Cardano Network Could Overtake Ethereum as DeFi Surges

Recent data suggests that the Cardano network could grow quicker than Ethereum and soon shift the power balance in the crypto economy.

Despite being less public than its peers, the network’s innovative reputation has especially grown since its Hydra upgrade

Cardano is Gaining Momentum

Cardano’s struggles to carve a market niche are over. The network’s developer activity now ranks third, seven positions ahead of Ethereum.

The latter enjoyed higher developer activity during last year’s Merge event.

However, developer productivity will likely improve on Charles Hoskinson’s blockchain after the recent launch of smart contracts for Cardano.

The network is also well-positioned to attract new users, given Bitcoin’s congestion problem.

The total locked value of ADA coins on the network is increasing exponentially, fueling speculation it could soon experience a boom in popularity.

Hoskinson’s Blockchain Still Needs Work to Gain Mainstream Acceptance

However, despite the recent flurry of developer activity, the network is still one step behind Vitalik Buterin’s Ethereum.

Ethereum’s popularity is well-documented, and it has gained a reputation outside the crypto industry.

Recent statements by Roger Ver, alias Bitcoin Jesus, predict Ethereum could soon onboard enough new users to challenge Bitcoin’s dominance as a store of value.

Time will tell whether Cardano will leapfrog Ethereum by solving the Ethereum network’s congestion problem.

The moral of the story: success is a ladder that Cardano cannot climb with its hands behind its back.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.