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Cardano (ADA) Poses As A Threat To Ripple (XRP) And Ethereum (ETH)

Cardano | Ripple | Ethereum

The Cardano platform and coin will give the more popular coins of Ripple (XRP) and Ethereum (ETH) a run for their money. Why? Let’s talk in detail.

CARDANO (ADA) v/s RIPPLE (XRP)

Cardano is posing a threat to the much popular coin Ripple, in the following ways.

  1. The Cardano (ADA) cryptocurrency is a very fast means of direct transfer of money on the blockchain. The exact duration or transaction speed is not yet disclosed. This means if it were to be faster than Ripple’s estimated 3.3 seconds, it is going to top the charts as the fastest cryptocurrency.
  2. The Cardano platform is designed so as to run financial applications can be used for routine activities by common people such as you and I, by organizations and governments. But in contrast to xCurrent, xVia and xRapid, the Cardano platform is being constructed in layers which will give the system the flexibility to be more easily maintained by allowing for upgrades via soft forks.
  3. The most important is the price bit. ADA is way cheaper than Ripple (XRP) in the crypto markets right now. Since Cardano project is run as a non-profit, there is not much buzz around the coin. However, the team is concerned with delivering on the project objectives. Cardano’s current market price of $0.164 is roughly 27% that of Ripple right now.

CARDANO (ADA) v/s ETHEREUM (ETH)

Ethereum (ETH) smart contracts look vulnerable and risky in the case of the Parity incident where a random user was locked up over $200 Million of Ether, indefinitely in the smart contract. Such an incident led a joint group of researchers from the National University of Singapore (NUS), Singapore’s Yale-NUS College and the UK’s University College London (UCL), to get more in touch with the extent of the vulnerabilities.

The researchers observed how they downloaded 970,898 live smart contracts and tested them for security vulnerabilities using their proprietary software known as MAIAN. This software was able to identify vulnerabilities within 10 seconds of testing each smart contract. Out of close to a million smart contracts, 34,200 were found to being vulnerable with 2,365 of them being highlighted to being at a greater risk than others.

The Cardano (ADA) platform will have the capability of offering smart contracts. Thus, the popularity of Ethereum as the go to platform for smart contracts and ICOs will be threatened as more and more options pop up from Cardano.

Thus, Cardano seems like it will takeover Ripple (XRP) and Ethereum (ETH) in the coming times now. Although the coin is undervalued, but with the numerous advantages it has to offer, it will be a safe bet to invest in ADA rather than investing in Ripple or Ethereum.

 

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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