Most of the attention in the cryptographic sector is often on the first coins that are on top in CoinMarketCap. Investors pay little attention to low-level coins. This presents a big obstacle for incoming coins. But there are some coins that have many hidden potentials.
This is the case of Cardano (ADA), located at number 7 of CoinMarketCap. But investors are still expressing doubts about its potential. But its nature makes it ideal and worthy of attention. Many speculate that it can compete with Ethereum (ETH) and Ripple (XRP).
Cardano (ADA): The Third Generation Cryptocurrency
Why is Cardano so unique? Its power lies in its unique identity as a third generation of blockchain.
This may not seem fancy. But this currency had the opportunity to examine its predecessors. He explored their faults and patched them up. For example, scalability, safety, among other aspects.
There is a great potential exhibited by Cardano even if it is not yet fully developed. An open source blockchain remains. It also allows the creation of smart contracts and DApp.
He made his first appearance as a concept in 2014. The currency began trading on October 1 after the launch in September 2017. The idea behind it was to maintain a perfect balance between crypto users and regulators. This idea has been successful so far.
Cardano vs Ripple
One of Cardano's main objectives is Ripple (XRP). Ripple intends to create safer, cheaper and more practical payment solutions. There is no doubt that it is in league with various financial institutions and banks. This is lightening the weight of the coin.
One of the reasons these banks are accepting money is because of the reputation of Ripple Lab. Furthermore, XRP is centralized and has many products that banks would like to use. It also has another advantage, it is very fast, which makes it ideal for both cross-border and local use.
Considering scalability, this is one of the reasons Cardano could beat Ripple. The coin has 20 seconds periods in implementation. It also has a proven ability to process 257 transactions per second. All this gives him an advantage.
This does not imply that Ripple is bad at scalability. The point is that Cardano-based architecture makes it a serious competitor. Ripple also has the potential to venture into smart contracts. This could qualify him to compete aggressively with Cardano.
Cardano has exhibited brilliant moves that you should pay attention to. It has an exceptional purpose in real life. That's why you should invest by learning the purpose and not just seeing hysteria in the cryptographic market.
Charles Hoskinson, CEO of IOHK and co-founder of Cardano, declared his vision for cryptography. He said: "I would like to see Cardano as the first trillion dollars cryptocurrency, the reason is that it means that we have built a self-sufficient economy." With these few indicators, it is much better to invest in Cardano.