In the last video, I compared some of the differences and advantages and disadvantages between Cardano and ETH2.0 and found that everyone is still very interested in this. So today I will compare Cardano I have done a lot of research on the advantages and disadvantages of Polkadot. I hope it will be helpful to everyone’s judgment. let's begin Look at the project to start from the beginning. What is the head is the founder So everyone should already know that the founder of Cardano is Charles Hoskinson, he is a mathematician Students born in 1987 studied mathematics and cryptography at the University of Colorado at Boulder Therefore, he has studied mathematics and cryptography so that he has a very solid foundation for his knowledge of cryptocurrency. This is also something that everyone cannot ignore. If you say that this person studied at the New York University School of Art He came to create this cryptocurrency project, then you have to put a very big question mark He himself actually only stayed in Ethereum for six months and he dislikes being called the co-founder of Ethereum very much. The founder of Napoca is called Gavin wood.
Born in 1980 with a PhD in computer science from York University, England In other words, Gavin wood is seven years older than Charles Hoskinson Seven more years of experience and seven more years of food. If you look at it this way, then there is no problem with the education of the two of them. They are fully compatible with computers and have a solid theoretical foundation. Gavin wood is also the founder of the web3 foundation. The web3 foundation is located in Switzerland They realize the management and utilization of resources by funding high-quality projects mainly to fund the construction of the network foundation of the district's centralization. Research and development team, so many of his projects now are funded through the web3 foundation So this Polkadot is the flagship project of the web3 foundation. There is also a technical team called parity, which is also composed of Gavin wood and other groups. The pioneers of blockchain founded by the team include some leading P2P network developers and inventors of consensus algorithms. Blockchain innovators wait for the famous substrate blockchain architecture It was founded by the technical team of parity Let the blockchain achieve a large-scale seamless connection, which means that pirty mainly provides technical support for the creation of a blockchain, and the Web3 Foundation passed Funding methods to develop the entire blockchain network This Dr.
Gavin wood is also the author of Ethereum's Yellow Paper and the creator of the Ethereum Solidity programming language. Now Ethereum Solidity programming language used It was created by Gavin wood, although the original idea of Ethereum came from V God However, the realization and implementation of technical details is still dominated by Gavin wood Therefore, Gavin wood has a very deep foundation in blockchain technology. It is said that no more than 100 people in the world can understand this yellow paper. Ethereum can develop to this day, Gavin wood is definitely a great hero Charles Hoskinson is IOHK Of course now they changed their name to IOG because they used to be in Hong Kong and now they moved to Wyoming, USA.
He is the founder of IOG. This IOG is the technical development team There is also a company in Japan called emurgo which is a venture capital company under Cardano There is a Yoroi wallet on the Cardano official website, which was developed by emurgo yoroi means armor in Japanese. I guess they may have made this wallet as solid as gold soup. Let’s finish the conversation. With the company, let’s talk about which technology has more advantages, or is still evenly divided.
Let’s take a look at the first one is Polkadot Kusama Polkadot’s test network allows developers to freely test their ideas and various functional bugs on it Delivery after confirming that there is no problem So why is it called a canary? That’s because the respiratory system of a canary can Accurately sense the harmful gases in the air to inform the miners of the current environmental hazards, so Polka uses this Let’s compare that after trial and error on the Canary Network, deploying to Polkadot can prevent many problems in advance.
On the other hand, Cardano uses a peer-reviewed method to use papers and theories Supported in theory. Secondly, he chose to write all the code from scratch. And use a language not commonly used in the industry called haskell as the underlying development language of Cardano The reason is that it is safe, so Cardano's own genes are safe Cardano and Polkadot are both POS models may be due to Gavin wood, the founder of Polkadot, was originally from Ethereum So many of Polkadot’s technologies are very similar to Ethereum 2.0 It uses a hybrid mechanism called Grandpa/babe, which is said to be able to reach a processing speed of 1000tps He also claimed that after having parachain The highest tps can reach 1 million.
Currently Polkadot can access about 100 parallel chains On the other hand, Cardano also has some original things of its own and its biggest feature Is the use of layered technology, one is the settlement layer and the other is the calculation layer These two layers can be understood as two completely different chains settled into an improved version of Bitcoin. The transfer of value is mainly achieved through Cardano, just like the transfer or storage of value in Bitcoin Calculate as main The consensus mechanism used by Cardano to provide computing support and run smart contracts is called Ouroboros (Ouroboros), which can process hundreds of tps per second. But through the Hydra Agreement is the Ouroboros Hydra Agreement (Ouroboros Hydra) It can also be expanded to a processing speed of 1 million times. Cardano is still a long way from the complete completion of his project. It is in the GOGUEN stage that the upgrade of GOGUEN will be implemented at the end of February, when the smart contract will be launched soon Cardano is now said to be the most decentralized public chain in the world Ada’s current circulation is about 31 billion, and Polkadot is only about 900 million.
So from this point of view Ada's price It will definitely be lower than the price of Polkadot. The simplest understanding is that the larger the circulation, the lower the price because of the large quantity. The smaller the circulation, the higher the price, because it is relatively scarce. From the perspective of money distribution Ada's 31 billion coins are basically scattered in the hands of investors For Polkadot only 50% So it seems that Polkadot’s chip concentration is still relatively high. In terms of ecological construction, Polkadot There are currently more than 350 projects under construction, which is significantly worse than Cardano’s ecology. Basically There are only a handful but they have a mysterious weapon that is the ERC-20 converter This tool can convert projects on Ethereum Moved directly to the Cardano chain This has prompted many projects that do not like to be built on Ethereum and have no choice but to move quickly. For Polkadot, what I’m talking about is that currently there are only 100 slots available for auction. In other words, he currently only has 100 dapps at most, so the quality of these dapps must be very high. And Cardano does not have this limitation.
At present, Polkadot and Catano are not as strong as Ethereum because Ethereum is preemptive. He set up an innate advantage but these two projects Although they were established late, they also have the advantage of being late Advanced technology can circumvent all the drawbacks previously committed by Ethereum. The two founders are in the cryptocurrency world with their very unique personal charms. It has a lot of fans, so the community is also very strong With a strong community as the backing, it will provide a certain degree of escort for the project In addition, the degree of code update on Github Both are also very active, indicating that both projects are progressing steadily and healthily. In terms of staking, Cardano’s total amount of staking now ranks first Followed by Polkadot Ethereum 2.0, the pledge ratio is much lower than the previous two. The number of Cardano wallet holders at the end of 2021 It is expected to reach about 1 million people. This is a very large number.
Also according to recent news IOG deployed the largest blockchain system in Africa using Cardano's chain Will attract 100 million users to use Ada within a year or two, and Polkadot's parachain auction card slot is about to start The ecological door of the entire Polkadot is slowly opened. Future development potential It is also not to be ignored that the tip of Maimang does not necessarily have only one king in the future. Each project can choose their own suitable public chain. To develop your own value Just like when Apple and Microsoft had Apple’s own ecology, Microsoft had its own empire, and they did not interfere with each other and compete with each other. Today, it has brought great value to human society and deeply affects each of us. The wheel of history is constantly moving forward. We are fortunate to be able to participate in its early stages of development Even as an investment purpose, it is also a support for the value of the entire blockchain. Looking back on today's historical events after a few years We can still proudly say that we participated Okay, today’s video is here.
I think it’s useful. Don’t forget to like and subscribe. See you next time..