After you get past the major names at the top of the list of currencies by market cap. The following candidates are basically interchangeable for many cryptocurrency investors.
However, supporters of Cardano (ADA) find various factors to set it apart from its competitors. Cardano has the ability to surpass major players like Bitcoin and Ethereum in the future.
Third Generation Project
Cardano stands apart from other digital currency projects for a variety of reasons. To begin, it identifies itself as a third-generation blockchain, implying that it aims to address issues that afflicted its predecessor coins and that have yet to be addressed more broadly across the industry.
Second, and probably more significantly, Cardano is still in its early stages of implementation. It’s a work-in-progress with a network that’s not yet fully operational. Supporters of ADA keep track of the coin’s development on their website, which contains detailed updates on the coin’s and network’s developments.
These advocates also predict that once the network is fully operational, Cardano will be able to dethrone some of today’s most renowned digital currencies.
Ethereum, Ripple, and Cardano
Ripple is one of the targets that Cardano developers have in mind (XRP). XRP has established a reputation for developing payment solutions that involve centralized agents such as banks. Because XRP transactions are so quick, they have a lot of potential for ordinary commercial applications.
Cardano could outperform XRP in terms of scalability. Cardano has experienced 20-second periods with a processing capacity of 257 transactions per second, according to Zycrypto.com. Although Ripple designs for scalability, Cardano takes a different approach to layer-based architecture that may give XRP a run for its money.
Ethereum is another candidate. Ethereum now leads the smart contract arena. However, Cardano aspires to provide smart contracts that are potentially more efficient than Ethereum’s. As a result, Ethereum’s reign as the top cryptocurrency may be coming to an end.
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