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EOS vs Cardano (ADA) – Which Coin Holds More Potential?

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Cardano

Ever since Ethereum became the representative of the second wave of cryptos, there have been others that were trying to replace it. Right now, the battle for the representative of the third wave rages on, and whichever digital currency comes out on top, will probably replace Ethereum as the new favorite on the global scale.

Despite the fact that there are many cryptos competing to the title, EOS and Cardano (ADA) are among the top few. Because of that, we think that they deserve to be compared so that everyone would have some idea of what it might be expected in the future.

Cardano vs EOS

Both Cardano and EOS are the cryptocurrencies of the third generation, or the third wave, as it is sometimes called. They studied their predecessors, and have discovered that they lack in several aspects, which these cryptos are trying to improve, in order to provide users with better solutions. These aspects include sustainability, scalability, as well as interoperability.

Both of them are still being developed, which means that they might change a lot when their final versions are ready to come out. Still, we will take a look at them as they are now, and try to see what makes them worthy of being the winners in this cryptocurrency battle royal.

EOS

EOS is a cryptocurrency that currently holds the fifth rank as per CoinMarketCap. Its price is at $10.56 at the time of writing. The coin has just launched its MainNet and is currently in the process of transitioning. Its creator is Dan Larimer, who has had multiple major cryptos and blockchain-related projects in the last decade. As for the cryptocurrency’s owner, that is currently the company called Block.one, led by Brendan Blumer. This is the very same company that has developed EOS’ MainNet, called EOSIO.

EOS has received a lot of skepticism in the past, especially due to the fact that it is a rather ambitious project. Its goal is to create an Ethereum-like platform that would allow for creation and use of dApps. The platform is to be completely free, and it has already been witnessed that it can handle a colossal number of transactions per second. Both, the platform, as well as the smart contracts, are built via C++.

Cardano (ADA)

Cardano is a very young and new cryptocurrency that was founded by Charles Hoskinson. One interesting thing is that Hoskinson is actually one of Ethereum’s co-founders, who left the team in 2014 due to different views on how the project should be structured. After leaving the team, he started a new blockchain-building and crypto-governing company with Jeremy Wood, a former colleague from Ethereum, and they called it IOHK.

After the value of cryptos skyrocketed, the two decided to liquidate, and have apparently managed to receive enough to keep their company ‘open for decades’. This is when Cardano (ADA) came to be.

Cardano holds the 8th place on CoinMarketCap, and its coin’s value is $0.163766. It has been much more stable than almost any other cryptocurrency in the last six months, despite the fact that its value dropped after the crypto hype that was witnessed in December 2017. It is still being developed, but it seems to be on the right track and has had a lot of success when it comes to inspiring trust in investors.

The trust mostly comes from its extremely capable team, which is made up of professionals and academics. With a team like that and a leader like Hoskinson, it is clear that this crypto has a secure future, and that it knows what it is doing. This is also seen in their choice of a programming language – Haskell. Just like EOS and Ethereum itself, Cardano also offers a platform for smart contracts, and the security is one of its main focuses.

Cardano-EOS drama

Several months ago, the drama usually not associated with this kind of business circles occurred, and it involved Larimer and Hoskinson. According to what is known, it started with Larimer’s peer review article that was posted on Steemit. Without going into detail, the article basically attacked Cardano’s consensus algorithm, with Larimer calling it not only slow but also a copy of his own DPoS.

Hoskinson decided that he would not stand for it, and he responded on Telegram and said that Larimer claims to have invented everything, while everything else is junk. Larimer soon released another post on Steemit, which involved two comics that can be seen here.

So, Cardano or EOS?

Both Cardano and EOS are cryptocurrencies with a great amount of potential, and a lot is expected from both of them. Cardano’s MainNet was among this crypto’s first steps, and it came out back in September of the previous year. On the other hand, EOS just launched its own MainNet days ago, and it seems to be working, despite the rough start thanks to a certain glitch that was soon removed.

In the end, it is too early to say which of these has the biggest claim on Ethereum’s place, since they are still both in development. One thing that is certain, however, is that we can expect a lot from both of these cryptos. But, when it comes to which one will come out on top – that is anyone’s guess.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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