Nothing is guaranteed to last forever, especially the things that become popular for a short period. Because something better will take over it shortly unless the base term decides to upgrade itself for maintaining its popularity in the market.
In the same way, the cryptocurrency market has one big bull known as Bitcoin (BTC). You may already know that Bitcoin is the far most the best crypto asset for investors in terms of popularity and investment potential.
However, Bitcoin is not the only coin that wants to stay at the top of the ladder. There are numerous other currencies out there making more efforts to provide an even better environment, transaction speed, and fewer fees compared to it.
There are mainly three strong competitors in the market at the moment. SOLANA, CARDANO, and ETHEREUM. All of these smart contract currencies are very popular among investors because of their respective features. But which one is better competition for grabbing the first place? Let's find out!
The first competitor worth monitoring is SOLANA, running on one of the fastest blockchain systems in the segment. SOLANA is the native token for the service. Claiming to be more secure and fast compared to Ethereum, the coin went through many price hikes in the last few months. Giving a tough competition to popular cryptocurrencies like Cardano and Ethereum.
Solana blockchain is involved in a lot of new projects and launches recently. With a $52B market cap, Solana is Providing a robust blockchain system to new startups in the market, completely changing the crypto industry. Not to mention it can process up to 65,000 transactions per second, making it faster than other competitors on the list. This smart contract-based blockchain system is full of potential to dominate Ethereum and similar currencies.
CARDANO (ADA) is one of the coins that has been in the limelight lately. Not to mention the coin has returned a drastic 150% of return on investment to the investors, many investors are taking interest in this currently backed up by the powerful Ethereum blockchain. Developed by the co-founder of Ethereum, Cardano currency is getting more attention in comparison to SOLANA and other tokens.
Not to mention it has a tremendous market cap of more than $70B. That proves the importance of ADA in the current market. As Cardano is running on the ETH blockchain, investors prefer to go with ADA when it comes to long-term investments. In addition to that credibility, CARDANO will undergo a new update known as "Alanzo". Introducing the smart contracts system to the environment is out to be better than other smart contract platforms.
The world's second-largest cryptocurrency, Ethereum is nothing new to talk about. Because the majority of people know about Ethereum as it is circulating in the market for a long time. Not to mention that the gas fees are pretty high than others. Talking about the future of Ethereum, the platform will introduce Ethereum 2.0 in the upcoming year. That is more effective as it will use a proof of stake algorithm after successfully upgrading to Ethereum 2.0.
In terms of overall market value and transactions, ETH has an upper hand at the moment. But the only drawback Ethereum is having is above-average transaction fees. Also known as Gas fees, the Ethereum users need to pay a high amount whenever initiating a transaction. Meanwhile, the transactions per second (TPS ) are also very low when compared to Cardano and SOLANA. These problems are the main reason why Ethereum is not pulling on BTC till now.
All three of them are smart contract-based cryptocurrencies. Hence the competition between them is obvious. But if we look at the facts and potential of each coin, Cardano and SOLANA both are capable of crushing Ethereum for sure.
However, the comparison is narrowed down to future usability and scalability with other terms. In that case, Solana blockchain seems a clear winner in terms of performance, in addition, the coin has still held its value over BTC in the market recently. So SOLANA or Cardano is a winner for sure in the upcoming years.