Hello, everyone in this article we going to cover the topic Can Cardano beat bitcoin? The answer is no, Bitcoin is considered to be the 1st generation of cryptocurrency technology, with Ethereum’s “smart programmable money” and smart contract development placed in the 2nd generation. Improving on Ethereum’s expensive and energy-reliant processes, Cardano claims to provide the 3rd generation. While they both operate off their blockchain networks. Cardano only surpasses Ethereum with 5 to 10 years not earlier.
Right now, Cardano only has a total market capitalization of $11 billion approx. Ethereum has a total market capitalization of almost $ 156 billion approx. And if talk BITCOIN, has a total market capitalization of almost $329 billion approx. This is the main reason that cannot beat Bitcoin.
Cardano uses the Proof of Stake mechanism which is much more energy efficient and better for the environment while Bitcoin uses Proof of Work. The Proof of Stake mechanism allows only a limited number of devices to verify transactions at a time while the Proof of Work system doesn’t have such features.
Reasons to buy Cardano in 2023
- Cardano was mainly designed to eliminate some common issues which are scalability, interoperability, and regulatory compliance. Unlike other cryptocurrencies like bitcoin, Cardano is programmable.
- Cardano uses the Proof of Stake mechanism which is much more energy efficient and better for the environment.
- It allows only a limited number of devices to verify transactions at a time.
- Cardano can handle more transactions than bitcoin and Ethereum.
- Cardano is collaborating with government organizations and institutes to boost the development of Blockchain technology.
- Cardano provides a platform for developers, where they can develop smart contracts and decentralized applications (Dapps).
Cardano latest news
In a recent tweet, Cardano founder Charles Hoskinson took at Gemini, a popular cryptocurrency exchange founded by the Winklevoss twins, for refusing to add the ADA cryptocurrency. On Saturday, the Financial Times reported that Gemini was attempting to recover as much as $900 million from troubled crypto lender Genesis. Genesis is currently facing potential bankruptcy after its lending arm unexpectedly halted withdrawals on Nov. 16.
The top 2,000 whales on Binance Smart Chain bought Cardano, which become one of the most bought assets in the past 24 hours, according to WhaleStats, it’s a portal where you can track the activity of major crypto investors across the various network.
This is not the first time that binance holders are attracted by Cardano (ADA), and it has regularly been included in such news bulletins.
21.4 million Cardano (ADA) are currently held by the top 100 whales on Binance Smart Chain.
How to buy Cardano (ADA)?
Cardano ranks under the top 10 cryptocurrencies by market capitalization. It is designed in such a way that their mechanism Proof of Stake is much more energy efficient and better for the environment if we compare it with another cryptocurrency. Cardano provides a platform for developers, where they can develop smart contracts and decentralized applications (Dapps).
Cardano was mainly designed to eliminate some common issues which are scalability, interoperability, and regulatory compliance. Unlike other cryptocurrencies like bitcoin, Cardano is programmable.
What Is Cardano?
Cardano is a proof-of-stake blockchain platform, Cardano was created by Charles Hoskinson, the developer of BitShares and the Co-founder of Ethereum. Hoskinson had left Ethereum after a dispute with another co-founder, Vitalik Buterin. Charles Hoskinson created this network platform for the developer where they can develop smart contracts and decentralized applications (Dapps). It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.
Where Can I Buy Cardano (ADA) in India?
Here are some exchanges which are providing the easiest way to buy Cardano (ADA), and it is taking care of their users by providing safety, and security and a support system.
These exchanges provide you with-
- Best customer supports and services.
- As you are living in India it must have to support INR deposit.
- Easy withdrawal and deposit.
- Minimum spread (having buyer and seller no more price difference between buyer and seller)
- Have high volume of crypto transaction.
- If you are in trading, then it should offer a leverage.
These exchanges are-
Conclusion
Cardano cannot beat bitcoin, as we all know that Cardano created just to solve the problems which occurs in bitcoin. As bit is one of the oldest cryptocurrencies which provide safety, security and many more things. Bitcoin rank top in terms of market capitalization while Cardano rank 9th in terms of market capitalization.
- Bitcoin market capitalization is almost $329 billion approx.
- Cardano market capitalization is almost $11 billion approx.
