Skip to main content may receive compensation from affiliate partners for some links on the site. Read our full Disclosure here.

Cardano Outstripping Bitcoin?

Smart contracts are the wave of the future.

Everything from Defi, NFT’s, and other digital financial services are all reliant on smart contract technology, and so far the two best platforms for all of that seem to be Ethereum and Cardano.

Cardano recently rolled out its Alonzo White hard fork, and this has brought the platform one step closer to implementing smart contracts.

Some pundits are saying that this could spell trouble for Bitcoin. After all, Bitcoin hosts no smart contracts and functions purely as a currency or a store of value.

Where will Bitcoin fit into a financially decentralized ecosystem that is increasingly moving towards the implementation of smart contracts?

I think only time will give us answers on that one, but the concerns are clear.

The internet seems to be buzzing with news on the future of Cardano:

ZY Crypto gave some reasons as to why Cardano may be a better alternative to Bitcoin:

Another noteworthy development is Cardano’s adoption rate, which is putting it in close range with platforms that exclusively focus on Bitcoin and Ethereum. Grayscale’s addition of Cardano (ADA) to its large market capitalization fund is an example of the asset making its way to the top. At present, the asset is the third largest component of the fund, just after Bitcoin and Ethereum.

What-to-date returns is also another metric that puts Cardano in the front seat. Against Bitcoin, Cardano investors would’ve made significantly higher returns. As Finance website Gobankingrates observed, investing $1,000 in Bitcoin one year ago, going by Bitcoin’s July 1st trading price of $36,277, total profits would be sitting at an estimated $2,786. Investors who put the same amount in Cardano (ADA) would’ve made $20,966, making the latter a promising investment asset for market players.

Bein Crypto had more on the Alonzo White hard fork:

Cardano’s Alonzo hard fork has been successfully deployed, according to developer Input Output Hong Kong (IOHK). In a series of tweets published on July 15, IOHK said that the “network is happily making blocks already.”

The Alonzo hard fork is a key moment along with Cardano’s roadmap, paving the way for smart contract functionality. The full release has a tentative release date of August. It would bring several significant changes to the Cardano network, including the ability to host decentralized finance (DeFi) applications.

Many are expecting the potential and utility of ADA to explode following this release, which is the culmination of years of development if one looks at the carefully calculated roadmap.

Want more? To stay up to date on all our news, please follow us on Facebook here:


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

We Love Crypto
Thanks for sharing!
Send this to a friend