Mary (me) Update - Cardano was a big success!
Until the 1st of March it was not possible to deploy your own tokens on Cardano ( ADA ). This was a big disadvantage to other projects like Etherum and so on. But now with the so called MARY Update Cardano is now able to work with smart Contracts.
What does that mean
Well with SMART contracts you can program your money. Means that you or a team are able to deploy your own token on the Cardano chain. And when you compare Cardano with Ethereum you will see a big difference. Yes it Is true Ethereum is live and well known for years. And yes it is also true that CARDANO is still in development. Cardano has a clear roadmap and a few steps to go. On the other hand. Ethereum is dealing at the moment with extreeeeeeeeeeemly high GAS Fee prices. Everyone who has tried to exchange some tokens from A to be has seen such high fees. There are alternatives, like the BINANCE Chain but in this post I will focus on Cardano. But to make it clear we are not there at the moment.
What happened after the MARY Update
Well it is important to say, that soon after the MARY update was implemented around 270 new tokens have been created. You can also check that with the token explorer. It is a big step in the right direction and important for the upcoming release. This screenshot shows only an example.
Today there is an amount of about 1435 token. (03.03.2021) See more on https://tokentool.io/
“…………., the much-awaited update will introduce native tokens and multi-asset support. The development is expected to bring exciting new use cases to ADA and pave the way for a flourishing decentralized crypto economy.” ….. Mary opens a world of possibilities to developers looking to migrate to or build user-defined native tokens on Cardano completely. This feature will transform the decentralized blockchain into a multi-asset Blockchain The imminent update is set to take Cardano closer to realizing its full promise of delivering a wide range of use cases such as non-fungible tokens (NFT), stablecoins, Decentralized Finance (DeFi), and more.”
Let`S compare it with others:
Cardano (ADA)
- Circulating: 31,952,660,185
- Max supply: 45,000,000,000
- Transactions per sec: as announced 1000
ETHEREUM (ETH)
- Circulating: 114,894,581
- Max supply: ∞
- Transactions per sec: at the moment around 15
- Future: the are working to change POW to POS è which means better performance
BITCOIN (BTC)
- Circulating: 18,643,468
- Max supply: 21,000,000
My thoughts:
When you compare the numbers it is true that Bitcoins are well know as gold and Ethereum is the second largest coins with a sustainable technology.It is also true that ADA has a much higher supply than BITCOIN or Ethereum. But when you look at the price there is a huge difference. In relation to the percentage it is not such a huge difference… But to make it short. ADA has a huge portential and we will see where we are after the bullrun.
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