Cardano, more than a hedge against Ethereum?
In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the advantages the cryptocurrency has over Ethereum.
Guy told his 600,000+ subscribers that Cardano (ADA) currently takes roughly 8% of his portfolio. However he might consider stacking up.
According to the Coin Bureau host, Cardano serves as an important hedge in case Ethereum cannot live up to its name. Ethereum is currently the number one smart contract platform but transaction fees have been surging as of lately.
A reliable option
Cardano is positioning itself as a reliable option to Ethereum and announced the Alonzo hard-fork upgrade to be implemented this month. Following this upgrade, they will have smart contracts up and running on their network by summer this year:
“Like Polkadot (DOT), I see Cardano primarily as a hedge in case anything goes wrong with Ethereum… I am a huge fan of Cardano’s peer review approach to research and development. I have a feeling that Cardano will be running smart contracts much sooner than Polkadot which would theoretically make it the next runner up to Ethereum,” the Coin Bureau host said.
Currently there is not yet a huge group of developers expressing interest in developing on the Cardano blockchain. Nonetheless its community is strong and a majority of ADA tokens on the market are locked up in liquidity pools. This means that the tokens are not available on the open market. All Cardano needs is a little push.
“The problem is Cardano doesn’t have nearly as many developers itching to work on its blockchain as Polkadot. More importantly, Cardano isn’t able to test smart contract functionality in a real-world setting the same way Polkadot can with Kusama (KSM),” the host continued.
Powered by a strong community
“One big edge that Cardano has over Polkadot, and most other cryptocurrencies, is the size and engagement of the Cardano community. Some of my most viewed videos are about Cardano, and Charles Hoskinson’s YouTube channel seems to be growing even faster than mine.
More than 60% of all ADA in circulation is also being staked in nearly 2,500 staking pools. Cardano may not have as many dApps waiting to deploy as Polkakdot, but it probably has millions of people waiting to use them.”
It is obvious that there is huge potential here. Backed by a strong community, adoption by developers as a better and cheaper alternative to Ethereum is the way to go. Cardano is gearing up for some serious competition.
The post Cardano, more than a hedge against Ethereum? appeared first on iGaming.
Source: igaming
