Cardano [ADA] and Google’s proximity threatens Ethereum’s position
Industry watchers have been expecting a partnership announcement between Cardano [ADA] and Google ever since IOHK’s Charles Hoskinson and Duncan Coutts visited the tech giant’s London headquarters. Hoskinson is the founder of IOHK, which is responsible for introducing Cardano [ADA] digital token, while Coutts is the director of engineering in the company. If Google gets involved with IOHK, it won’t be long before Cardano topples Ethereum from its dominant position in the cryptocurrency world.
How Cardano [ADA] is planning to compete with Ethereum
During his Q/A session at Google in London, Hoskinson presented a basic introduction and functionality of Cardano, and explained Cardano’s algorithm known as Ouroboros. IOHK’s press release following the session did not mention any team-up, but it is evident from the transcript that Google is looking at Cardano to replace Ethereum as a smart contracts platform provider.
Emphasizing Cardano’s technological superiority to Ethereum, Hoskinson told Google executives, “So many Java, C++ or Go developers are writing codes on Ethereum? You can’t, Ethereum doesn’t support any of these languages. They can’t even run a single viral app on the platform. If you look at the top 10 languages, none of them works on the system, so, by definition, all those developers aren’t developing for the system, they have to go and learn new tools and new stuff. With Cardano, first off, we’re backed-compatible, 100%, we’re running an EVM.”
Cardano investors may be facing constant pressure to sell due to recent price swings, but experts believe it is a better long term buy considering its technical superiority.
Meanwhile, Ethereum has been exhibiting a slump in prices since yesterday. ETH price was struggling to reach the $500 resistance level for the past two weeks. The highest it has reached in three days is $476, which seems to be the current key resistance level.
Despite its fluctuating value, Ethereum has the early-movers advantage, and beating it won’t be a cakewalk for Cardano by any means. But Cardano has been making some positive headlines ever since it got listed on Thai exchange BitKub, Korean Bithumb and CoinRoom. These listings become even more significant considering Bitcoin’s recent price surge.
Image via Google
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