SingularityNet developers have announced that they will be moving from Ethereum blockchain to Cardano’s blockchain. They say that the current speed and cost issues with the Ethereum blockchain will bring more on board.
So, can Cardano replace Ethereum I wonder. So many projects and stable coins run on Ethereum. Companies that make millions would not care if the price is $10 or $5 if they still make money. What truly stands out from switching apart from the fees?
In our opinion, Cardano blockchain has a completely new approach in many ways. It has the advantage of learning from the “mistakes” with regards to the basic architecture of Bitcoin and Ethereum. Scalability. Bitcoin and Ethereum lack scalability.
Interoperability. Cardano wants to establish interoperability not only between block chains such as BTC, ETH and XRP, but also to legacy systems of the banking world (SWIFT etc.) With Atala Prism they want to deliver identity to many and bank the unbanked. Everything about Cardano truly stands out in our opinion.