September 26, 2022

Cardano (ADA) Jumps 25%, Overtake’s Ripple’s XRP As The Fourth-Biggest Cryptocurrency

3 min read

Cardano’s ADA is now the fourth-largest cryptocurrency by market cap dismissing Ripple’s XRP. Today, the ADA price has actually surged an enormous 25 %and is currently at $0.66 with a market cap of $20.9 billion.

Over the last week, Cardno’s ADA rate has risen a massive 90% pressing it within the top five crypto ranks. Surprisingly, ADA has been one of the top-performing altcoins so far in 2021 with its cost increasing 4x with a solid 300% gain. The current cost rally occurs on the backdrop of a variety of advancements taking place on the Cardano network.

There’s some enjoyment about the introduction of smart contract performance on Cardano which will give designers the options to create and deploy their own decentralized applications (DApps). On the other hand, the IOHK team, the advancement team behind Cardano, revealed that platform users can now create their own customized tokens and use them on the network.

This feature comes as part of the “Goguen Mary” upgrade on the Cardano platform. All the custom-made tokens will work on Cardano’s mainnet, meaning users can use them just like the existing ADA native cryptocurrency.

With this upgrade, Cardano will become a multi-asset blockchain network wherein ADA remains the “principal currency”. IOHK Marketing and Communication Director, Tim Harrison writes:

“This MA ability will end up being a fresh development fulcrum for designers worldwide, further widening Cardano’s reach and potential.”

Based on the main statement by IOHK, the team has successfully released the Goguen Mary update through a difficult fork o the network.

Charles Hoskinson: Cardano Will Be Much Better than Ethereum 2.0

Cardano creator Charles Hoskinson recently appeared in an interview with BitBoy Crypto founder Ben Armstrong. Criticizing the developments with Ethereum 2.0, Hoskinson said that his project will be better in the future. Hoskinson casts some doubts over the sustainability of Ethereum 2.0.

Slamming the Ethereum 2.0 scaling design, Hoskinson stated that it is much easier for Cardano to attain higher deal throughput (TPS). He added:

“We’ve selected a significantly different scaling models. And really I think both of them have the potential working, but I think Vitalik’s are a bit riskier from an engineering and research study viewpoint. This is why it is so difficult for them to get Eth 2.0 out. They have picked to shard all that stuff. We do not need to shard. We can get a thousand TPS on the base level and including Hydra we can get to whatever we desire. […] Because of UTXO Cardano is much easier to shard”.

Additionally, Hoskinson called Ethereum 2.0’s method risky and not scientifically shown.

The post Cardano (ADA) Jumps 25%, Overtake’s Ripple’s XRP As The Fourth-Biggest Cryptocurrency appeared initially on Coingape.