Cardano
$0.1108 2.72%
ADA · 2w

Why is there a need for a cryptocurrency like Cardano?

As dar as I understand, it doesn't seek to do anything too different from ETH 2.0. Consider the reason why cryptos other than Bitcoin even exist: multiple altcoins exist because there are some desirable properties that a decentralized currency can only have if another desirable property is traded for it. If Cardano has lower tx fees and times than Monero, the latter can still survive, because the level of anonymity provided by Monero can (as far as we know) only be achieved with proof of work, which is slower and requires higher fees (unless another desirable property, like decentralization, is traded for lower fees). Monero targets a different person that's willing to wait a little more for their transaction to go through if that means it can be anonymous. Sure, peer-reviewed research might find superior alternatives to proof of stake protocols that will be used by ETH 2.0, but if it whatever Cardano does turns out to be *strictly* superior to ETH 2.0 the latter's community can upgrade to that via a hard fork without any resistance. So why do we need another cryptocurrency? Either Cardano research will find strictly better ways to do things, in which case ethereum will adopt them soon and most likely win due to it already having more adoption, or Cardano will make some tradeoff to target a user with different requirements. Which one is it?
Go to self.cardano
Recent news