Cardano ADA is one of the Ethereum killers among the new generation blockchains. Ethereum killers are decentralized computers just like Ethereum. These set of blockchains are dubbed ‘Ethereum killers’ because they are smart contract enabled and decentralized blockchains for hosting dApps just like Ethereum but they have the potential to overtake Ethereum in the space. While the chances of these new blockchains taking over Ethereum have been slim for a long time, Cardano may have what it takes to be a real Ethereum killer with the Cardano Shelly upgrade. This is not just going to help in the promotion of the Cardano blockchain, it is going to boost the Cardano ADA price prediction 2019 and the Cardano price prediction 2020 as we established in our previous Cardano news.
ADA News – Cardano ADA Vs. Ethereum ETH: Cardano News Today – ADA Cardano News Today
The Cardano blockchain is decentralised just like the Ethereum blockchain. It can also be used to create smart contracts just like Ethereum. However, smart contracts on the Ethereum blockchain are not completely invulnerable. A typical example is the Parity incident. A user was able to lock more that $200 million worth of Ether in smart contracts indefinitely. Investigations were subsequently launched to test how far the vulnerabilities of Ethereum smart contracts go.
Ethereum (ETH) Price Today – BTC / USD
There is also the problem of scalability. Ethereum has always had to battle with the problem of scalability. While the Ethereum development team is working on solving this problem next year, it is making the blockchain latent. The more people use the Ethereum blockchain, the slower it becomes. Cardano is like an updated version of Ethereum making it more scalable. The blockchain is faster than the Ethereum blockchain and it is also cheaper to use. Developers who don’t have a lot of money can easily build their apps on the Cardano blockchain instead of Ethereum because the ADA token is cheaper than the ETH token and both tokens are used as fuel on their respective blockchains.
Another factor that makes Cardano a great alternative to Ethereum is the decentralization. The Cardano Shelley upgrade is going to make the Cardano blockchain 100% decentralized. Since Ethereum is still facing some problems with decentralization, this is going to give Cardano an edge over Ethereum. True decentralization is the core principle of blockchain technology. However, this leaves us with another question. Can the price and market capitalization of ADA ever be higher than the price and market capitalization of Ethereum (ETH)?
Cardano Price Prediction 2019 – Cardano Price Prediction 2020 – Current Price Of Cardano ADA And Ethereum ETH
At the time of writing, Cardano ADA was trading at $0.067905. This means that it is down by 0.02% against the USD and down by 1.27% against BTC. The trading volume over a 24 hour period is $63,894,771 and the market capitalization is $1,760,580,474. Ethereum (ETH) is trading at $160.73. This means that it is up by 0.76% against the USD and up by 0.26% against the price of BTC. The trading volume over a 24 hour period is $5,908,182,248 and the market capitalization is $17,019,202,518.
Ethereum (ETH) is the second largest cryptocurrency per market capitalization while Cardano is the 10th. While the chances of Cardano taking over Ethereum on CoinMarketCap are low, it is important to note that anything is possible in the cryptocurrency space. There has been a lot of positive Cardano ADA news recently and there is even more coming soon.
What do you think about the Cardano ADA news today? Will Cardano ADA blockchain take over Ethereum ETH? Will the price of ADA ever be higher than the price of ETH? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.