Do you want a cryptocurrency investment that can stand the test of time? Look no further than Cardano (ADA 0.89%) and Solana (SOL 2.69%). These leading blockchains boast highly innovative designs and competitive developers working hard to keep them ahead of the pack.
With a market cap of $32 billion, Cardano is the ninth-largest cryptocurrency, and it isn't hard to see why. The platform is designed to host self-executing computer programs called decentralized applications (dApps). And its aggressive development roadmap will help ensure that it remains a long-term leader in this competitive field.
Cardano is one of several blockchain platforms known as "Ethereum killers" because of their advantages over the current market leader in scalability. With a transaction capacity of 250 per second, Cardano trounces Ethereum's speed of 15 per second. And its proof-of-stake (PoS) transaction validation system (where miners update the blockchain using coins they own) is more environmentally friendly than Ethereum's proof-of-work (PoW) system, where miners solve computational puzzles using enormous amounts of electricity and expensive hardware.
But Cardano's developers aren't satisfied with being a little bit better than Ethereum. The platform may be in the early stages of its aggressive development roadmap.
In June, Cardano expects to launch its Vasil upgrade. And according to its founder Charles Hoskinson, an Ethereum co-founder, this will be a massive performance improvement designed to optimize Cardano for increasingly complex dApps. Vasil will also introduce new features such as a dApp store and a new crypto wallet where users can store and trade digital assets.
While some assets rely on updates to achieve industry-leading scalability, Solana is already there, with a transaction capacity of 50,000 per second. But instead of resting on its laurels, Solana's developer, Solana Labs, is pivoting to the exciting opportunity in blockchain-based fintech.
In February the platform announced Solana Pay, a protocol designed to serve as a decentralized peer-to-peer payment method.
But more than just a way to pay with crypto (which is nothing new) Solana Pay aims to support real-world currencies like the U.S. dollar and incorporate non-fungible tokens (NFTs), which are digital proofs of ownership stored on the blockchain. Solana's highly scalable design will give Solana Pay a competitive advantage against potential rivals.
With a market cap of $35 billion, Solana is the seventh-largest cryptocurrency. And its lightning-fast speed and use cases in fintech could help ensure it stays near the top of the pack for decades to come.
Betting on lasting success
Since its inception with the launch of Bitcoin in 2009, cryptocurrency technology continues to improve rapidly. Platforms that stand the test of time have tended to upgrade themselves to meet the changing requirements of the industry. Cardano and Solana are already at the top of the pack in terms of popularity and technical prowess. And their robust development teams will help make sure they stay there.