- Cardano vs Ethereum, which one will win the smart contract race?
- Crypto investor Lark Davis recently tweeted his thoughts on the matter.
- Presently, ADA price is $1.19 while ETH price is $1,789.
— Lark Davis (@TheCryptoLark) March 22, 2021
Cardano (ADA) seems like it is battling Ethereum (ETH) over platform functionality based on smart contracts nowadays. This has opened the door to a Cardano vs Ethereum smart contract race discussion.
With that said, Cardano digital currency has no smart contract yet. The ADA team has taken a long-term approach on creating a smart contract for the Cardano blockchain network.
Not long ago, Cardano created its Proof-of-Stake (PoS) blockchain. However, ADA built its PoS specifically on a consensus protocol called Ouroboros. However, the ADA Ouroboros protocol validates crypto transactions without any high energy costs.
Meanwhile, Ethereum already has its smart contract developed. In fact, its open-source smart contract makes it easy to build lots of decentralized applications (DApps) based on blockchain.
Also, the ETH smart contract provides a much more crypto-focused experience based on blockchain. What is more, it enables the creation of Non-Fungible Tokens (NFT), Stablecoins, Decentralized Marketplaces, Derivatives Trading, Tokenized Shares, and more.
In terms of trading, Ethereum smart contracts enables crypto lovers to lend, borrow, and do more crypto-related activities within the crypto space. Concerning its smart contract, Ethereum propels a lot more functions. Also, ETH remains the second-largest cryptocurrency by market cap.
Since the ADA smart contract is still under construction, Ethereum has gotten the upper hand for now.
Additionally, Cardano’s price is $1.19 with a 24-hour trading volume of $3,529 while Ethereum’s price is $1,789 with a 24h trading volume of $26,673 at the time of writing, according to CoinGecko.