Cardano(ADA) Will Compete on Par With Solana (SOL) Soon! Here’s Why?

Time Stamp: March 6, 2022 3:59 AM
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Charles Hoskinson, the founder of Cardano (ADA), has announced a series of planned enhancements for the ninth-largest crypto asset by market cap, which he claims will result in substantial speed gains.

Hoskinson claims in a new video that Cardano will be able to match the performance of Solana (SOL) and other smart contract-enabled blockchains later this year.

He says, this year, all of these changes will be released that will vastly improve the system’s scalability and expressiveness, allowing it to achieve the same level of performance as systems like Solana and others, or at the very least on the same scale.

Some of Cardano’s new features, according to Hoskinson, will go live in June and October of this year.

According to the smart contracts platform developer, ADA will be able to compete with other cryptocurrencies while also providing a strong and dedicated community.

“Not only do you get all the security, the correctness, the resilience and a great three-million person community but you also get the best of what competitors are bringing to bear.”

Cardano’s top three priorities, according to Hoskinson, for the next 12 months are “commercial comparability, sustainability, and self-determination.”

Cardano Sees 6x More Transaction Volumes Than Ethereum 

According to recent data from Messari, Cardano has witnessed six times more Ethereum transaction volumes in the last 24 hours, totaling $42.1 billion in gift value. In general, The platformranks first in on-chain activity, 24-hour transaction volumes, and adjusted transaction volumes.

Cardano surpassed the top two cryptocurrencies, Bitcoin and Ethereum, with $36.38 billion and $7.42 billion in market capitalization, respectively. Adjusted transaction quantity is still an excellent technique to isolate only the most important transactions.

The Cryptocurrency also surpassed Bitcoin and Ethereum in terms of adjusted transaction volumes, with a 24-hour volume of $41 billion vs $13.83 billion for Bitcoin and $5.94 billion for Ethereum.

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