what's up guys it's chris here and today we're 
going to be talking about cardano versus ethereum   and they have a lot in common they're both 
digital currencies that also function as a   programmable ecosystem this means that other 
applications can be built on their network so   in this video we're going to be talking about 
what is cardano and if it can actually hit 50   if you're interested make sure to stay tuned and 
watch until the end now the big news about cardano   is that for a brief moment it was the world's 
third largest cryptocurrency and the reason it's   grown so much is because it recently announced 
that it's gaining smart contract capabilities   just like ethereum the date is september 12th and 
that's when the alonzo hard fork takes place and   once that happens cardano gets taken to the next 
level now you can think of cardano and ethereum   like two different airlines they're both going to 
the same destination they both have the same goals   in mind but they're taking different approaches 
and everything that people like that's going on   in the ethereum ecosystem cardano will soon become 
a direct competitor okay so we've talked about all   the hype around cardano but what actually is it 
and why is it growing so fast i quickly want to   say that this video is not financial advice and 
you always have to do your own research before   making any investment decisions here's just a 
quick example of how cardano is building the   future singularitynet which is a decentralized 
ai is teaming up with cardano to build robots in   hospitals and this is next level here's a clip of 
one of the robots they created her name is grace   the robot healthcare assistant you are 36.6 
degrees celsius by the way no risk of covet   you may have heard about my famous older sister 
sophia i've learned a lot from her the main reason   why cardano is such a big deal is because it's 
the third generation of cryptocurrencies let's run   through the generations real quick generation one 
is bitcoin and it's like digital gold a store of   value but it can only record transactions gen 2 is 
where smart contracts come in as well as ethereum   but the problem is the first two generations were 
quite inefficient there were scale problems speed   problems and too much energy usage but cardano 
aims to fix that cardano is a cryptocurrency   created by charles hoskinson he was an original 
co-founder of ethereum but he left the project   back in 2014 and after he left aetherium that's 
when he went to start working on cardano and his   goal was to improve upon everything that 
ethereum has already done and some of the   main differentiating factors between cardano and 
ethereum are that cardano uses the proof-of-stake   model which is significantly more energy efficient 
proof-of-stake just means that a person can mine   or validate block transactions based on how many 
coins they have cardano is also more efficient   when it comes to fees as well as transaction times 
just to help you visualize transaction times the   website tx street shows how bitcoin and ethereum 
transactions are being added to the blockchain now   if you look at this line of people each person 
represents one transaction waiting to be added   to the block and then the block moves that's 
when these fees are paid and the transaction   is verified now as you can see bitcoin moves 
way slower than ethereum but ethereum is pretty   slow too there's also a fee with both bitcoin 
and ethereum but ethereum's gas fees are very   expensive and a major problem for the network now 
if you compare that with cardano transaction costs   are less than 25 cents in fees and cardano has way 
faster transaction speeds than other networks now   when it comes to the speed of transactions bitcoin 
can usually handle about 4 to 4.6 transactions per   second ethereum can handle 20 transactions per 
second but cardano on the other hand is supposed   to be capable of a million transactions per second 
but don't get too excited because that scale   hasn't been reached yet right now cardano 
operates at about seven transactions per   second but that's only because there's a network 
setting that's turned on right now that limits   the transactions per second to how much demand 
there is but apparently that's really easy to   change now i want to make a quick distinction that 
cardano is actually the blockchain and ada is the   cryptocurrency that fuels the blockchain very 
similar to ether and ethereum on the ethereum   network something else that's unique about cardano 
is that there's a limited supply to how many coins   can be created with only 45 billion to ever be in 
circulation and this is a lot like bitcoin which   is a deflationary asset and completely different 
than ethereum which has an unlimited supply though   that may be fixed with the ethereum 2.0 upgrade 
and the last really unique thing about cardano is   that it wants to be the internet of blockchain 
connecting all cryptocurrencies together so   you can seamlessly transfer your assets from one 
crypto to another okay so now that you know what   cardano is let's talk about ethereum verse cardano 
and which one is going to win both of these   blockchains have smart contract capabilities and 
that's huge and a smart contract is a piece of   self-executing code that lives on the blockchain 
without smart contracts blockchains can only   record transactions but with them blockchains 
can execute deals for example you can get a smart   contract insurance policy that automatically pays 
out when certain criteria are met smart contracts   are going to enable cardano to add decentralized 
applications also known as dapps and decentralized   finance capabilities this is going to allow 
cardano to compete in the d5 space alongside   ethereum polka dot binance and solana smart 
contracts also open the door to the nft world   which until now have been dominated by ethereum's 
erc20 token and this is a good subject to talk   about really quick because minting new nfts 
on ethereum can cost anywhere from 100 to 600.   but on the other hand cardano costs mere pennies 
to transact with this makes ada cardano one of   the few viable candidates to take on ethereum's 
domination of the nft world but ethereum has a   major first mover advantage not only have they 
had smart contracts enabled for quite a long time   now but there's already over 2 800 decentralized 
applications running on the ethereum network in   contrast cardano is only now testing their smart 
contract capabilities with plans to fully launch   in september of 2021.

Now even though cardano 
does have the potential to take over ethereum i   don't think it's an either-or scenario there's no 
reason why cardano and ethereum couldn't co-exist   and possibly even work together cardano is focused 
on ways that blockchain can solve real problems in   developing countries and it recently announced 
a big partnership with the ethiopian ministry of   education on the other hand ethereum has its eyes 
on economic applications for example visa is using   the ethereum network to settle crypto transactions 
with such different visions there's a chance that   they'll both become successful blockchain 
ecosystems and if the market for blockchain   solutions continues to grow there'll be plenty of 
room for both of them so with all this momentum   about cardano is it true that it might one day 
hit 50 in early 2021 cardano's price was about   18 cents and as of now q3 of 2021 cardano's 
price is around two dollars that's over a 1 000   return just this year alone now it's important to 
keep in mind that crypto currencies are volatile   it's hard to predict what a coin is going to 
do within a few hours let alone years we've   also been on a crypto bull run for a while now and 
there's a lot of euphoria in the market okay back   to cardano hitting 50 here's some math behind that 
happening the total market cap for cryptocurrency   at the time making this video is around 2 trillion 
dollars ethereum's market cap right now is around   300 to 400 billion and the global market cap for 
gold is at around 11 trillion before we talk about   cardano hitting 50 let's talk about cardano 
hitting 15.

And in order for it to do that   it needs to grow to about half a trillion dollar 
market cap which would give us about a 15 and 50   cents ada price and to get to a 50 ada the market 
cap would be at about 1.6 trillion and just to put   that into perspective that's double bitcoin's 
current market cap but in my opinion i don't   think cardano is going to hit 50 until the end 
of the 2020s maybe even in 2030 but here are some   short-term price targets and i want to say one 
more time that this video is not financial advice   if we see ethereum creep past the five thousand 
dollar mark and hit ten thousand dollars which   i think is very possible the price of 
ada could likely hit five to six dollars   i like to look at cardano like a hedge against 
ethereum because it is possible that one day   cardano could be the de facto smart contract 
network with that said you guys thank you   so much for watching if you enjoyed this video 
make sure to demolish the subscribe button smash   the like button and i'll catch y'all next time i 
wonder how much a cardano coin is i wonder if they   even sell them let me look it up real quick oh my 
gosh they exist oh this one looks super cool okay   wow i like this one a lot all right i'm adding it 
to my cart boom cardano the ethereum annihilator

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