Revolution and improvement is the key to human satisfaction. Every human makes efforts each day to get improved from the day before with the purpose of satisfaction.
It is still in the way of development. Blockchain is a growing network connected via cryptography, and the units which are connected are known as blocks.
Key Takeaways
- Cardano uses a proof-of-stake (PoS) consensus, while Ethereum currently uses a proof-of-work (PoW) consensus.
- Cardano is designed to be more scalable and energy-efficient than Ethereum.
- Cardano has a slower development cycle than Ethereum.
Cardano vs Ethereum
Cardano is a blockchain platform and cryptocurrency that was launched in 2017, and created by Input Output Hong Kong (IOHK), a blockchain company. Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications (dApps) and smart contracts.
Cardano is the first one of the 3rd revolutions of the blockchain. It has two inbuilt layers. These two layers allow for deploying more sets of rules in the smart contracts.
Ethereum is a decentralized blockchain platform. It is open-source and comes with smart contract functionality. The native cryptocurrency on the platform for transactions is ether.
Comparison Table
| Parameters of Comparison | Cardano | Ethereum |
|---|---|---|
| Organization | IOHK, Cardano foundation and EMURGO are the organizations behind the development of Cardano. | It is an open-source, decentralized blockchain platform. |
| Establish | Its development was started in 2015 and launched in 2017 | It went live on 30th July 2015. |
| Founder | It was developed by the co-founder of Ethereum, i.e. Charles Hoskinson. | It was proposed by Vitalik Buterin, and development was crowdfunded in the year 2014. |
| Native Currency | Cardano uses โAdaโ as the native cryptocurrency for the transactions. | Ethereum uses โEtherโ as the cryptocurrency for the transactions on the platform. |
| Maintanence | Cardano is managed by independent organizations. | Ethereum is an open-source platform where anyone can launch and run an application. |
What is Cardano?
Cardano is a blockchain platform. It belongs to the 3rd generation proofโofโstake.
What makes it different from the other blockchain platforms is its commitment to peer-reviewed scientific research for updating building blocks on its platform.
The organizations responsible for the development and management of Cardano are IOHK, Cardano Foundation and EMURGO.
The organizations mentioned above consist of two non-profit organizations, which are IOHK and Cardano, whereas EMURGO is a for-profit entity.
Cardano is also a smart contract platform and proved to be a good alternative to Ethereum. Atala PRISM, Atala SCAN, and Atala Trace are the products released by the organization of Cardano, which maintains the Cardano services and image.
What is Ethereum?
Ethereum is also an open-source, decentralized blockchain platform. It is the most active blockchain platform. According to market capitalization, Ethereum is the second-largest market after Bitcoin.
The programmer Vitalik Buterin proposed the concept of Ethereum in 2013, and then crowdfunded was organized in 2014.
It provides the service to the users of launching and running the decentralized applications on the server. Another updated version is beginning to progress, including various upgraded facilities.
It is still in progress and will be launched soon. It is also open source and comes with smart contract functionality. The reason for it being open-source was Vitalik Buterinโs vision, which saw this as a โWorld computerโ.
Main Differences Between Cardano and Ethereum
- Cardano uses โAdaโ as the currency for exchange, whereas โEtherโ is used by Ethereum for transactions.
- Organizations still maintain Cardano, whereas Ethereum is open-source and available to all.
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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.
