When it comes to cryptocurrencies, there are a lot of things to take into consideration.
Their purpose, their team, their technology, and their price. Of course, these are just a few examples- but they’re important nonetheless. Out of all of these characteristics, price is probably the most talked about one. After all, what’s the point of investing in something if it’s not going to be worth anything? This is a valid question that a lot of people have when it comes to Cardano (ADA). Ethereum (ETH) is currently the second largest cryptocurrency by market cap and is sitting at around $290 USD. So, why is Cardano (ADA) so cheap compared to Ethereum (ETH)? Let’s take a look.
Cardano’s Technology
Cardano is a blockchain platform for smart contracts that was founded in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. It is developed by IOHK, a company that builds cryptocurrencies and blockchains for academic institutions, governmental organizations, and corporations.
Cardano’s technology is based on a research-first approach. The Cardano team consists of experts in mathematics, cryptography, and engineering. Cardano’s technology is designed to be more scalable, flexible, and secure than other smart contract platforms.
Cardano’s native currency, ADA, is used to power the platform’s smart contracts. ADA can be used to vote on decisions regarding the network, such as upgrades or changes to the protocol. If you want to know more about Cardano, you can visit this website and find out everything there is to know about it.
The Price of Cardano
Cardano (ADA) is a decentralized public blockchain and cryptocurrency project. It is one of the first blockchains to be built on the Haskell programming language. The development team behind Cardano is composed of a global collective of expert engineers and researchers.
The price of Cardano has been relatively low compared to Ethereum since its launch in September 2017. One reason for this could be because it was late to market and did not gain as much traction as Ethereum in the early days. Another reason could be that the Cardano community is still relatively small compared to Ethereum.
It did have a large spike in price in January 2018 when it surged from $0.26 to $1.07 in a matter of days, but it has since cooled off and stabilized at around $0.50.
Even though the price of Cardano is currently low, the long-term prospects for the project are very positive. The development team is extremely active and continues to make progress on delivering on their roadmap. With more adoption, awareness, and use case scenarios, the price of Cardano should continue to increase over time.
Conclusion
Cardano is still in its early stages compared to Ethereum, which explains why it is so much cheaper. With that said, Cardano has a lot of potential and could easily catch up to Ethereum in the future. For now, though, investors looking to get involved with Cardano should do so knowing that it is a risky investment. However, if everything goes according to plan for Cardano, those who invest early could see huge returns down the line.
