Last Thursday (5), the long-awaited update of the Ethereum network, “London”, went live, which brings important changes to the system and which can make the cryptocurrency (ETH) jump to new expressive highs.
ADA is considered the cryptocurrency that has the potential to surpass ETH and the success of the Ethereum update made the 5th largest cryptocurrency in capitalization run against time.
Cardano promises to release the update Alonzo Purple, which is the third and final phase of the Alonzo update, and when completed, will be the first fully public Cardano test network to support smart contracts.
Smart contracts are expected to be fully supported on Cardano’s blockchain in late August or early September.
The goal of the update is to bring smart contracts to the ADA network, thus adding the ability to build decentralized applications (DApps).
Ethereum and Cardano are decentralized blockchain platforms that diverge significantly when you zoom in.
Cardano highlights its peer-review nature above and beyond all other facets. This is important to the Cardano team because it shows that safety is essential.
On the other hand, Ethereum is a less controlled environment, full of controversial upgrades (called hardforks). While the Ethereum blockchain itself has remained secure since the infamous DAO hack, many decentralized applications running on it have not.
While Ethereum can innovate relatively quickly using a production ethics test, Cardano is stuck formalizing minor updates.
Cardano outperforms Ethereum when it comes to greater energy efficiency, scalability and yield due to its double-layer design and Ouroboros consensus.