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Can Cardano (ADA) overtake Ethereum in the field of smart contracts?

Can Cardano (ADA) overtake Ethereum in the field of smart contracts?

Smart Contracts are at the heart of Ethereum. It is they who promote Ethereum and not vice versa. Thanks to them, Ethereum has become such an important player in the field of cryptocurrencies. But that could change soon.

Cardano is a relatively new blockchain project initiated by one of the co-founders of Ethereum. The idea behind it is to apply scientific principles also in the area of ​​cryptocurrencies.

To create Smart Contracts on its platform and Blockchain Cardano offers the programming language “Marlow”. There is already an excellent use case for Marlow in the financial industry. This could prove to be a threat to the hegemony of Ethereum. As a result, even current escrow transactions could be a thing of the past.

When Cardano came out a year ago, he did not manage to grab the attention of the world of cryptocurrencies. On the contrary, many observers were skeptical as to whether the project could offer anything at all. Meanwhile, the stamina and hard work of the team has paid off.

The coin now ranks ninth in the largest cryptocurrencies by market capitalization. Charles Hoskinson, Cardano founder, has leaked some of the current projects to the public. So he wants to consolidate the position of the cryptocurrency in the top 10 and get the momentum. His goal is to make Cardano the leading third-generation blockchain platform.

Public projects include “Icarus” and “Yoroi”. Icarus is an open source programming codebase. This gives developers many new opportunities on the Cardano platform. Yoroi has only recently become known and concerns the development of a wallet that is already considered revolutionary. It should be incredibly fast, easy to use and at the same time very secure.

No, that's not it. But it could help in the future.

Since December, most coins have lost a lot of value. Cardano was also affected, but the young project survived everything and developed into a stable Altcoin. In addition, it has even grown. One must therefore see the situation in the context of market events and not interpret Cardanos as a failure.

Cardano's stability and reputation make many experts positive about the cryptocurrency. Some even assume the coin could be worth $ 10 by next year.

It could also contribute to some important strategic partnerships of the project. One of these is, for example, the cooperation with the large South Korean mobile payment platform Metaps Plus.

Conclusion

Recently founder Charles Hoskinson has been quite aggressive with other cryptocurrencies. This particularly affected Bitcoin and Ethereum. Now it remains to be seen whether the mass adoption and technological advances will bring Cardano to the place where Hoskinson wants to see the cryptocurrency in the future.

Can Cardano (ADA) overtake Ethereum in the field of smart contracts?

Sources: Twitter, OracleTimes, CryptoGazette, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/kann-cardano-ada-ethereum-im-bereich-der-smart-contracts-ueberholen/

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