Many who invest their money in crypto currencies are wondering which crypto currencies will still exist in the next 10 years? In addition to Bitcoin, Ethereum and Cardano are on this list. And in this video we compare Ethereum and Cardano, we talk about price predictions of both and we talk about which cryptocurrency will emerge as the winner of both. And before we start, I would be happy if you give the video a thumbs up and subscribe to the channel, if you haven't already. The video isn't financial advice either, and I have both Ethereum and Cardano. What many do not know about Cardano and Ethereum is that both have a common history.
Even though Vatalik Buterin is known as the founder of Ethereum, Ethereum was founded in 2013 by 5 people and one of them was also the founder of Cardano Charles Hoskinson. Another founder was Gavin Wood, who later founded Polkadot, Charles Hoskinson is a mathematician who dropped out of his PhD to work full time in the cryptocurrency field. Vatalik is a computer scientist who dropped out of university for the same reasons and both Charles Hoskins and Vatlik Buterin met online in early 2013 during a training course on Bitcoin from Charles Hoskinson. And Hoskinson left Ethereum in mid-2014 after a disagreement with Vitalik Buterin. In fact, Charles Hoskinson wanted Ehtereum to be a for-profit project that venture capital supported.
Vitalik Buterin didn't want that. As a result, Hoskinson started a software project that we know today as Cardano. Basically, Cardano belongs to the Cardano Foundation, which is located in Switzerland. The development of Ethereum is also coordinated by the Ethereum Foundation, which is also located in Switzerland. Ethereum's market capitalization is almost 10 times that of Cardano. The dominance of all crypto currencies in the market is almost 47 with Bitcoin, Ethereum has almost 18 and Cardano's is almost 2. And Ethereum has the largest number of developers and Ethereum has been around for 5 years. Ethereum has 4x as many developers as other cryptocurrencies. At Cardano there are 40 developers. So that you can visualize this, you can see the number of developers here depending on the project. This is Ethereum, this is Polkadot and here you see Cardano.
In order to better understand Ethereum and Cardano, let's take a look at smart contracts. Ethereum has been using smart contracts for years and Cardano will be introducing them soon too. From August 2021 this should then be generally available on the mainnet. Another big difference is the speed. Ethereum 1.0 can make about 15 transactions per second and from Ethereum 2.0 it should be about 100,000 transactions. According to Charles Hoskinson, Cardano should enable 100 transactions per second. But as soon as it comes to Ethereum 2.0, it will be a heavy blow for Cardano. some assume that Cardano can then execute 1 million transactions per second Ethereum can store transactions and create smart contracts. And the function of smart contracts enables various decentralized applications dApps as well as Defi decentralized finances. That includes staking, that you can buy NFTs, etc. And the smart contracts are also known as ERC-20 and it simply works like this, you put your Ethereum token into a machine, enter a combination of numbers and then receive something else.
Like a chewing gum machine where you put money in and then come different colored chewing gum. Same with Ethereum. after you have done that, you will receive something else and that could be a Binance token, for example. And Cardano wants to create a better marriage. And cryptocurrencies based on Ethereum are based on ERC-20, that is Tether, Chainlink, BNB, Dai etc.
Problems Ethereum has are high fees and long waiting times. Of course, this also shows you how high the demand for this network is. Another thing to consider is the difference between Proof of Work and Proof of Stake. Proof of Work is used with Bitcoin, for example. These are the miners and that is guaranteed by the computing power and Proof of Stake is that the person who has the most shares has a greater advantage. That is, the person with more shares receives more profits than someone who has fewer shares. And that could change with Ethereum. In addition, Ethereum could introduce EIP 1559, which is the Ethereum Improvement Protocol. The Ethereum Enhancement Protocol. Which would ultimately represent Ethereum 2.0. And they hope that it will happen in the London upgrade in July 2021 and many assume that after this upgrade Ethereum could become more valuable than Bitcoin. Not only would the protocol reduce fees, but Ethereum would also move from an inflationary cryptocurrency to a deflationary one. What problems does Cardano have? First of all, Ethereum has over 5 years more experience with smart contracts than Cardano.
