Despite Cardano’s weak price action over the past week, its new partnerships are garnering renewed interest. Recently, the network forayed its digital focus to Africa. After signing a deal with the Ethiopian government earlier this year, Cardano signed another Memorandum of Understanding (MoU) with the Burundi government.
This was while Ethiopia-based Atala Prism management solution by Cardano made it to the list of most influential projects for 2021.
Meanwhile, competitor Ethereum, recently executed its Altair upgrade. As the Beacon chains upgrade moved the network closer to ETH 2.0, Ethereum is also seeing a record high surge in its price. Having said that, ETH remained bullish on Friday, as it hovered over the $4,400 levels at press time.
Interestingly, both the smart chains are presenting a strong case in the dApps ecosystem. Cardano recently laid out new certification levels for the smart contract, along with other partnerships announced through its September Summit. Ethereum, on the other hand, is buckling up for “The Merge” while dominating close to 68% of the DeFi TVL.
Amid the rising interest, digital provider Solodev has also incorporated both the smart chains in its cloud offerings. In a recent release, Solodev stated that the two leading smart chains will enable developers and organizations to build applications that integrate with their cloud and digital marketing services.
Matt Garrepy, Chief Digital Officer at Solodev said,
“By offering Cardano and Ethereum, we’re giving our customers the tools to successfully build with blockchain, accept crypto payments at scale – and own the future.”
The aim is to essentially allow developers to launch DeFi, crypto, and NFT offerings on a cloud platform. Also, ADA and ETH will be available on Solodev’s marketplace storefront, to accept crypto payments for its e-commerce transactions around cloud applications.
In the context of utility, Solodev acknowledged that Cardano will allow “faster and cheaper” validation of transactions, while “Ethereum is the #2 blockchain behind Bitcoin.”
Just last week, Bitcoin also touched an ATH close to $67,000 on the back of increased adoption and launch of future-based ETF. While Bitcoin and Ethereum remain undisputed top two cryptos on the market cap chart, Cardano may have another edge over these blockchains.
In a recent tweet, Input Output Hong Kong (IOHK) stated that its network uses less energy than the “older generation blockchains.” It is yet to be seen if Ethereum can compete with that with its 2022 POS upgrade.
Did you know that older generation blockchain platforms like Bitcoin and Ethereum are currently using more energy combined than Argentina, yet blockchain is nowhere to be found on the #cop26 agenda? The following thread explains why @cop26 should be paying attention (1/11)
— Input Output Media (@IOHKMedia) October 27, 2021
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Shraddha is a full-time journalist at AMBCrypto. She has a keen interest in personal finance and wealth generation.
Her primary focus is on the cryptocurrency space’s applications for investment vehicles and portfolios