It’s hard to find an asset that has outperformed Ethereum‘s (ETH 0.47%) 5,500% return over the past five years. The world’s top programmable blockchain certainly has its fair share of supporters in the crypto community, but there are some younger rivals making a push to dethrone Ethereum’s top standing.
Let’s take a look at why Cardano (ADA -1.36%) and Solana (SOL -1.19%) are two top cryptocurrencies that could outpace Ethereum over the next decade.
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1. Cardano
Cardano was founded in 2017 by Ethereum co-founder Charles Hoskinson, and the price of Cardano’s native token, Ada, has soared nearly 3,500% since its launch. It is now the ninth-most valuable cryptocurrency, carrying a market capitalization of $27.9 billion (as of April 26). Like Ethereum, Cardano’s blockchain allows for the use of smart contracts, or self-executed computer programs that run based on a set of pre-determined conditions.
But what separates Cardano from other networks is its thorough development process. New updates are introduced using a research-based, peer-reviewed system, ensuring that all opportunities and weaknesses are considered before any changes are implemented on the blockchain. Cardano’s final upgrade phase, known as Voltaire, will introduce governance features.
Thanks to its proof-of-stake (PoS) Ouroboros consensus mechanism, which lets token holders verify transactions based on how much Ada they own, Cardano can process 250 transactions per second (TPS) today. That’s far greater than Ethereum’s 12 to 15 TPS. Therefore, it’s no wonder that Cardano shows promise when it comes to decentralized applications. It is already working on real use cases in a range of industries, like supply chain tracking in agriculture and preventing counterfeit medicine in the healthcare sector.
Cardano still has a long way to go to catch Ethereum’s dominance, but its progress thus far is an extremely encouraging sign of things to come.
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