Cardano fees is 586 times cheaper than Ethereum: Charles Hoskinson
Data are clearly showing that people are using the Ethereum network over other networks despite huge gas fees.
Ethereum is the first Smart contract blockchain network in this crypto industry and its native token ETH has its dominant in this crypto industry at second position after bitcoin. After Ethereum, there are several blockchain networks, which are doing their best to bring a big competition against the Ethereum blockchain networks.
A couple of days ago, Ethereum’s rival Cardano blockchain network’s native token ADA grabbed more than 30% pump over the last low price of $1.18 ( in the market crash). That sudden pump was taken because of SundaeSwap main net launch news and Cardano Bash phase entry.
A Twitter account @Cardano_daily posted data Blockchain transactions in Cardano vs Ethereum blockchain Network. Cardano founder Charles Hoskinson retweeted that data report and wrote that it is just getting started with Basho.
According to the posted data, Transactions volume in the Cardano Blockchain network surged by $0.7 billion, and also transactions fee recorded in Cardano Blockchain was 586 times, in terms of revenue generated by both blockchain networks.
And remember, we are just getting started with Basho…. https://t.co/nTgZsSZrUz
— Charles Hoskinson (@IOHK_Charles) January 20, 2022
However, few people criticized the Cardano founder for supporting biased data against Ethereum, in favour of the Cardano blockchain Network in ideal conditions of the recent pump.
Further another Twitter user compared Ethereum and Cardano blockchain Network under updated and less favoured Cardano network. That guy found that the Ethereum network is generating $39,240,000 while Cardano generated only $76,000 revenue in 24 hours. And this is showing that Cardano is making 586 times less revenue because of transactions, however, burning was not counted.
On the other hand, the same person noted that transaction fees in the Cardano network are 82 times cheaper than the Ethereum network.
No doubt current transaction fees in the Cardano Blockchain network are very low but in the future, if the price of ADA will surge then surely it will result in a high price. However, the Cardano developer team IOHK is working to bring high efficiency and high Scalability programs. Cardano developer team aimed to bring 1 million transactions per second, which will be the top and highest efficiency based transaction in this industry.
Read also: Turkey may follow El Salvador: Report