In a world full of scams and cons, the crypto market is no different. With so many new coins and ICOs being released daily, it’s difficult to tell which ones are worth buying. Both Cardano (ADA) and Solana (SOL) have great teams and both claim they can revolutionize their respective industries. But which one should you be investing in? Let’s dive in.
Cardano was created as an open source blockchain platform, with a primary focus on the Ada cryptocurrency. Cardano has very similar goals to Ethereum, namely the incorporation of smart contracts and DApps (decentralized apps).
Cardano aims to release multiple iterations of updates on their platform through a series of soft forks over time. This has caused some to believe that Cardano will continue to be an open source project for many years, with continuous input from the community. Cardano is currently at the top of the crypto market cap list, and could be a profitable investment for you. Solana is also an open source blockchain platform, with a focus on real-world applications.
Right now, Cardano can handle 250 transactions per second (TPS), with a two-minute finalization time. That’s better than Ethereum, whose current TPS is around 14 and finalization time is six minutes. But Visa can theoretically handle 24,000 TPS.
Cardano developers are developing Ouroboros Hydra, which will improve the network's scalability. The upgrade could occur as early as this year and could theoretically help Cardano reach 1 million TPS while also achieving near-instant finality.
Solana is a new cryptocurrency offering a unique combination of triple-layer security and convenience.
Solana users are able to store, transfer, and exchange any of their favourite cryptocurrencies using only their smartphones. By combining the latest developments in blockchain technology with the most advanced mobile technology, Solana is enabling users to make secure payments and transactions without the need for third-party infrastructure or centralized control.
Solana’s technology offers users three layers of security: encrypted messaging, multi-signature wallets, and two-factor authentication. Encrypted messaging helps users keep their wallets secure by allowing them to communicate with others about Solana payments without revealing sensitive information about the wallet. Multi-signature wallets are available to use once per wallet, requiring multiple signatures from multiple individuals in order to access funds. Two-factor authentication requires users to verify their identity both via a password and an additional PIN sent through text message or an app on their smartphone.
Which one’s better?
Solana and Cardano are both innovative blockchain projects that could disrupt the modern software and financial services industries. However, Solana is faster, cheaper, and better developed than Cardano. Solana’s ecosystem of dApps and DeFi products easily eclipses that of Cardano, and it’s better positioned to gain ground on Ethereum in the near term.Binance Free $100 (Exclusive) : Use this link to register and receive $100 free and 10% off fees on Binance Futures first month.
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