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

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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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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