You should be taking Cardano (ADA) seriously, as it is the new Ethereum-Killer
Jan 04, 2018 Posted / 7848 Views
Since last year people have moved past Bitcoin and searching for other Altcoins. Cardano (ADA) has grabbed the attention since last two weeks as the currency reached a crucial milestone. This promising Altcoin has surpassed $1.00 in value just in the past 24 hours, and gained about 36%. The currency has risen by 158% since the last week.
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You will be surprised to know that Cardano has surged past Litecoin (LTC) and IOTA (MIOTA) now and has become the 5th most valuable cryptocurrency on the worldwide market. At $1.24 the total digital currency has worth of $32.19 billion.
Ethereum was by far considered the best blockchain by many analysts. However, since Cardano has entered the market scene, it is have established more authenticity than Ethereum. It is the first peer-blockchain in the history of cryptocurrency, which is developed and founded by the scientists (claims made by the team)
There are many unique features, which have helped the coin surpass the other Altcoins. First, it is a tradable unit of value like many cryptocurrencies. Next, It’s speedy and affordable way to complete transactions and the most important pointer is that it’s also features a smart contracts platform just like Ethereum.
Since its origin it was being called the “Ethereum of Japan”, however, it is more fast and convenient in comparison to Ethereum. Interestingly, its Proof-of-Stake (POS) technology permits deeper functionality.
Just as Bitcoin was introduced in the market, it gained huge market attraction and the rivalry increased in just a few years as more and more cryptocurrencies started challenging its market control. At present diverse crypto-coins like Ripple (XRP) and Litecoin (LTC) have utilized this technology as advancement to Bitcoin, however, they are building on its flaws and limitations.
Ethereum came up with original blockchain protocol, but not long it attracted copycat protocols. Cardano can be considered as one of them, as it offers almost similar advantages as Ethereum. Ethereum is already facing some shock from Ripple as it just slipped from its position of second-most-valuable cryptocurrency to third. You cannot actually falter for Cardano’s protocol as it was founded by one of Ethereum’s co-founders – Charles Hoskinson.
Interestingly, Ethereum’s cryptocurrency called Ether (ETH) has only gained about 18 percent in the last week and almost going flat. Nevertheless, you cannot just dissipate Ethereum as both coins have experienced tremendous growth with Ether growing to $900 on Jan 1. It seems that the upward trajectory will not slow down for either of them any soon.
Looking at the figures and statistics provided by various cryptocurrency exchanges, it looks like Cardano might net a bigger profit this week. However, it can be said that these are both high-value cryptocurrencies with huge promises.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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