Cardano, Ethereum, and Bitgert: A Comparative Analysis of Performance and Prospects
Cardano is a blockchain platform that aims to deliver more advanced features than any protocol previously developed. Cardano is the first blockchain platform to be built through peer-reviewed research and evidence-based methods. Cardano claims to offer scalability, interoperability, and sustainability that can run large-scale applications and systems.
Cardano has struggled to perform well in 2023. Cardano has also faced some volatility and correction throughout the year. The current market cap of Cardano is $9.4 billion.
Cardano’s 24-hour trading volume sits at $1.2 billion. One of the main drivers of Cardano's growth in market cap is the anticipation of its smart contract functionality. Cardano could launch it in September 2023.
This will enable Cardano to compete with Ethereum and other platforms that offer decentralized applications (DApps) and decentralized finance (DeFi) services. Cardano also has a strong community and a visionary founder, Charles Hoskinson, who is constantly working on improving the platform and the Cardano ecosystem. Next to Cardano, we are talking about Ethereum.
Ethereum is the second-largest cryptocurrency by market cap. Ethereum is the most widely used platform for smart contracts and DeFi. Ethereum enables developers to create and deploy DApps that can run on a distributed network of computers without intermediaries or censorship.
Ethereum also supports a native token, Ether (ETH), which is used to pay for transactions and computational services on the Ethereum network. Ethereum has seen a cautious retreat in 2023 after reaching a record high of $2,042 on February 20, 2023. As of August 24, 2023, Ethereum (ETH) is trading at $1,700, with a market cap of $196 billion and a 24-hour trading
. Read more on livemint.com
