Comparing cryptocurrencies side by side is not an easy task given that most crypto coins come to the table with its own uniqueness. Here, we will be comparing Cardano (ADA) and the Stellar Lumen (XLM)
What Prospects does Cardano (ADA) Offer?
Cardano currently trading at $0.57 apiece is the world’s 5th largest cryptocurrency. Cardano was released in 2015 by a firm known as IOHK. The CEO Charles Hoskinson was also in the development team of Ethereum and was one of the Ethers Co-founder.
Cardano is an open source crypto coin that looks to solve scalability issues (number and size of transactions that can be effectively handled per second). Cardano lets users inter-operate with other cryptocurrencies, the development team of ADA is trying to make transactions between crypto coins possible without the need for an exchange.
Cardano (ADA) uses a Proof of stake algorithm called Ouroboros, which is less complex than Proof of Work. This allows miners to mine more coin with less mining power. IOHK earlier announced that it is working on launching a debit card in future; it will be a great milestone for the cryptocurrency.
How Has Cardano Been Performing?
Cardano may not be the biggest cryptocurrency, but it shows a good chart; one that is not often plagued by very quick and successive price fluctuations. Cardano’s all-time high in terms of trading value is $1.33 which it recorded on the fourth of January. ADA also boasts a large market cap of $14.8 billion.
What Prospects does the Stellar Lumen (XLM) Offer?
Stellar was founded in 2014 by Jed McCaleb Co-Founder of Ripple and creator of eDonkey. Stellar is an open source system for money exchange. Stellar operates on a global exchange network where all servers on the platform hold a record of all the accounts on the system.
Stellar makes use of the consensus method for confirming transactions; all the servers sync in agreement when a transaction is carried out. Stellar is built with a 1% yearly insurance rate. Stellar combines the non-profit nature of Ripple with the decentralized nature of Bitcoin, to produce an appealing crypto model.
How Has Stellar (XLM) Been Performing?
The charts of stellar shows very quick rise followed almost immediately by a decline, which is not good for investors and users of the coin. XLM is currently trading at $0.5 with a market cap of $8.9 billion. The all-time highest trading value recorded by the XLM is $0.95.
Cardano (ADA) and Stellar (XLM), Which is a Better Option.
Stellar on its own has proven to be a cryptocurrency worth watching, but when compared with Cardano, it is not that difficult to pick the ADA over XLM. Cardano offers inter-operability of crypto coins, shows a better growth chart than stellar and boasts a far larger market cap.