Invest in Cardano today! Based on the historical price action, Cardano has been a great investment. The digital asset has received a ton of hype so far in 2021, with many fans hailing it as the Ethereum killer. Does Cardano Really Have a Chance to Steal Ethereum’s Market Share? And, should it be in your cryptocurrency portfolio? Let’s take a look!

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Cardano: Fundamental Analysis


Invest in Cardano today! Cardano is a project blockchain with over 70% of the total coin, ADA, staked for network validation (a really impressive rate). Part of the reason why so much ADA is staked is due to the lack of decentralized applications (DApps) of the cryptocurrency available on its blockchain. While Ethereum has around 5% of its total supply blocked as validators, much more ETH is blocked in DeFi applications.

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The Cardano project started in 2015 in an attempt to solve some of the problems that Ethereum was facing from its Proof of Work consensus model. Cardano was officially founded by Charles Hoskinson, who was a co-founder of Ethereum.

Some of Cardano’s key enhancements are multiple layers of processing for settlements and calculations, proof-of-stake consensus, and the ability to easily upgrade your network in the future.

Cardano’s settlement layer launched in 2017 and raised around $ 63 million through the ADA ICO. The settlement layer excludes smart contracts, so at this time Cardano could only be used to settle peer-to-peer payments. Since then, the growing team of developers has been working hard to prepare for the launch of smart contracts on the Cardano Computing layer.

Cardano development

Invest in Cardano today! Cardano currently has between 100 and 150 developers actively working on the project and releases around 700 commits per week. These factors make cryptocurrency one of the most actively developed projects in the blockchain space today, suggesting that they will be able to fulfill their ambitious roadmap.

This number of developers places Cardano among the most likely projects to steal market share from Ethereum. However, it is still nowhere near the size and pace achieved by Ethereum, Polkadot and Cosmos, as seen below in the 2020 Electric Capital Developers report.

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Cardano Smart Contracts

Invest in Cardano today! One of the most common criticisms of Cardano is its non-existent DeFi ecosystem. Since its launch of smart contracts on September 12, 2021, investors expect to see an ecosystem built soon. However, Cardano’s smart contract update did not go well, with its price falling after applications were unable to operate on the new software.

Cardano’s smart contracts will run on Cardano’s compute layer, which will support the legacy Solidity contracts, as well as its own language, Plutus.

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Cardano has already signed some notable partnerships with universities, governments, and businesses, including the University of Illinois, Ethiopia, and New Balance. Hoskinson has pushed hard to see Cardano’s potential come to fruition in Africa, where he believes blockchain can make a big impact. This is partly because a large proportion of Africa’s population is unbanked.

New Balance also has plans to use the Cardano network to track the authenticity of its shoes.

Cardano vs Etereum

Invest in Cardano today! While Cardano and Ethereum aim to achieve similar goals, they do so in very different ways. Arguably its biggest downfall, Ethereum uses a proof-of-work consensus model to verify transactions. This is extremely energy intensive and can only handle around 15 transactions per second. In contrast, Cardano can theoretically handle thousands of transactions per second, allowing for much better scalability.

That said, Ethereum has a much more developed ecosystem than Cardano. Cardano’s smart contracts are not working yet, so there are no NFTs, decentralized exchanges, or decentralized lending platforms on its blockchain. Even once these programs go live, they will take time to gain the liquidity and adoption seen by the Ethereum blockchain.

What’s more, Ethereum plans to transition to a proof-of-stake network within the next year. Once this happens, many of Ethereum’s scalability issues will be fixed. At the end of the day, a bet on Cardano is a bet that its ecosystem will develop before Ethereum goes to proof of stake.

Pros para Cardano

Invest in Cardano today! Cardano is already a proof of stake and has a strong development team behind its future updates. The project focuses on getting it right the first time, while Ethereum focuses on trial and error to develop its ecosystem.

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Cardano’s separation of the settlement and calculation layers results in much lower transaction fees for payments.

Cons for Cardano

Invest in Cardano today! Cardano is fighting an uphill battle with an army one-tenth the size of Ethereum. Competitor Solana also has a much larger development team and is growing even faster.

Low rates are nice, but low rates also indicate low demand for space on the network. This could change when more smart contracts start to flow through the network, demanding more space than payments.

Cardano has no chance to exceed Ethereum’s smart contract market share until they launch fully operational smart contracts. This is expected to be sometime in September 2021.

Pros for Ethereum

Invest in Cardano today! Etheruem’s network is already established and has more than 1,500 active developers (more than 10 times more than Cardano). Ethereum is the foundation of the DeFi movement, and has a rich ecosystem already built on top of it. If Cardano wants to defeat Ethereum, they will also have to pick up the brunt of this entire ecosystem (which is why Cardano has already promised to support smart contracts written in Ethereum’s programming language, Solidity).

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Ethereum is also much more decentralized than Cardano, which makes it much more secure (even before Ethereum 2.0, which should increase security). Also, the ETH2 testnet, essentially the beta version, is already more decentralized than Cardano.

Cons for Ethereum

Invest in Cardano today! Ethereum’s long transition to proof of stake is giving its competitors time to catch up and gain market share. Ethereum’s high network fees also make it unusable for many of its potential users. Since Ethereum only has 1 layer for settlements and smart contracts, the blockchain relies on scale solutions like Polygon, Optimism, and Arbitrum to scale its network. That is, until ETH2 is released.

Where to buy Cardano

Invest in Cardano today! Cardano is available almost anywhere crypto can be purchased. You can pick it up from Finance.US, Kraken, and even Coinbase starting in May 2021.

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Apostando Tu Cardano

Cardano is a proof stake network, and you can become a valitor by betting some or all of your ADA tokens. Staking grants you network fees for all transactions that you validate. This is a great way to support the decentralized community and earn passive income at ADA!

Is Cardano a Good Investment?

Cardano is without a doubt one of the most promising apps in the space blockchain today, with solid foundations and a lot of momentum behind the project.

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Although it is touted by many as the Ethereum killer, this is extremely unlikely. In my opinion, Cardano will carve out its own niche within the global blockchain ecosystem, but it will not change Ethereum. If you are bullish on crypto and blockchain All in all, then it makes a lot of sense to have a position in Cardano. If you own Ethereum, then Cardano is a great hedge that will likely result in a net increase in profits. It really is a win-win.

Remember, this is just my opinion and not financial advice. Crypto investments are inherently risky and you should not invest money that you are unwilling to lose. Crypto is extremely volatile, but I guess that’s why you are here to start.

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