Day to remember, yesterday, for Cardano. The cryptocurrency of the professors, in fact, gave birth to one growth in the order of 20%, as a result of which it touched i 41 billion in terms of capitalization. But, above all, he finally achieved the podium in the relative ranking, touching one third historical position. Which confirms a trend which has lasted for months and which, according to experts and analysts, is due in particular to the continuous updating process to which the token was subjected by its group of developers.
A real boom on the wave of Coinbase's announcement
Specifically, however, it would have been the decision to push investors to make massive purchases Coinbase. The popular exchange, in fact, it included ADA in its negotiations, providing further endorsement to the project.
Which is heading towards a further key phase of its existence. The one that should make one key tool within decentralized finance. Attacking accordingly the positions held by Ethereum. A real mission that seemed uncertain until a few months ago and which, on the contrary, now seems to be part of the logic of things.
Is the clash between Cardano and Ethereum in the logic of things?
Ethereum killer: in this way Cardano has been indicated by several parties. The reason is to be found precisely in the fact that ADA aims to remedy some of the flaws in Vitalik Butein's project. From too high cost of gas needed for transactions. So much so that thanks to the latest updates, Cardano is able to ensure ridiculous costs compared to those of the blockchain competitor.
A fact that could soon push many of those engaged in DeFi to move on the Cardano network. All while already many companies have expressed their intention to do so, as stated by Charles Hoskinson, the founder and CEO of Input Output Global (IOG), during a recent interview with Bloomberg. In which he indicated their number in over a hundred.
Cardano is already PoS, unlike Ethereum
Among the factors that seem to give Cardano a decisive advantage, in the challenge with Ethereum, the one that is least talked about is perhaps the most relevant of all. Charles Hoskinson's project was born within the framework of a system based on the Proof-of-Stake (PoS) consensus algorithm. Unlike Ethereum which originally adopted the Proof-of-Work (PoW), converting only to the PoS race.
A conversion that requires a long revision work, whose exact times are not known. So much so that more than one announcement by Vitalik Buterin to this effect was later denied by the facts. By causing considerable damage in terms of credibility to Ethereum.
Conversely, Cardano does not lose himself in sterile announcements, he goes on like a train, towards his goals. Scanned by a five-phase roadmap which continues to hit the target, phase by phase. Enough to have pushed FD7, a Dubai-based investment firm, to sell a whopping $ 750 million in Bitcoin so you can buy ADA and Polkadot. It is Coinbase to take note of the trend by allowing its customers to start operations on Cardano. As did the rest of the Bloomberg Terminal.