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Cardano vs. Ethereum: The real King of Smart Contracts.
There cannot be any doubt that Ethereum is the King of the Smart Contract and decentralized apps world. It has all the powerhouse decentralized applications such as Compound, Uniswap, AAVE, Curve Finance and MAKER firmly in its corner. And that's just to name a few. Their ecosystem is huge and their stablecoins such as USDT, USDC and DAI have made Ethereum their home as Ethereum's massive user base is the envy of all its challengers. Without needing to say this, the Ethereum fandom is really powerful.
But let's not make the size now of the Ethereum network make cloud on our vision.
In this game, size is everything. And Ethereum boasts the largest developer community, even bigger than Bitcoin, dedicated to strengthening Ethereum as the future of finance.
Well, it does have a point. But let us not also forget about Cardano's creator, which is CharlesHoskinson, who was once a co-founder of the Ethereum network.
He has learned from the mistakes of Ethereum and currently is building something that is better and stronger. A clear advantage is that Cardano offers staking support to small balances, which is a big win for the everyday person wanting to have a place in the world's financial future. With Ethereum, you need a minimum of 32 ETH to stake, which will price many out of the the earning potential of the staking.
A huge stake behaves eventually like a guarantee that makes only serious stakers or participants get to validate the system. And the larger the stake, then the bigger the commitment. Anyways, decentralized staking pools are rolling out that will make staking accessible for everyone. Although it have to say that the jury is out on which staking strategy will result in a more secure and stable system. Only time is gonna tell here
And time is indeed running out for Ethereum. I am not some kind of a programmer, but the word "programming" on the Ethereum network isn't easy. On the side of Cardano, there is a programming language that was proposed, which will let everyone or anyone in the Cardano to make or create their own smart contract, even if that they don't have any knowledge about programming. This could potentially make onboard very much more varied talent into the project and can result in the creation of exciting and new applications that previously was unthought of.
But the sad reality there is, is that Cardano is a smart contract platform but still doesn't even have a smart contracts.
Currently, Cardano is like still swimming inside the womb when it comes to the terms of development comparing to Ethereum that has been supporting all smart contracts since the year of 2015.
Ethereum really is the undisputed, currently unbreakable King of smart contracts as of today. But we know how fast the cryptocurrency universe changes and the future is truly in anyone's hands.
A vulnerability, critical one, might topple the Ethereum network, and I'm pretty sure and betting that it will be Cardano, the one that can scoop up the title.
But, Cardano isn't ready yet to step in that ring. It cannot compete until it's smart contract skill is developed. Plain and simple, it's just not a worthy contender at this stage.
So for everyone reading this, what does the future of smart contracts and dApss look like? Which blockchain is your money on?
Leave a comment and share your ideas on what your future holds with these projects.