Is Cardano (ADA) Responsible for Ethereum (ETH) Woes?

Much has been said about Cardano (ADA) benefiting from Ethereum (ETH) grip in the dApp market and the current market scenario appears to support the same school of thought. The ETH price dips are getting the coin holder worried as the ADA investor is waiting on the flanks to welcome the dApp developer looking for shinier platform.

With the increased completion, the end game is better services, products and solutions that investor are looking for. Cardano appears to understand this too well and apart from impressing the user, it goes further to build lasting bonds with the communities it seeks to serve. Its inroads to areas where banking services are scarce are a clear indication it offers real life remedies.

Cardano Giving the Investor Confidence

The state of the art Cardano ecosystem has been built with the flaws of Ethereum system in mind and is set to woo more developers with most being drawn from those not happy with the competitor scalability and rising transaction fees.  This alone has contributed to the Ethereum woes given that there are also other platforms offering same solutions.

Ethereum is the dApp hub and most coins in the market enjoyed being hosted on the platform as ERC20 tokens. However, the outfit is seen to be abused by ICO that later transform to scams and this is one area Cardano is benefiting from.

Market Manipulation in the Background

The crypto verse acts like a no-man’s land and manipulation can never be ruled out. It only takes a few sharks to manipulate one system and drive investors to the competing outfit. A decentralized dApp platform does not have control of the projects it incubates and this is what has tarnished Ethereum ecosystem name with many projects like ICOs turning to scams thus manipulating the parent brand name reputation.

This has given Cardano the leeway to become the alternative pad for launching and maturing new projects. Cardano is repositioning itself for long term projects to be launched on its ecosystem. This way, it is poised to usher in a new breed in the crypto-sphere given that second generations crypto tech is being overtaken by new ones as the consumer demand goes high-tech.

Surprisingly, Cardano was created by Charles Hoskinson who doubles up as the competitor co-founder and IOKH, the company that is Cardano’s brainchild. This is one area keen crypto enthusiasts and lovers find it unusual. Could this be the link between Cardano rise and Ethereum fall?

Cardano Calculated Move to Rival Ethereum

The recent past has seen Cardano become the dApp and ICO hub an area that Ethereum has dominated for long. Cardano is safer and its smart contracts are backed by several layers that run independently. This way, all the information is secured and easy to share without exposing any week points for hacks or manipulation.

Cardano has already made its name even the remotest corners of the globe and has taken advantage of Ethereum inability to go for mass adoption due to its block size and the current mining algorithm that has been blamed for network congestion, slow transaction speeds that have made the platform too expensive for developing countries folks.

Price is good bait for mass adoption and Cardano offers a cheaper crypto verse entry point for ordinary adopters. ADA price is below the $1 mark compared to ETH $219 (at the time of reporting) and this is good enough when making investment decisions; staring small and growing in the system.

loading…

Be the first to comment

Leave a Reply

Your email address will not be published.


*