Cardano(ADA) is currently ranked 7th in the cryptocurrency market with a market capitalization of over 6 billion dollars, surpassing IOTA, NEO etc. Cardano is so ambitious that it is even called "Japanese Ethereum" or "Ethereum Killer". So what makes Cardano so special and competitive? !
Here are some of my perspectives:
1, Basic structure
Unlike Ethereum, Cardano separates the transfer and the reason, which are integrated together on Ethereum, resulting in the difficulty in information storage, into two layers named Cardano Settlement Layer(CSL) and Cardano Control Layer(CCL). Thus, Cardano can simplify the integration of transactions information, making it simple and efficient. Meanwhile, as a platform protocol, it can also be robust and flexible, realizing the combination of efficiency and security.
2, Proof of Stake
Ethereum is still a PoW(Proof of Work) protocol, which is a significant flaw, limiting its functioning efficiency. And now, Ethereum developers are switching to PoS system. But there is a long way to go. However, Cardano is born with a PoS system, more precisely "Ouroboros". It decreases energy consumption, avoids intentional hard fork by huge computational power owners, and enables more ADA owners engaged in election.
3, Academic background
Cardano team consists of Cardano Foundation, IOHK and Emurgo. It's worth noting that Charles Hoskinson and Jeremy Wood head IOHK team. Besides, Cardano has been in extensive cooperation with many prestigious universities, including Stanford University, University of Edinburgh etc. Based on peer-review mechanism, Crypto and ACN even published two papers from Cardano team!!!(In the middle is Charles Hoskinson↓)
4, Update frequency
On the official website of Cardano(https://www.cardano.org/en/home/), the team updates program progress, new codes and audit reports weekly, suggesting they are seriously pushing projects forward.
5, Privacy and supervision
Nowadays, national authorities are mostly ambiguous about cryptocurrency. They deeply understand the importance of blockchain technology and its applications, but they cannot conduct strong supervision. However, for Cardano it may be a chance to embrace proper regulation. Cardano has a very rigorous but transparent censorship on smart contract and transactions, which will facilitate a proper supervision from governments. Personally, I think it's good for the long-term development of Cardano. After all, crime never dies out.
6, Investment background
According to some investment data, nearly 90% of Cardano investment is from Japan(That's why people call it "Japanese Ethereum"). So Cardano is very potential if it draws American or Chinese VCs' attention.
In conclusion, I'm optimistic about the future of Cardano as a powerful competitor against Ethereum. The unique design and obvious advantages of Cardano will finally convince the world of its security and utility in a real world.
