Cardano's native token VS Ethereum's ERC 20 token

By Crypto Blogger | latestnews | 29 Apr 2021


Token are the assets that is backed by particular blockchain. Native Token in cardano is backed by Cardano blockchain while ERC-20 token is being backed by Ethereum Blockchain. With the growth of blockchain technology, Cardano has emerged as competitor to Ethereum Blockchain. Many people believe Cardano will outperform the Ethereum Blockchain. Cardano is often called Ethereum killer in crypto spaces. Let's discuss the major difference ,pros, cons between Cardano's native token and Ethereum's ERC 20 token.

 

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Brief explanation of Cardano's native token and ERC 20 token are explained below:

1. ERC-20 token has particular standard for the code which can be edited while Cardano's native token have same functionality as of Cardano Blockchain.

2. Both blockchain's token have smart contract. But the major difference is that ERC 20 token's smart contracts can be created only by using solidity language while Cardano's native token's smart contracts can be created using solidity, Haskell, functional programming language , JavaScript. Ethereum's smart contract can be converted to Cardano's native token while vice versa is not possible.

3. The gas fee to transact in ERC 20 token is very high while in case of Cardano's native token it is very low.

4. In ERC 20 token, we must have Ethereum as fee in order to transact the tokens while in case of Cardano's native token, we can use same native token as fee for performing the transaction in native token.

In my personal opinion, Cardano's native token is far better as compared to ERC-20 token. However, The main issue with cardano is it is still in development phase. It has not been widely used as compared to ERC 20 token. 

Finally, My question to all the reader's is What do you choose ERC 20 token or Cardano's native token? Do comment down below in comment section.

 

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