Blockchain is the new revolution for the upcoming generation. The networking units which form the whole blockchains are known as blocks. Our upcoming generations are working for new technologies and making everything easier. That easier method includes making every technology shifting to the digital platform.
The digital platform provides many features such as more security, ease to use, More 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.
Cardano vs Tezos
The difference between Cardano and Tezos is currency exchange used at platforms. The kind of cryptocurrency they are using for the respective platforms for the transactions are different. The platform Cardano is using a cryptocurrency known as ‘ada’ for the exchanges, whereas the Tezos platform uses ‘tez’ as the native cryptocurrency of the platform for all the exchanges.
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Coming over the separate platform Cardano is a platform based on the blockchain. Cardano represents the 3rd generation which implies proof of stake algorithm while development. It was built with two layers of architecture inside the system. The benefit of these two layers is that 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 as cryptocurrency. It is also decentralized. Tezos was launched on 20 June and in the year 2018. It supports peer-to-peer transaction and also provides the services of smart contracts to it 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 ‘ada’ as the native cryptocurrency for the transactions. | Tezos uses ‘Tez’ as the native cryptocurrency for the exchanges on the platform. |
| Technology used | Proof of stake | Liquid Proof of stake model |
What is Cardano?
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 while development.
The feature which makes Cardano promising 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, is’ ADA.’
The platform Cardano was founded by Charles Hoskinson, who was also the co-founder of 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 maintenance it afterward.
The names of the organizations involved are IOHK, Cardano Foundation and, EMURGO. Two organizations among these from all the organization serves with the non-profit purpose (IOHK and Cardano) whereas the organization EMURGO is a for-profit organization.
What is Tezos?
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 where 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 ‘Tez.’ It can also be termed as the native cryptocurrency for the platform. The symbol which is used to represent ‘tez’ 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 on the post of quantitative analyst. The timeline of the tezos includes the publishment of two papers by the Arthur Breitman position paper and white paper in August and September, respectively. The year for the publishment of the paper was 2014. It also supports turning-complete smart contracts.
Main Differences Between Cardano and Tezos
- Cardano is maintained by many organizations, whereas Tezos is an open-source platform.
- Cardano’s 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 the quantitative analyst.
- The native cryptocurrency used in the exchange of Cardano is ‘ada,’ whereas, in Tezos, it’s ‘Tez,’ 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 algorithm of liquid proof of stake.
- 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.
