- Cardano is a third-generation blockchain system aiming to solve the issue of blockchain trilemma
- Bitcoin is a leading cryptocurrency in the crypto market which is launched with the purpose of peer-to-peer online currency
- Ethereum is a leading blockchain system helping businesses to build decentralized applications on top of it with the help of smart contracts
ADA There is no doubt that the blockchain system has grabbed the attention of mainstream people because of its highly securable and decentralized nature. The blockchain system is constantly evolving and new technologies are making their way to the digital world.
Now, many people assume that other than Bitcoin or Ethereum, Cardano has the potential future and it will surpass other blockchain systems. Bitcoin is considered the largest cryptocurrency with its highest market share and Ethereum is the leading blockchain and helped more than 3000 businesses to develop their apps.
Besides leading the crypto and blockchain world, these two blockchain systems have some shortcomings that Cardano promises to solve. These shortcomings include scalability issues, security issues, energy consumption issues, and many more. That’s why it’s important to know how it will surpass these two blockchains in the future.
Bitcoin (BTC): A Peer- To- Peer Cryptocurrency
Bitcoin is the first and largest cryptocurrency that the digital world knows. It is the first currency that has taken use of blockchain systems. This cryptocurrency is based on the Proof-of-Work consensus mechanism to secure the network. It is launched with the purpose to change the traditional finance system and make it decentralized in nature.
It was launched by an anonymous person called Satoshi Nakamoto in 2008. The bitcoin’s blockchain can process up to 3 transactions per second which makes it time-consuming. Also, its consensus mechanism requires an excessive amount of energy.
Ethereum(ETH): Blockchain Having Smart Contracts
Ethereum is the first blockchain system that has firstly utilized the concept of smart contracts. Smart contracts are contracts that get executed automatically when the predetermined condition is met. These smart contracts help the business to automate their various processes.
Launched in 2015 by Vitalik Buterin, Ethereum uses a Proof-of-Stake consensus mechanism to secure the network, which is 99.95% more energy efficient than PoW consensus. The network can process up to 15 to 20 transactions per second. It has a native token called Ether which is used for transactions within the network.
Cardano (ADA): Third-Generation Blockchain System
Cardano is a third-generation blockchain system that aims to solve the issue of blockchain trilemma. The network uses an Ouroboros Proof-of-Stake consensus mechanism, in which the validators are divided into epochs, which are further divided into blocks.
Launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum, the platform can process up to 250 transactions per second. The platform has its native token called ADA named after Ada Lovelace, the world’s first computer programmer. The platform is highly scalable, securable, and energy efficient.
Will it Surpass Bitcoin and Ethereum?
Cardano offers higher scalability and transaction speed than the other two of them. Also, the project is energy efficient and can save up to 99.95% of the energy in validating the nodes with the help of its consensus mechanism. The native token of the platform ADA is also performing decently in the coin market cap and is ranked at no. 7th.
However, it is far away from these two crypto coins in ranking. But, we can’t lower the potential the project has for the future. Talking about the current scenario of the platform, it is consistently working on its functioning so as to provide the best to its users and outperform itself among its competitors.
So, we can say that it will surpass Bitcoin or Ethereum in the near future as it has a lot of potential and upcoming features that will increase its popularity in the crypto landscape.