The price of Ethereum (ETH) has taken a serious hit over the last few months and the rumor in town is that Cardano (ADA) is responsible for and benefiting from the crash in the price of Ether. Investors are now abandoning Ethereum’s sinking ship and getting onboard Cardano. As the Cardano platform gets closer to completion and provides a range of products and services, it’s difficult not to think that it will eventually take over from Ethereum as the leading provider of smart contract functionality.
Investors Are Building Faith In Cardano
The Cardano platform knows how to attract the interest of users and build lasting bonds with its community. It offers real value to users as it builds networks in areas where banking services are rare. The ecosystem was built to fix the flaws of Ethereum as it has a more scalable system and more affordable transaction fees. By being on existence alone, Cardano has sparked a lot of criticism for Ethereum.
Cardano (ADA) Price Today – ADA / USD
Apart from the fact that Cardano is more scalable and affordable than Ethereum, the fraudulent ICOs that plagued the Ethereum network last year have contributed in the price crash which has benefited Cardano. Cardano has recently become a hub for decentralized applications and initial coin offerings. It is stealing into a market that was dominated by Ether for many years. Smart contracts on the Cardano Blockchain are protected by several independent layers making them safer then Ethereum smart contracts. Information can be shared securely without weak points being exposed for manipulation or hacks.
Cardano has made become known for reaching the most remote parts of the world and this is something that Ethereum lacks greatly. Mass adoption has been a problem for Ethereum because of its mining algorithm and blockchain size that causes network congestion. The high transaction fees have made Ethereum too expensive for people in developing countries.
Also, Cardano has been able to capture the interest of different people from different parts of the world with its low price. Price has always been a tool that aids mass adoption. Trading below the $1 dollar mark has made cardano more accessible to investors than Ethereum. Investors want to start small and grow gradually.