, people end up spending a lot of time and money on intermediaries, before finalizing an agreement.

Smart contracts, on the other hand, provide a solution to the aforementioned problem by eliminating intermediaries and making the system even more transparent.

The Ethereum-Cardano dilemma

Now, Ethereum has been in the space since its inception. It is, arguably, the uncrowned prince of the smart contract space. With time, however, competition has been on the rise, with Cardano being one of the latest ones to step into the arena.

Ethereum’s soaring gas fee has always been a major cause of concern for people from the community. This week alone, the fee has crossed 250 gwei and 350 gwei a couple of times.

In fact, when compared to the weekly average, the fee, at the time of writing, was at a fairly higher level.

Source: ethereumprice.org

In effect, Cardano-based smart contracts can take advantage of the aforementioned vulnerability of Ethereum. If it successfully manages to do so, then smart contract clients wouldn’t hesitate to swap their networks.

Well, Cardano is obviously new to this space and as they say – New utility means new adoption. However, there’s hardly anything for Cardano to show yet. The number of contracts executed has been quite low.

As per Statista’s chart, the rounded transactional volume did witness a massive spike post the Alonzo hard fork. However, it hasn’t been able to sustain those levels. In fact, it has been falling sharply over the past few days.

Nevertheless, it should be noted that Cardano has entered this space at the right time. It can leisurely experiment and see what works and what doesn’t because it has the luxury of time that other platforms might not necessarily have when they decide to join later.

Source: Statista

Cardano is the first blockchain to be developed using peer-reviewed research and evidence-based methodologies. In effect, several analysts have already started claiming that its output efficiency is higher and better than that of Ethereum.

Now, a new bridge is being built from Ethereum to Cardano. Using this bridge, NFT creators will be allowed to easily move their non-fungible tokens from the energy-intensive Ethereum blockchain to Cardano. In retrospect, this would be great for the latter network’s adoption.

Another X-factor

Development activity is another key yardstick that can be used to assess where different networks/protocols stand.

Well, Cardano has been able to maintain fairly high levels on the development activity chart, relative to Ethereum. Even at the time of writing, Cardano had an upper hand when compared to its counterpart.

Thus, going forward, Cardano does have a golden chance to give Ethereum neck-to-neck competition.

Source: Santiment

However, to emerge as a winner, Cardano would have to provide top-notch cross-chain interoperability, fast transactions, and predictable fees, among other services and facilities.

It has started off in the right direction, but only time will tell if it can surpass Ethereum’s popularity.

Source link

Views: 0
CardanocompeteContractsEthereumfrontSmart
Share
0
FacebookTwitterPinterestEmail
previous post
Bitcoin (BTC) Under Pressure, Can Valkyrie’s Newly Filed Leverage Bitcoin Futures ETF help?
next post
Shiba Inu Rallies To New Highs While Dogecoin Remains Under Pressure

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Elon Musk Refers to Dogecoin as “Money” on Twitter

  • Coinbase Prepares for Aggressive Expansion In India Despite Regulatory Concerns

  • Cleveland Cavaliers Basketball Team Partners with Fan Token Platform Socios

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,450.000.88%
  • ethereumEthereum(ETH)$1,978.561.07%
  • tetherTether(USDT)$1.000.09%
  • binancecoinBNB(BNB)$317.465.28%
  • usd-coinUSD Coin(USDC)$1.000.06%
  • rippleXRP(XRP)$0.4137820.89%
  • Binance USDBinance USD(BUSD)$1.00-0.05%
  • cardanoCardano(ADA)$0.532.00%
  • SolanaSolana(SOL)$50.211.21%
  • dogecoinDogecoin(DOGE)$0.0850691.41%
  • polkadotPolkadot(DOT)$9.972.98%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,419.000.73%
  • Lido Staked EtherLido Staked Ether(STETH)$1,930.380.29%
  • AvalancheAvalanche(AVAX)$29.560.97%
  • tronTRON(TRX)$0.0742644.13%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000121.88%
  • daiDai(DAI)$1.000.10%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$69.970.84%
  • CronosCronos(CRO)$0.1891232.12%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.900.85%
  • matic-networkPolygon(MATIC)$0.652.09%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.085.81%
  • FTX TokenFTX Token(FTT)$30.171.57%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$192.631.00%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.041.63%