Cardano v. Ethereum: How one transaction on Cardano covers 100s on Ethereum


Share:
  • Cardano powers the transfer of 100s of cryptocurrencies in a single transaction, a feature absent in the Ethereum and the Solana network. 
  • As Cardano nears the Vasil hard fork and Ethereum approaches the merge, analysts have racked the two competitors against each other in features and scale. 
  • While Ethereum price hit its monthly high of $1,640, analysts are bullish on Cardano and predict a retest of $0.55. 

As Cardano’s Vasil hard fork and Ethereum’s Merge is fast approaching, the crypto community pitted the two competitors against each other, comparing features and scale. Cardano successfully powers the transfer of 100s of different cryptocurrency assets in a single transaction, a feat that takes 100s of individual transactions on Ethereum or Solana. The development activity on Cardano has remained consistently high over the past two months. 

Also read: Cardano Vasil hard fork is right on time, developer debunks possibility of delay

Cardano v. Ethereum: Features and scale

Lucid, a pseudonymous crypto analyst, compared Cardano to its competitors Ethereum and Solana and argued that:

On Cardano you can send multiple assets in a single transaction. That means on Cardano you can send 100 Assets to different addresses in one single transaction. This would take 100 separate Transactions on Ethereum or Solana and totally destroys any TPS argument.

Cardano, therefore, does in a single transaction what Ethereum or Solana networks would do in a 100. Transferring multiple assets is key to traders on the ADA network and the Cardano community, as assets can be moved around on the ADA network instead of placing trust in a third-party service provider. 

This feature is critical for users looking to buy multiple NFTs and tokens, efficiently organizing them from the buy wallet to hardware wallets. If a user is intent on emptying a wallet, this feature could come in handy, making the Cardano network preferable to Ethereum. 

Cardano took first place in development activity

Development activity on the Cardano network exceeded Ethereum and competitors Solana. Cardano, Polkadot, Kusama, Ethereum and MIOTA took the lead in development activity in July 2022. Santiment measures Github activity beyond the mere quantity of submissions. 

Cardano development activity

Cardano development activity

Analysts believe Cardano price could retest $0.55 soon

Analysts at FXStreet evaluated the Cardano price trend and noted that the altcoin has bullish potential. ADA price looks ready to retest the $0.55 level in its ongoing uptrend. For more information and critical price targets, check the following video:

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Coinbase to list Arbitrum with experimental label, warns users to send ARB only over Ethereum network

Coinbase to list Arbitrum with experimental label, warns users to send ARB only over Ethereum network

In a March 22 announcement, Coinbase revealed intentions to support Arbitrum’s upcoming native token, ARB, by listing it for trading on the largest cryptocurrency exchange in the United States. The disclosure was bountiful, featuring several other details for Arbitrum users.

More Cryptocurrencies news

TRON price crashes 12% as SEC charged founder Justin Sun for violating securities laws

TRON price crashes 12% as SEC charged founder Justin Sun for violating securities laws

TRON price plummeted on March 22 after the cryptocurrency became the new target of the ongoing regulatory crackdown in the United States. The Security and Exchange Commission (SEC) is now looking into Tron founder Justin Sun’s company and related entities of the altcoin’s ecosystem.

More Tron News

ApeCoin price at crossroads, looks to retest February highs amid the alt season but there's a catch

ApeCoin price at crossroads, looks to retest February highs amid the alt season but there's a catch

ApeCoin price is at crossroads after trading within a symmetrical triangle on the one-day chart. The altcoin is in a neutral formation reliant on the impending breakout that will determine the direction of the next move. The pattern contains at least two lower highs and two higher lows.

More Apecoin News

Dogecoin Price Forecast: DOGE coils up for an upswing as alt season clocks in

Dogecoin Price Forecast: DOGE coils up for an upswing as alt season clocks in

Dogecoin price has heeded the invite to the alt season to trade with a bullish inclination and record more gains for investors. Despite overhead pressure due to multiple supplier congestion zones, DOGE bulls have put the right foot forward and now the meme coin is preparing for another northbound move.

More Dogecoin News

Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder

Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder

US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge. 

Read full analysis

BTC

ETH

XRP