Earlier this year, Cardano (ADA) surprised the market with its fever that went viral for a couple of weeks if not months. Those who suffered from this ailment were prone to talk about the coin constantly together with its projects. The infected ones were also seen to predict and hope for a wonderful market performance for this year as the digital coin and its management dedicate themselves to delivering on promises concerning its road-map.
And by looking at the coin’s fundamental concepts and roadmap, it is safe to say that once the Cardano (ADA) mainnet is live and running, the digital currency will give the more relevant coins such as Ethereum (ETH) and Ripple (XRP) sleepless nights as I will try to elaborate.
Ranked as the 7th most popular virtual currency in the world with a market cap of more than 3.7 billion US dollars, Cardano proves itself to be one of the most notable crypto projects in the cryptocurrency ecosystem. According to Weiss Ratings that were released in May 2018, Cardano was rated to be one of the most promising currencies in the digital sphere having a trustworthy and transparent team.
Cardano (ADA) Vs. Ripple (XRP)
As many might not know, Cardano (ADA) is a virtual currency that facilitates quick and direct money transfer on its blockchain network. On the issue of transaction speeds or durations, the number is yet to be confirmed by the Cardano team; many analysts differ on whether it beats Ripple’s 3.3 seconds per transactions. If these assumptions are anything to go by, Cardano might be the fastest virtual currency and blockchain technology out here to initiate and implement transactions.
Also, Cardano’s platform is believed to run financial applications that can be used for daily activities by regular people like you and I, by institutions, and by nations. From the sound of it, it sounds like Cardano (ADA) will be competing with Ripple’s projects namely, xCurrent, xRapid, and xVia.
Thanks to their worthy developers, the Cardano network is developed in layers that give the system the flexibility and capability to be easily maintained and upgraded. Cardano is usually upgraded using soft forks, and given its upgradable capability, Cardano (ADA) competes hand in hand with Ripple which also is upgradeable. Ripple released their recent upgrade, Ripple v.0.90.1.
Moreover, when it comes to price, Cardano is way cheaper and affordable compared to Ripple (XRP) in the virtual currency markets at present. It offers an untapped source of investment since there is no much hype around the digital token at the moment given that the Cardano blockchain project is run as a non-profit project.
Cardano Vs. Ethereum
In the case of the Parity incident, Ethereum’s smart contracts have proved itself to be vulnerable considering the case where a random user managed to lock up and hold hostage over 200 million US dollars of Ether in the form of a smart contract. Cardano also has the capability of offering smart contracts on its platform more securely and at a shorter period compared to Ethereum.
All in all, Cardano seems to be a present and future threat for both Ethereum (ETH) and Ripple (XRP). Keep an eye on this crypto; it’s not just another blockchain project, it’s something ‘real’ in the making.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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