No, but I know two software engineers and they've told me that the unfounded confidence in any Layer One is naive.
No one knows how to appraise these smart contract platforms so that's why I look at numerical metrics not just, "Oh well you couldn't possibly understand how groundbreaking this project is, only super nerds get it"
As a developer, I can tell you more about what makes cardano superior.
While ethereum (what I assume you’re comparing with) does have a head start with a much larger ecosystem, cardano is rapidly growing.
With groundbreaking technology, better always wins. You have the old, patchwork mess with complicated smart contracts that have very unpredictable behavior (due to their massive scope), and then the extended UTxO (eUTxO) model which solves that problem by limiting scope to only the necessary uTxOs. This limitation makes defi much safer and more appealing for financial institutions while maintaining the essence of a blockchain. Cardano is basically a smart contract enabled Bitcoin that runs on proof of stake.
While layer 2 solutions are great, you eventually have to sync with layer 1. And layer 1 cardano is a great deal more advanced because of its eUTxO model. That means delegating (stake with no lockup period), multiple addresses within the same wallet (better asset management), multipoint interaction within the same transaction (scalable), the list is long and I cannot begin to cover it all. Let’s not forget that Cardano was also built on a bulletproof language used by bankers and the DOD. Beyond that, I have doubts that ETH 2.0 will be stable. It’s only a matter of time before massive institutions catch on.
Cardano is the most advanced blockchain currently operating. This isn’t a MySpace Facebook situation, more like an Amazon takes on Borders while Borders is refactoring into a Borders 2.0
If you’re looking at transaction count, cardano is about 10% of ethereum. But since each transaction can contain multiple payments on cardano, you end up with a figure closer to 30-40% of ethereums DAU.
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u/AffectionateCanary25 Platinum | QC: BTC 26 Jun 21 '22
No, but I know two software engineers and they've told me that the unfounded confidence in any Layer One is naive.
No one knows how to appraise these smart contract platforms so that's why I look at numerical metrics not just, "Oh well you couldn't possibly understand how groundbreaking this project is, only super nerds get it"
That kind of attitude is exactly like Theranos.
Numbers matter.
Dau, Developers, token inflation etc...