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 is posing a threat to the much popular coin Ripple, in the following ways.
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.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.