Once you learn the differences between Fantom (FTM) and Cardano (ADA), you will find it easier to decide which project best matches your trading strategy. Each of these networks tackles various problems in the market and caters to different clientele. Here’s some valuable insight into Fantom (FTM) vs Cardano (ADA).
What is Fantom?
Fantom operates as an all-inclusive DeFi ecosystem. The protocol combines a multi-token environment with a custom-built blockchain and more. The protocol has grown to be very popular, with the network reporting over 10 million transactions between its first 10 days of operation.
Fantom seeks to improve on many of Ethereum’s failures. The protocol provides high performance and much fewer fees when compared to earlier blockchains. The network’s scalability and combination of features continue to drive new users to explore its offerings.
What is Cardano?
Cardano entered the market in September 2017. The project is a popular third-gen blockchain that integrates scientific research methods into its creation strategy. The protocol has earned the nickname the “smart blockchain” due to its integration of academic principles and strategies.
Notably, Cardano was founded by two previous Ethereum developers, Jeremy Wood and Charles Hoskinson. The two decided to leave Ethereum, as they envisioned the need for a more flexible and cheaper alternative to support the growing demand for DeFi services. Today, ADA is one of the top cryptocurrencies in the world.
What Problems was Fantom Built to Alleviate?
There are a variety of issues that Fantom seeks to tackle head-on. For one, the protocol provides a viable alternative to developers in the Ethereum ecosystem. The network is completely EVM compatible meaning that converting or expanding to Fantom doesn’t require recording of Dapps.
Additionally, the network provides more scalability when compared to Cardano or Ethereum. The network features a second finality time that complements its high performance. The developers have stated they seek to push the network’s transactions per second (tps) to 300,p00 in the coming years.
Fantom was created to be easy to integrate into web3.0 applications. Currently, there is a lack of blockchains set up to handle this need. The platform was designed to support items such as smart home systems, healthcare, education, traffic management, resource management, environmental sustainability, and much more.
What Problems was Cardano Built to Alleviate?
Cardano seeks to answer the question, “Is there a better way to create a blockchain network?” The protocol aims to leverage centuries of the scientific method to produce a more efficient and secure network. One of its main advantages is that Cardano provides interoperability with public and private blockchains. This strategy reduces the cost of creating dapps.
Cardano’s development process has led to it being very secure. The network offers advanced security protocols for managing privacy, upgrades, and other valuable features. Cardano helps to drive crypto adoption by pushing more standards in the market. Standards help to increase innovation, which results in more user engagement.
Fantom (FTM) vs Cardano (ADA)
Cardano seeks to introduce the hydra scaling solution: This off-chain protocol would provide Cardano with performance on par with fourth-generation blockchains. Off-chain solutions like Hydra are becoming more popular than ever due to their lower costs and improved transaction times.
How Does Fantom Work?
Fantom leverages multiple layers and cryptocurrencies to improve the average DeFi user experience. The network is built over a decentralized blockchain that offers peer-to-peer transactions in a frictionless manner. The protocol has the Opera Core Layer which handles node management and other core processes.
There’s also an Opera Ware Layer and Application layer that handle stuff like validation and smart contract execution. Together these layers make the network very flexible. As such, there are a lot of cool features and offerings Fantom users gain access to.
The Mint protocol streamlines the creation of blockchain assets. The system is easy to use and removes technical barriers to the process. Users can create all types of digital assets including stablecoins, NFTs, tokens, and more. This system is flexible enough to support the creation of these assets including those with reserves.
fTrade is the Decentralized AMM exchange that powers the DeFi network. Users can trade their FTM tokens with other top-performing projects for secure returns. The exchange operates in a noncustodial manner which makes it safer than most major CEXs.
Users who want to secure returns can lend their crypto out to others using the fLend system. This protocol leverages large lending pools that generate interest to provide flexible loan terms with low-risk lender returns. You can secure returns without losing exposure to your original assets.
How Does Cardano Work?
Cardano leverages multiple development teams that use standards to ensure interoperability. The Explore IOHK engineering firm supports the crucial technologies behind the network. The network adds another layer to the creation process via peer review.
Cardano leverages a decentralized autonomous organization (DAO) to conduct all development decisions. The protocol enables ADA token holders to vote on and put forth proposals. Interestingly, ADA is named after the 19th-century mathematician, Ada Lovelace. She is credited as the world’s first computer programmer.
Cardano retains its validity using a new Proof-of-Stake (PoS) consensus mechanism called Ouroboros. Ouroboros provides better decentralization via a random block leader selection process. Block leaders approve transactions and earn returns for their efforts. The network also leverages snapshots called epochs to improve its validation times. These features reduce the amount of time that nodes need to validate the state of the network.
How to Buy Fantom (FTM) and Cardano (ADA)
Currently, Fantom (FTM) and Cardano (ADA) are each available for purchase on the following exchanges.
Bitstamp – Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world. This exchange currently accepts Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from purchasing most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
Fantom Vs. Cardano – Academics and DeFi Fun
Looking at these two networks, it’s obvious they were designed to serve different purposes. Cardona has the benefit of strong academic support. As such, it’s a viable option for researchers and academics alike. Fantom is geared towards DeFi users. The network has a ton of cool features to generate profits. As such, they both could hold potential in the future.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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