- Can Cardano be called the “Ethereum killer” ?
- Can we compare Solana and Cardano ?
You might be familiar with crypto’s like – Bitcoin and Ethereum. But only experienced people know about ADA, Cardano Alonzo. Cardano, enables smart contracts and works as decentralized applications, like Ethereum with its native currency – ADA.
As comparing the price of its token in 2017 and today- it was $0.02 and now it is $0.38.
So ADA tokens showed a relatable growth from then to now. Talking about sustainable systems and strong commitment to minimizing environmental effects, it is also termed as one of the ‘ Green Crypto-Currencies’.
Green cryptocurrencies means currencies that use renewable sources of energy. This means having low transaction fees, therefore low energy will be used.
Talking about the speed of transaction, it is much more than Ethereum but less than Solana. Cardano blockchain was invented in 2015.And it looks like today’s Alonzo Hard Fork, which is a horseshoe – will keep Cardona’s dream running.
The upgraded Hard Fork- Alonzo will have three levels, each having its own security test for smart contracts. These three levels/stages are- Alonzo Blue, Alonzo white and Alonzo Purple.
Smart Contracts/Ethereum killer?
Cardano has mentioned 5 eras in their official site, these eras are- Byron,Shelley,
Goguen,Basho and Voltaire. This era is the Goguen era and defines the steps in developing enterprise level ,mission and capability of Cardano Blockchain.
So the first era was Byron,this was the era when Cardano started its journey. The website also states that it will add Multi-currencies tokens in the Goguen era. The Goguen era is the third era and was after Joseph Goguen , a computer scientist.
Talking about the speed of transaction offered by Cardano, its speed for transactions is 250 transactions per second and whereas, Ethereum speed for transactions is 30 transactions per second.
So basically it is a killer but there is one rival for Cardano, whose speed is far away better than cardano, i.e., Solana.
Comparing Cardano with Solana;
The very first thing to talk about is Solana’s speed. The transaction speed for Solana is 2700 transactions per second and for Cardano it is 250 transactions per second.
The similarity between both is they both have built the network for promotion of smart contract technology .Solana and Cardano both have surmounted Ethereum in respect to the speed of transactions per second.
Also they both have low transaction fees, they both have potential to maintain scalability of transaction speed for the process.
Ponting out some of the difference between them includes the speed, Cardano is in the Goguen era, it hasn’t possibly beaten the potential and speed of transactions.
The transaction fees charged by Solana is 0.00015 dollars, whereas fees charged by Cardano is 0.25 dollars.
And this 800 times more than the fees charged by Solana. Though they both work with PoS, Solana also works with hybrid PoH in order to maintain speed of transaction.
In this article, you will learn the key difference between different cardano crypto, and will be able to differentiate who is the ethereum killer.