In addition, Ethereum has the largest ecosystem, it has trust and a lot of partners who use the Ethereum network and therefore also the greatest network effect. That is, the larger the network, the greater the power of the network. The Métalfian law. In addition, Ethereum was the first to be there compared to Cardano and was thus able to secure a large market share, as you could also see with the dominance. Perhaps Cardano's technology is better, but at the same time you still have many hurdles to overcome in order to reach Ethereum. Another point is that the digital central bank currencies need a scalable blockchain and both Cardano and Ethereum are ideal for this. Cardano also has a plan to ensure 100% decentralization. In addition, with the Cardano DNATags, Cardano can now convert Ethereum-based smart contracts to Cardano Goguen. And if that works, Cardano could gain market share from Ethereum. And thanks to the hard forks from March and April, Cardano have managed to become more decentralized and safer. And the introduction has had a big impact on the price of Cardano too.
Another reason why Cardano is so strong compared to other cryptocurrencies is because almost 72% of all Cardano are staked. In addition, Cardano as a crypto currency and the course is very robust. As you can see here, Cardano's price has been hovering around its all-time high for a while. Especially if you then compare it to other cryptocurrencies. Even if you look at the development, the winner here is Ethereum, but Cardano has made a very steep development and it only really started at the beginning of 2021.
And if you also look at the offerings of Ethereum and Bitcoin, you will see that Ethereum has a significantly lower offer than Cardano. The price of Cardano has been under a dollar for most of the time since it was launched and has still seen this huge increase. The increase from the all-time low for Cardano was 7435.24% and for Ethereum the increase from the all-time low was 804.654.33%. The question is: How will the price of Cardano and Ethereum develop in the near future and also in the next few years? And for this we orientate ourselves on the market capitalization and how it could develop in the next 10 years.
I know it's a very simple representation, but it gives us a forecast for Bitcoin, Ethereum and Cardano for the future. Many assume that in the next 10 years, for example, bitcoin will reach the market capitalization of gold, perhaps even earlier. That means we can assume a market capitalization of 10 trillion here. That means the price per Bitcoin will be around 500,000. That means we're going to see about a tenfold increase in price today. For Ethereum, we could assume Bitcoin's market capitalization today is 1 trillion. So the Ethereum will increase from today's market capitalization to today's Bitcoin. That means the price of Ethereum will probably be around 9k or 10k. And if Cardano delivers what they promise, then we could see Cardano spike and the value of Cardano could go up to $ 500 billion, which is fifteen times what it is today. That means we would have a tenfold increase for Bitcoin, a triple or quadruple increase for Ethereum and a fifteenfold increase for Cardano.
Assuming Bitcoin, Ethereum and Cardano continue to develop like this. But you also have to remember that Ethereum has many advantages over Cardano and Cardano first has to overcome the hurdles that Ethereum has already overcome. In summary, we can still say that Cardano is trying to present an alternative to Ethereum and is also working intensively on it. But we also know that Ethereum has had a functioning product for a long time and that there are more developers at Ethereum than at Cardano. The big question is whether the two can coexist. Personally, I believe that they can coexist, both of which are an asset to the crypto world. Nevertheless, I believe that Bitcoin is still the better alternative to Ethereum and Cardano. We don't know how Ethereum and Cardano will develop or whether another cryptocurrency will replace them.
But if Cardano should develop a better Ethereum, then we can see a huge increase in Cardano's market capitalization to 500 billion by 2030. Ethereum would see today's price triple or quadruple from today's price. So on the one hand we have Cardano with a greater potential but also a greater risk. But should Ethereum successfully introduce EIP 1599, that would definitely secure Ethereum's position. Ultimately, we don't know how the future will develop. It remains exciting. Thanks for watching the video up to here. You are great. What is your opinion on Ethereum and Cardano? Will Cardano overtake Ethereum or will Ethereum continue to grow? Do you see that Caradno Ethereum's market share is decreasing and so the competition between Cardano and Ethereum is increasing? Write me your opinion in the comments.
If you enjoyed the video, give it a thumbs up, share the video, and watch the next video now. See you. See you soon..