Have you ever questioned whether there is any competition for Ethereum? Ethereum is a dominant force in the crypto world and has been killing it on price, but Ethereum has also been killing it on gas fees. Likewise, Cardano’s price has been on a tear. However, these two cryptos differ in terms of their gas fees.
For example, @ADABreathes recently reported that in one day, there were $17.75 billion in Ethereum crypto transactions in a 24-hour period, where the gas fees were $28.8 million. During the same 24-hour period, $14.83 billion in Cardano (ADA) transaction volume cost only $4,039.70. This is a shocking difference, and is worth investigating further for those regularly involved in crypto transactions or crypto investing.
Many in the crypto universe have doubted that Cardano (ADA) is an “Ethereum-Killer”, but several new features are in the pipeline or have already launched. Many of these features are noteworthy. There is even an Ethereum ERC-20 token converter that is designed to ease the pain of transitioning Ethereum-based crypto transactions to the Cardano (ADA) blockchain.
It is very possible that Cardano smart contracts will be a threat to Ethereum. It may not be today or tomorrow, but the use case for Cardano is getting stronger. One important fact that not everyone knows is that one of the co-creators of Ethereum, Charles Hoskinson, created Cardano. He is aware of Ethereum’s weaknesses, and aims to address them with Cardano.
Beyond the potential for reducing gas fees, Cardano also has more exciting crypto news coming. Although some is still unknown, they have been working in Africa, Grayscale has the potential to launch an ADA fund, and Charles Hoskinson even offered to fix the US voting problems using block chain. All in all, it is an exciting time to be a Cardano token holder.