Blockchain is the new revolution for the upcoming generation. The networking units which form the whole blockchain are known as blocks. Our upcoming generations are working on new technologies and making everything easier. That easier method includes making every technology shift to the digital platform.
The digital platform provides many features, such as more security, ease of use, availability, and fewer headaches. Such an invention was made for the money to be kept digitally. This digital capital is known as cryptocurrency. This cryptocurrency is the future of market capitalization and our upcoming world. Platforms are available for the exchanges, and Cardano and tezos are one of them.
Key Takeaways
- Cardano is a proof-of-stake blockchain platform, whereas Tezos is a self-amending blockchain platform that uses a proof-of-stake consensus algorithm.
- Cardano is more focused on academic research and peer review for the development of its platform, while Tezos has a more community-driven approach to development.
- Cardano uses a layered architecture approach to separate the platformโs functions, while Tezos allows on-chain governance to amend the protocol.
Cardano vs Tezos
Cardano is a blockchain platform for smart contracts, similar to Ethereum, but with a focus on security, scalability, and sustainability. Tezos, on the other hand, is also a blockchain network for smart contracts, but it emphasizes on-chain governance where stakeholders can vote on changes to its rules.
Coming over the separate platform Cardano is a platform based on the blockchain. Cardano represents the 3rd generation which implies proof of stake algorithm during development. It was built with two layers of architecture inside the system. The benefit of these two layers is that the deployment of rules in number can be increased for the service of a smart contract.
Tezos is an open-source platform for transactions that can also be termed cryptocurrency. It is also decentralized. Tezos was launched on 20 June and in the year 2018. It supports peer-to-peer transactions and also provides the services of smart contracts to its users. The Tezos platform was designed by an engineer named Arthur Breitman.
Comparison Table
| Parameters of Comparison | Cardano | Tezos |
|---|---|---|
| Type | Cardano is under the maintenance of organizations. | Tezos is an open-source platform. |
| Establish | Its development was started in 2015 and launched in 2017 | It went live on June 20, 2018. |
| Founder | It was developed by the co-founder of Ethereum, i.e., Charles Hoskinson. | It was designed by engineer Arthur Breitman. |
| Native Currency | Cardano uses โadaโ as the native cryptocurrency for the transactions. | Tezos uses โTezโ as the native cryptocurrency for the exchanges on the platform. |
| Technology used | Proof of stake | Liquid Proof of stake model |
What is Cardano?ย
There is no shortage of platforms available for exchanges and investments. Many of them are based on blockchain technology. Cardano is one of those platforms which are available with different services than others and a different cryptocurrency. Cardano is a platform based on the blockchain. Cardano represents the 3rd generation which implies proof of stake algorithm during development.
The feature which makes Cardano promising and different from others is peer-reviewed scientific research. This research is used in the procedure for updating the existing building blocks of the platform for better services. The exchange unit, which is also known as the medium of transactions on the platform as the native cryptocurrency, isโ ADA.โย
The platform Cardano was founded by Charles Hoskinson, who also co-founded the Ethereum platform. Ethereum is also a similar platform to Cardano. The idea was founded in 2015 and was launched in 2017. A platform like this is not possible with the efforts of a single individual, so many organizations helped in the development of Cardano and maintained it afterwards.
The names of the organizations involved are IOHK, Cardano Foundation and EMURGO. Two organizations among these from all the organization serves non-profit purpose (IOHK and Cardano), whereas the organization EMURGO is a for-profit organization.ย
What is Tezos?ย
Among all these platforms, the other platform which is based on blockchain technology is Tezos. It is an open-source platform that is based on blockchain technology. It serves in many ways, and peer-to-peer transactions are one of them. The other one which can be stated here is the deployment of smart contracts.
The cryptocurrency used for the exchange over the platform is โTez.โ It can also be termed as the native cryptocurrency for the platform. The symbol which is used to represent โtezโ is XTZ. The algorithm used for the development and procedure acts of Tezos is liquid proof-of-stake.
Tezos was designed by the engineer Arthur Breitman who also had the experience of working at Goldman Sachs and Morgan Stanley in the post of quantitative analyst. The timeline of the tezos includes the publishment of two papers by the Arthur Breitman position paper and a white paper in August and September, respectively. The year for the publishment of the paper was 2014. It also supports turning-complete smart contracts.ย
Main Differences Between Cardano and Tezos
- Many organizations maintain Cardano, whereas Tezos is an open-source platform.
- Cardanoโs establishment is started in 2015 and launched in 2017, whereas Tezos went live on June 20, 2018.
- The founder of the Cardano was Charles Hoskinson, who was also the co-founder of Ethereum, whereas Tezos was designed by the engineer Arthur Breitman who also had the experience of working at Goldman Sachs and Morgan Stanley on the post of a quantitative analyst.
- The native cryptocurrency used in the exchange of Cardano is โada,โ whereas, in Tezos, itโs โTez,โ which is used as the currency on the platform.
- The algorithm used for the development and maintenance of Cardano is proof of stake, whereas Tezos is developed based on the liquid proof of stake algorithm.
- https://tradingstrategyguides.com/cardano-cryptocurrency-strategy/
- https://www.emerald.com/insight/content/doi/10.1108/IJOES-12-2018-0185/full/html
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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.
