As Bitcoin and Ethereum are the first and second-generation blockchains respectively, Cardano is part of the third generation of blockchains whose aim is to significantly boost scalability of cryptos.
ADA is Cardano’s native token and has a market cap of around $30 billion. This places Cardano (ADA) amongst 15 of the biggest cryptocurrencies in the world.
With a limited supply of just 45 billion tokens, Cardano (ADA) is well protected from inflation.
The name ADA is derived from an ancient mathematician named Ada Lovelace, regarded as the very first programmer of computers in the world.
Cardano makes use of the Proof-of-stake mechanism that takes way less energy than its counterpart, Proof-of-work. POW has seen much criticism because of its heavy energy consumption.
Algorand (ALGO) is another Ethereum-based Layer-1 blockchain that entered the market in 2019.
Algorand’s (ALGO) major aim is to offer improvement to blockchain scalability by developing a super-fast network where users can carry out transactions swiftly and for very low prices.
Even though it wasn’t able to get the same spotlight as Solana (SOL) or Terra (LUNA), Algorand (ALGO) still remains a low-profile, highly promising project that has made many investors rich.
Algorand, similar to Cardano, makes use of a POS consensus, thus it’s relatively faster than major networks including Bitcoin and Ethereum, and is also more low-cost than both of them.
Major “Ethereum killers” including Solana (SOL), Terra (LUNA), and Avalanche (AVAX) are all in competition with Algorand (ALGO).
With the ability to carry out 1300 TPS, Algorand (ALGO) is indeed a serious contender to join the “Ethereum killers” community.
Quitriam Finance (QTM) is a new crypto that has just entered the market and is currently in its presale phase.
The project is aiming to develop cryptocurrency aggregators that centralise different crypto-related services including staking, swapping, and others.
Quitriam Finance (QTM) developers have the goal of becoming a multichain platform where swift and cheap transactions are carried out without any chain restrictions.
So many multichain projects that had promised to offer really fast transactions are now seeing success.
Some are looking to leverage the latest technology so they can provide their users with an intense transaction experience they’ve never seen before.
Some, like the Explora chain, aim to utilise the Avalanche (AVAX) and Binance Chain (BSC).