Future of Cardano, Ethereum, and Dagcoin - 2019 Comparison

By CIOReview Team

Future of Cardano, Ethereum, and Dagcoin – 2019 Comparison

Introduction

Cryptocurrency is the current craze of the world. You can find many sensational stories of companies and individuals going from rags to riches thanks to cryptocurrency. In the crypto world, one wrong move could make or break everything. So, investors and miners alike need to know as much as possible about the cryptocurrency before they invest or mine it. With hundreds of cryptocurrencies to choose from, many may feel overwhelmed. Not to worry. Here, we will take a look at Cardano, Ethereum, and Dagcoin specifically in how they fare, and how they will fare in the future. That way, you have all the information you need to make the right decision.

Cardano Price Forecast and Prediction

As of now, Cardano proves to be a stable cryptocurrency compared to many other cryptocurrencies. Cardano coin price prediction is expected to be at $0.40 by the end of 2019. While we do not know how much can Cardano go, we can say the future of Cardano is looking good. If you ask yourself “Should I buy Cardano?” you probably should. Though it has a humble beginning, Cardano future price might spike one day. But what is Cardano?

What is Cardano and How Does It Work?

Cardano is a decentralized blockchain-based system which is powered by the ADA coin. Developed by a co-founder of Ethereum and launched in 2015, Cardano aims to be both a blockchain based financial system and blockchain based Smart Contract system. Basically, Cardano is being developed in two layers. The first layer is the balance ledger that uses the proof-of-stake consensus algorithm to create new blocks and confirm transactions. The second layer is the Cardano Computation Layer, which contains the information on why transaction occurs. Smart contracts run inside this layer. These two layers work in unison to make the platform more flexible and customizable for companies.

Cardano Road Map

Cardano, or ADA, is the third generation open-source blockchain project with the goal to solve problems prevalent of its predecessors. Cardano aims to perform what its predecessors can and achieve better results by following the constantly changing roadmap which consists of five stages. The first stages involve the development of the main net and complementary functionality. Then, there will be a network decentralization before the creation of a virtual machine and a universal language framework. After that, the team will work to improve scalability, security, and performance before they implement the Treasury model, to provide a self-sustaining ecosystem for the network.

In Short…

Overall, you can say that Cardano is an ambitious project aimed to solve previous problems in the crypto industry. View this as a long-term project with a lot of potentials.

Ethereum Price Prediction – Will Ethereum Crash?

The big question is “Is Ethereum dead?” Being the second largest cryptocurrency, its price plummeted from $1,417 to a three-digit value. Looking at this alone, and the answer might be “Yes”. But the same answer applies to “Will Ethereum recover?” Analysts are divided about Ethereum price prediction 2020. Some argue that it will remain in its three-digit ditch whereas others believe Ethereum will make the jump again. While the Ethereum price projection remains uncertain, perhaps you should not ask yourself “Should I invest in Ethereum?”

History of Ethereum

Ethereum is a different story. Before we can comprehend what it is, we need to understand the internet as a whole first. Basically, companies like Amazon, Facebook, or Google has our personal data in clouds and servers. This is good because those companies take away the cost of hosting and protecting our data. However, hackers can also collect your personal data by attacking a third-party service. It is like putting your entire saving into a bank that is prone to robbery. As such, a decentralized design is needed. Blockchain and Ethereum are some of the latest technologies to decentralize the internet.

How Does It Work?

Using blockchain technology, Ethereum consists of secured, interconnected public records that are nigh impossible to change because any changes need to be approved by all users. Ethereum does not rely on a third-party recordkeeper, giving rise to the “trustless” transactions. The contract itself is self-fulfilling, meaning that the contract will execute when all conditions are met.

However, because Ethereum is broad in size and scope, it faces technical problems in speed and storage. While it can process a few transactions per seconds, other cryptocurrencies can process hundreds. This bottleneck caused users to complain, especially about the expense of using the platform. This brings us to Dagcoin.

What is Dagcoin and how is it different?

Just like Ethereum and Cardano, Dagcoin is a cryptocurrency. Developed in Estonia, Dagcoin has the capability to be used similarly to everyday currency. As such, it is the first to target developing markets. What makes Dagcoin promising is its developer. Dagcoin, DagWallet, Dagpay, Merchant Finder, and SwipeX are all developed by the same software company.

Dagcoin’s Features

Dagcoin introduces solutions to old and recurring problems that plague cryptocurrency while opening up new feature possibilities because it is a new form of cryptocurrency altogether. Basically, it leverages the Directed Acyclic Graph (DAG) organizational model for the structure of its decentralized ledger. Still, how exactly does it work?

Dagcoin uses the DAG system. Through the byteball network which Dagcoin was built upon, its data is stored in DAG instead of blockchain. DAG is just as secured as blockchain, but it does not have scalability limitations of blockchain.

The DAG system is similar to blockchain. However, blockchain is vast and requires more computing speed when more users utilize it. This results in slower speed and higher cost. DAG does the opposite, meaning that the more users utilize the system, the faster the transaction goes, which ultimately cuts cost tremendously.

This is possible because DAG uses a smaller scope of transaction validation, which supports quick transaction validation. Because DAG is blockless, the whole process is a lot faster compared to blockchains based on PoW and PoS. Moreover, the validation of transactions goes directly into the transactions, meaning instantaneous transactions, no miners, and only a small transaction fee.

Of course, you need a reliable infrastructure to support such a versatile cryptocurrency. DagWallet, SwipeX, Merchant Finder, and Dagpay make up the ecosystem around Dagcoin.

DagWallet serves as an online wallet. From this wallet, SwipeX can take Dagcoin to trade for other cryptocurrencies. Alternatively, Dagpay uses Dagcoin to provide payment services to companies on the Merchant Finder, which is a network of companies that accept Dagcoin payments.

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