Bitcoin is the most famous cryptocurrency, there is no doubt about that. Second place belongs to Ether, which has become one of the most valuable currencies with its own blockchain network (Ethereum). But is it possible for a cryptocurrency to take the place of Ethereum? Many altcoins are said to be able to dethrone Ether and replace the Ethereum network, but so far none have succeeded; although Cardano may have the potential for it.
In this video we tell you what Cardano is and why it has become one of the blockchain projects with the greatest potential in history:
As we saw in the video, Cardano is a blockchain network that is set to become a kind of internet among other networks. This way, a person with Litecoin, for example, could send their crypto directly to someone who only has ether. This is currently only possible by arranging an exchange, as we explain in this video.
Technically, Cardano is the network, but it also has its own currency called ADA. ADA grew in value tremendously, increasing tenfold in just a few months. This corresponds to an aggressive advertising campaign by Cardano and its creator Charles Hoskinson, who was one of the three founders of Ethereum. The fact that Hoskinson is at the helm of Cardano is seen as a guarantee of confidence in the crypto world.
But despite the reputation that Cardano and ADA enjoy, everything is based on promises. The network is in the second phase of its development, which consists of four. This means that Cardano only introduced the ADA cryptocurrency, and that was in 2017.
Only time will tell if Cardano succeeds in replacing Ethereum.