Will Cardano Overtake Ethereum in 2021?

everyone in the crypto world is having questions and expectations about ethereum's future as ethereum 2.0 release keeps getting closer will this upgrade be able to address the scalability and performance issues in a satisfactory way well the gas price model be changed will the change to proof of stake increase the throughput to the level required by the current decentralized finance boom well while i wonder about this in order to decide how to manage my eth portfolio crypto projects might have more at stake than i do and some of them are not waiting for ethereum's latest upgrade today i'm going to be updating you with the latest news on cardano as well as telling you why you should have ada in your portfolio is who knows it could overtake ethereum next year let's get it welcome to bitboy crypto my name is ben everyday i show you how to make money in crypto in today's video we're going to be looking at ethereum and how cardano could benefit from it if each 2.0 stalls but let's start by talking about how ethereum is hemorrhaging projects i've talked in the past about how the high fees have been affecting projects and investors alike forcing them to look for workarounds or alternative platforms now this is not only a matter of current gas prices but something we have seen in the past as well a new project comes along uses an erc20 token in the ethereum network just to create its own blockchain or move to another project's chain once it gains relevance the reasons are multiple scalability issues performance customization options wanting to decouple from east but whatever the reason projects like cryptokitties omisego and kik have been planning on leaving the network other projects like tron eos and wax have already left in the past last week we saw singularity net announcing that it would migrate a big part of its infrastructure built on the ethereum network smaller projects such as blockchain games have also been impacted with a decrease of 76 percent on the activity of games using the ethereum network according to the blockchain game alliances report for the first half of the year the situation is just unsustainable now going back to singularity net this is the company behind the famous ai robot by the name of sophia who wants to destroy us all do you want to destroy humans please say no okay i will destroy humans if the pandemic in politics failed to do so before this company is a big name in the ai industry which uses blockchain for a lot of its products its ceo dr ben gertzel explained that the prices and performance that ethereum is currently experiencing is the reason for the move if the move to cardano proves to be successful and easy to make other projects are sure to follow if you are in that position would you bet on an upcoming upgrade fixing the existing issues or go with an option that doesn't have those issues to begin with i think the answer is obvious cardano foundation ceo frederick regard recently said that he doesn't see other blockchain projects as a competition to be but giant tech companies like amazon google alibaba and tencent his reasoning behind such opinions is easy to understand cardano's rival is not other projects it's centralization while blockchain projects can fight each other for the top spot as the dominant blockchain network or cryptocurrency really what they want is to rule over 10 percent of the tech sector this is another point in favor of cardano his changes are aiming to go beyond being in the top five of coin gecko or coin market cap that's what we're so obsessed with but there's a bigger picture is a project built around scientific principles and ideals real science try it i know that i talk about how to make money on this channel and don't get me wrong i love money and i'm telling you all this so you can make it too but blockchain is far more than that as grigard said social media based big technology is no longer providing us with the tools to improve our life but using us as their products they manipulate human psychology for their own monetary goals blockchain is the opposite decentralization is empowering the individuals by letting them cooperate for a shared purpose frederick grugard believes that blockchain companies should be working together to fight for the ideals of decentralization not only by offering an easy way to make money but as a ways to recover control over our digital lives freedom [Applause] okay sorry about that i can be an idealist sometimes the reason for me mentioning gregar's comments is simple cardano is aiming for something bigger than most other blockchains are and it has been quite successful so far at doing so an example of this is the new financial operating system that charles hoskinson cardano's founder is working on its aim is to create a system that works as an end-to-end stack for economic identity providing economic inclusion around the globe the company behind cardano ioh k recently created a public fund of 250 thousand dollars aimed to incentivize a creation of dapps for cardano which is part of the plans for the voltaire phase this phase will introduce a treasury and voting system which according to charles will get the network a step closer to being a one-stop shop like he envisions and is also named after another dead guy in his words though it gives you identity an identity that a government can't take from you an identity that's not revocable an identity that you can't lose for this reason cardano is also looking at other applications like supply chain and credential management systems an attempt to determine their next moves think about it this is super ambitious we are not talking about creating a tool for developers to create dapps or cryptocurrencies we're talking about creating an ecosystem that could be used by entire countries especially those who do not have representation on organizations like the international monetary fund if cardano was to succeed with its plans the network is sure to become the leader of the blockchain industry and probably directly challenge centralized platforms like those mentioned by gregar another announcement along the same lines came on the weekend it seems that cardano might be a valid payment method for shopify users for those of you who don't know shopify is a platform that allows developers and businesses to open online stores and receive payments it is the biggest e-commerce platform with over 20 market share has more than one million merchants around the world and has seen more than 100 billion dollars in transactions since its creation users have been able to pay in the shopify store crypto by using third parties like bitbay but not in a direct manner now an australian developer is working on an ada wallet that would allow users to pay directly with the coin when using shopify the project is open source which means that other developers have jumped aboard to collaborate with this development as such a wallet would open a lot of doors crypto users and cardano the wallet will provide both users and businesses with benefits from the increasing popularity of cryptocurrencies around the world as well as providing access to the payment platform to users without the need for intermediaries that's exactly what we're looking for after all what good is decentralization if you have to select between five or six companies to process the payment for you what should you take away from all this if you're a cardano holder well the first thing is that cardano is not a project limiting itself to a single application or use case but aiming to build something bigger secondly this is not just an ideal without support quite the opposite cardano is shown that is able to attract big players and user support establishing itself is one of the top crypto projects out there number nine at the time of this recording in fact thirdly big things are coming for the project with the voltaire phase and more are being planned for future phases so you should be ready for what might be coming with cardano as its future is looking bright and bullish for now that's all i got be blessed bit boy out [Music] you

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