Cardano cryptocurrency (ADA) founder and CEO Charles Hoskinson has projected that the currency Bitcoin BTC and Ethereum ETH to become the best cryptocurrency in the next one year. Hoskinson made the claims after cryptocurrency was ranked among the top ten terms of market size.
Bitcoin, Ethereum ETH and Cardano have some common features. However, as opposed to bitcoin, both Cardano and Ethereum use smart contracts. The two have become preferable choices among investors in the last one year because of their value. The recent crash in the market has showed that every coin in the market can be shaken.
Improved infrastructure and technology
Mr. Hoskinson and the entire team at Cardano are counting on the improvement of the technology as well as the infrastructure upon which the Cardano coin is built. The recent shocks in the digital currency market were caused by the fact that all cryptocurrencies can undergo major corrections.
Mr. Hoskinson says that although bitcoin is advertised as a mean of exchange and payment system, it has miserably failed to accomplish that purpose. He added that many abandon it after a few days of its use and opt for cash as well as other means like those offered by Bitpay.
Public launch of Cardano
The public launch of the Cardano was more a catalyst and unveiled the coin’s hidden potential. Going by the data from the recent months, the coin has gone through very turbulent and unstable time. Cardano is now undergoing recovery though at a slow pace. The coin is yet to fully recover the value that was lost during the January-February market crash.
Bitcoin and Ethereum have been through all the good and bad in the market. Being among the pioneer coins, they have been able to withstand several forces I the market. On the other hand, Cardano despite being a newcomer in the market, its development has picked up very well. Cardano is an open source blockchain that is built on three entities Input Output Hong Kong (IOHK), from Hong Kong, Japanese based Emurgo and the Cardano Foundation. Currently Cardano is keenly following events surrounding the ongoing debates about scalability and privacy regulation.