![]() Reports suggest that the Cardano network was swamped and faced severe slowdowns following the launch of SundaeSwap. Once it is up and running, this service should help bring things such as staking and NFTs to the Cardano blockchain. Last week, SundaeSwap launched on Cardano. However, Cardano’s promise may finally be set to become reality. It’s one thing to have a promising coin offering, it’s quite another to have a DeFi marketplace that can compete with the likes of Ethereum. For years, Cardano has been promising to launch smart contracts and other key features. Now, the big issue with Cardano has been getting it to provide greater functionality. That, in turn, allows it to offer transactions at a tiny fraction of the cost of BTC or Ether transactions. In doing so, Cardano uses far less electricity and computing power. This allows Cardano to dispense with all the crypto mining that is integral to keeping the blockchains up for older cryptos such as Ethereum and Bitcoin. However, he left Ethereum due to creative differences and founded his own coin to try to fix what he perceived to be the major flaws with Ethereum.Ĭardano’s main claim-to-fame is having one of the first secure proof-of-stake protocols. Founder Charles Hoskinson was part of the original Ethereum team. As long as something can be done about excessive transaction fees, Ethereum should continue to garner a large portion of the market for DeFi and NFT projects.Ĭardano is one of the longest-running of the aspiring Ethereum-killers. However, it has tons of programmers and active users and a whole host of applications that already work well on Ether. As far as decentralized finance and NFTs go, Ethereum is the leader of the legacy coins.Įthereum has many problems, there’s little disputing that. 1 primarily due to its brand name and investment merits. 2 in cryptocurrency by market capitalization, only trailing Bitcoin. And yet, Ethereum still runs the show, at least for now. There’s also great debate over the future of Ethereum’s new token creation and monetary supply.Īs such, many potential replacements - so-called Ethereum killers - have been created to try to overcome Ethereum’s perceived flaws. But others fear that a proof-of-stake protocol will cripple Ethereum’s security. Should Ethereum adopt a proof-of-stake rather than proof-of-work algorithm, and when will it happen? Many users say this switch is necessary to lower Ethereum’s often exorbitant transaction fees. There’s harsh debate over the future of the project. It is a legacy coin and has numerous limitations as such. Source: Filippo Ronca Cavalcanti / Įthereum has its problems. If you are an NFT believer, now is the time to be looking at these seven NFT cryptos: ![]() Or NFTs could be a valuable new asset class that are still in their formative stages. ![]() NFTs could be just another fad, a la Beanie Babies or Pokémon cards. If crypto can make a big comeback, people buying now will do very well indeed.Īnd perhaps no area of crypto is more promising yet speculative than non-fungible tokens (NFTs). While margin calls and capitulation rule the day, bargain hunters are out shopping. For the time being, however, it’s a liquidation environment in risky assets such as crypto.įor daring speculators willing to buy the dip, however, this could be a golden opportunity. It remains to be seen if the Fed will follow through on this, or if it is just talk. It intends to raise interest rates multiple times in the near future to get a grip on inflation. The Federal Reserve is intent on pulling liquidity out of the system. Just as high-flying meme and tech stocks have plummeted, crypto is now going down with it. And perhaps the linkage is most clear in crypto. ![]() All sorts of speculative assets are on the decline. The major cryptos such as Bitcoin (CCC: BTC-USD) and Ethereum (CCC: ETH-USD) have gone into freefall to start 2022.Īs the stock market - and in particular tech stocks - dropped, it appeared to cause a chain reaction. It’s an absolutely brutal time for the cryptocurrency market, including NFT cryptos. ![]()
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