Ethereum 2.0 Staking Upgrade Can Pose A Threat To Cardano

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • When we talk about constant development in the cryptocurrency ecosystem, Ethereum and Cardano are the two prominent currencies that have flagged their positions in the crypto industry.
  • However, in terms of protocol rollouts, Cardano has surpassed Ethereum.
  • Besides this, if the Ethereum welcomes its novel upgraded ETH 2.0 scheduled in 2020, the situation might become challenging for Cardano.

When we talk about constant development in the cryptocurrency ecosystem, Ethereum and Cardano are the two prominent currencies. They have flagged their positions in the crypto industry. However, in terms of protocol rollouts, Cardano has surpassed Ethereum. But, things might change after the Launch of Ethereum 2.0.

Cardano Framed as an Ethereum-Destroyer

With its exclusive Shelly rollout, Cardano has proved as one of the most efficient platforms in the crypto community.

The Co-founder and CEO of IOHK, Charles Hoskinson, recently opined in a podcast on how Cardano is different from other chains. Hoskinson stated that Cardano has gone through several rough periods while taking positive opinions from Bitcoin and working on how to operate it.

However, the effect of the Ethereum network is so vast that Cardano will not catch up with it soon. Hoskinson, still very optimistic said that one has to change the game to win the game.

Ethereum 2.0 launch will be challenging for Cardano

Besides this, if the Ethereum welcomes its novel upgraded ETH 2.0 scheduled in 2020, the situation might become challenging for Cardano. Ethereum will make a switch to PoS, and the features about privacy would also get enhanced with scalability issues.

But, if the ETH 2.0 launch delayed, then there are chances of Cardano to outshine the second-largest cryptocurrency. Cardano might take over Ethereum in terms of network effect in the coming times.

Furthermore, looking at past week performances, Cardano has flagged as the strongest large-cap altcoin. Also, it has uplifted 30% in recent days.

Moreover, much depends upon the Ethereum 2.0 launch. This will decide whether Cardano will outperform Ethereum or not. Or the upgraded ETH version 2.0 will give fierce competition to its opponents, including Cardano.

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