Cardano was founded by Ethereum co-founder Charles Hoskinson, who describes Cardano as a third-generation blockchain that massively improves upon first and second-generation blockchains such as Bitcoin and Ethereum. The platform hopes to become a highly scalable and energy-efficient smart contract platform. Cardano’s native cryptocurrency is called ADA and can be utilized to carry out transactions and send or receive funds. Cardano or ethereum On the other hand, Cardano is a relatively newer player in the blockchain space. Launched in 2017 by IOHK, it aims to provide a more secure and scalable infrastructure for decentralized applications. While Cardano may lack Ethereum‘s first-mover advantage, it compensates with its rigorous academic approach and commitment to scientific research.

Since Ethereum was the first chain with smart contracts, it dwarfs Cardano’s smart chain ecosystem. To put things into a perspective, Ethereum has more than 3000 dApps running on it, whereas Cardano has a little over 1,000. When looking at total value locked (TVL), Ethereum’s DeFi ecosystem outshines Cardano by a long shot. Subsequently, Cardano comprises only a tiny fraction of Ethereum based on TVL being less than $100 million. In a nutshell, Ethereum has clinched the winning trophy in this category. Top 5 Tokens To Be the Next Ethereum (ETH) Charles Hoskinson founded Input Output Hong Kong (IOHK) after leaving Ethereum. This company still leads the technical development of the Cardano project. The other two key entities in the Cardano ecosystem are Cardano Foundation and Emurgo. The Cardano blockchain was launched in September 2017. Cardano raised funds for development through an ICO, which concluded in December 2016.