Today one of the technologies that are evolving is blockchain technology. Bitcoin was the first blockchain technology that sought a lot of attention in the world.
Key Takeaways
- Algorand uses pure proof-of-stake (PPoS) consensus, while Cardano uses a hybrid consensus model.
- Algorand has a higher TPS (transactions per second) rate than Cardano.
- Algorand’s token is ALGO, while Cardano’s is ADA.
Algorand vs Cardano
Algorand aims to provide a fast and secure blockchain platform that can support a wide range of decentralized applications (dApps) and smart contracts. Cardano aims to provide a scalable and sustainable blockchain platform that can support a wide range of decentralized applications and use cases.
The platform of Algorand was launched and released in the year 2019 in June. This was launched to solve the problem related to the blockchain.
The Cardano is a platform that was launched On 29th September 2017. This was invented by Charles Hoskinson, who was the CEO and Co-founder of Ethereum.
Comparison Table
| Parameters of Comparison | Algorand | Cardano |
|---|---|---|
| Main function | This helps in employing a consensus level of security by preventing attractors From correcting the users taking control. | This is a technology that is used as a protocol since it uses no kind of Bitcoin code. |
| Language | This makes use of the transaction execution approval language. | This makes use of the Haskell and Plutus programming languages. |
| Year of Launch | This was launched in the year 2019 | This was launched in the year 2017. |
| Designed by | This was designed by the famous personality Silvio Micali. | This was designed by the famous personality Charles Hoskinson. |
| Characteristic | This technology was developed to employ the other technologies with the pure proof of stake, which deals in issues that shows scalability. | This technology was Invented, which helps in addressing the issues related to operability and ease of development. |
What is Algorand?
The algorithm loses a version called the PPOS, which is known as the pure proof of stake mechanism. This helps to select a person holding a token as a block producer.
The algorithm runs through a verifiable lucky draw which runs cryptographically according to the randomly selected committee members.
Algorand uses a distinctive feature known as smart contracts. The language through which this kind of technology proceeds is known as transaction execution approvable language.
What is Cardano?
The technology of Cardano was made to allow stakeholders allowing them to pool the resources they had together in a single pole known as the Stake pool.
These fix slots keep on rotating cyclically. Each epoch holds a set of pooled stakeholders. The stock leader for the present also selects the slot leader for the next epoch.
Cardano is an open-sourced code. This enables languages to put developers to contribute easily. The first project which utilized the Haskell and Plutus programming languages was the Cardano.
Main Differences Between Algorand and Cardano
- Algorand was launched by the famous personality Silvio Micali, and turn the other hand, and the Cardano was developed by the famous personality Charles Hoskinson.
- The term Algorand has 8 letters, and on the other hand, the term Cardano has 7 letters.
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Sandeep Bhandari holds a Bachelor of Engineering in Computers from Thapar University (2006). He has 20 years of experience in the technology field. He has a keen interest in various technical fields, including database systems, computer networks, and programming. You can read more about him on his bio page.
