Wednesday, February 21, 2024

Will Cardano Be The Ethereum Killer?

There are a lot of similarities between Cardano (ADA) and Ethereum (ETH). Both of them are digital currencies functioning as a programmable ecosystem. So, other digital applications and currencies can be built on these digital currencies’ networks. Currently, Cardno is behind Ethereum and Bitcoin as the number three cryptocurrency. The market capitalization of Cardano is way too little compared to BTC. However, with its steady growth, it might take over Ethereum’s position soon.

There are a lot of investors that are wondering if Cardano will kill Ethetreum and take over the number 2 position. Even with the market cap difference between ADA and ETH and the huge price, there are a lot of reasons why this cannot be overlooked.

Out of the top 6 eco-friendly cryptocurrencies, Cardano is on the third number. Bitcoin and Ethereum are not on this list. Bitcoin and Ethereum together use about 180-terawatt hours every year. However, Ethereum alone uses about 20 to 25 Terawatt hours every year. On the other hand, Cardano only uses 6 gigawatt hours every year. People will be more interested in cryptocurrency like Cardano as it requires less energy.

Even with having low energy hours, Cardano is able to process more transactions than Ethereum and Bitcoin put together. Ethereum processes 15 transactions per second, while Bitcoin processes 5 per second. Cardano is capable of processing 257 transactions every second. With Ethereum moving to the proof of stake model and Cardano planning to launch smart contracts, the race between both will be decided on how they implement their plans without any technical issues.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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