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- Cardano has announced that it will enter Africa in a full-fledged manner. Meanwhile, Electroneum had already created a strong base in the region
- ADA and ETN both have seen a significant gain, but the gain in the price of ETN has surpassed ADA by 400% this year
Cardano was founded back in 2017 along with the Electronum. The founder of Cardano was Charles Hoskinson, one of Ethereum Network’s cofounder. Meanwhile, the brain behind the Electroneum is Richard Ellis, one of the best marketer and a coder currently present in the market.
Electroneum had a slow-paced start while increasing its customer base and making its wallet more feasible. In Contrast, Cardano started at a full pace with no real product to show in the market. Cardano is currently looking for a user base with a single product called Yoroi.
Electroneum and Cardano have a big market cap and a large trading volume . A small investment on Jan 1 2021, on both the coins,would have provided a return of 10X for Electroneum and 5X for Cardano.
The Battle Of Cardano In Africa
Africa has a very high potential with more than 1.2 billion population as it is a continent with a very vast geographical region with 54 countries. Investments in Africa can determine whose stake will be bigger in the world’s Crypto payment. Cardano and Electroneum are fighting to gain the majority in this continent.
Cardano founder Charles Hoskinson announced that they would be launching in Africa through the supply chain. The hidden message in that speech was “YOROI”, a fast lite crypto wallet. Cardano is trying to push this wallet in the African Market with Supply chain logistics. Cardano connects with local suppliers who can generate value to the supply chain and use the YOROI wallet for it. This is where ELECTRONEUM gives a tough fight to the ADA.
Electroneum wallet has more than 4.12 million users with 1760 app downloads per day, and 1200 new unique users are added daily. Yoroi is still looking to bifurcate its market and gain a user base. Meanwhile, ETN has spread its wings from the local shops in Ghana to very Big Transactions on a daily basis. Both of those wallets are heavily secured, but Cardano uses a trusted node called EMURGO. The trusted node of Cardano can create privacy concerns among users. Whereas these wallets can be set up easily and use very less space in the device. YOROI wallet is unable to support the multi-wallet facility with the browser extension. In contrast, Electroneum can fulfill the fundamental defict of YOROI wallet with an additional feature for the lowest transaction fees of $0.003.
Is Electroneum The Zeus Of Micropayment In Africa?
The answer to that question is “Yes”. Electronum has proven its worth with low transaction fees and less complicated features. While the other wallets and coins are fighting for a stake in Kingdom of Africa, but only one can emerge as a king, which can be ETN. Cardano is also proving its mettle, but it has still a long way to go.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
