However, they, at least at the moment of writing this article, have different consensus mechanisms – Cardano is a proof-of-stake (PoS) blockchain platform, while the Ethereum blockchain is a proof-of-work (PoW) one. Comparing Ethereum (ETH) and Cardano (ADA) BlockchainsĪs we have already mentioned, both the Cardano and the Ethereum blockchains have smart contracts capabilities. It’s hard to say whether Cardano has a chance to ever take Ethereum’s market cap – it will require both of them to go through some significant price movements. Market cap has always been the true metric of a cryptocurrency’s success, not the coin’s (or token’s) price. *as of 08/09/21 Source: Īlthough Cardano is the 3rd biggest cryptocurrency, its market capitalization is nowhere near as big as that of Ethereum or Bitcoin. Hoskinson later co-founded Cardano with a former Ethereum colleague Jeremy Wood. The two disagreed on whether the project and the platform should be commercial or not (which was Buterin’s view). ![]() One of those 8 founders was Charles Hoskinson, who was removed from the Ethereum founder team by Buterin in 2014. The project also has 8 official founders, but Buterin was the one who invented the idea behind it. However, it should be noted that he wasn’t the sole creator of the blockchain: many others contributed to its code. Pretty much everyone who’s been into crypto for a while has heard about Vitalik Buterin, who was only 19 when he created the Ethereum blockchain. As it was launched earlier than Cardano and was the first ever blockchain platform to introduce smart contracts, it has the first-mover advantage. Launch Date EthereumĪlthough Ethereum was only launched in July 2015, its white paper was published back in 2013. Now, let’s take a closer look at the differences between the two platforms. On the other hand, this difference makes Ethereum less stable, reliable, and overall more chaotic – qualities that cryptocurrencies are often criticized for. While Ethereum can deploy updates quite quickly, Cardano’s focus on its peer-review nature means it can often get stuck formalizing smaller, less significant updates. Of course, this doesn’t apply to every token or coin, but ADA being seen (and perceived) as a token that is only useful within its own ecosystem can be one of the things that are holding it back from gaining more popularity as a currency.Īnother big difference is how they implement updates – something extremely important to the general health and longevity of blockchains. On the other hand, coins like Ethereum or Bitcoin are more generally accepted as actual currencies. Tokens are known to be oriented towards supporting and being used within their own ecosystems, which is what ADA does. ![]() There are quite a few differences between Ethereum and Cardano: for one, although technically both Ether (ETH) and ADA are coins (as they have their own blockchains), the latter is considered to be a token. How does a simple ETH purchase look like? Spoiler alert: it takes several minutes and allows you to buy ETH with a credit card, bank transfer, or Apple Pay.Ĭan’t load widget Can’t load widget The Ethereum community should also be noted as one of the coin’s strengths – it is equally as passionate for crypto in general as it is for ETH itself. That adds unprecedented usability to the platform, giving it good long-term prospects. ![]() Additionally, according to etherescan.io, there are currently over 450,000 ERC-20 tokens out there – that means there over half a million tokens have been created on the base of the Ethereum blockchain network. The Ethereum network is vast and encompasses a wide variety of different decentralized applications that were built on it. Ethereum blockchain came to be well-known because of its smart contracts capabilities as well as decentralized applications ( dApps), decentralized finance ( DeFi), and non-fungible tokens ( NFTs).
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