With the planned Vasil hard fork, the Cardano Foundation has promised enhanced network bandwidth and reduced costs.
Crypto enthusiasts are preparing for a distinct landmark event on the Ethereum network while simultaneously keeping an eye on Cardano because of the promise.
The negative market seems to be a fantastic opportunity for two of the largest cryptocurrencies to undergo their most significant upgrades ever.
Both networks are receiving significant network enhancements within the span of a week, which bodes well for their future development.
As the improvements get closer, this is leading to a comparison of Cardano and Ethereum.
Cardano or Ethereum?
The question of which blockchain network is best positioned for rapid expansion if the bull market catches up naturally emerges in this setting.
The Vasil hard fork is different from The Ethereum Merge in that it does not aim to reduce energy costs or introduce a new consensus method.
After Ethereum completes the transition from proof of work to proof of stake, its energy usage is expected to drop by approximately 99.95 percent.
Cardano, on the other side, claims that the planned hard fork will improve its scaling capabilities while simultaneously reducing expenses.
Crypto Capital Venture’s Dan Gambardello thinks this is a safer option than Ethereum in the ongoing Cardano vs. Ethereum discussion.
In their opinion, it will be “months and years” before Ethereum’s developers devote serious resources to the issue of scalability.
Meanwhile, he said, Cardano is working to solve the scalability issue.
Cryptocurrency’s largest Proof of Stake mechanism
Gambardello also made note of Cardano’s (ADA) recent surge in market capitalization.
Therefore, the blockchain network is currently the largest proof of stake system.
Ethereum’s Merge to proof of stake on September 15 will undoubtedly cause some disruptions.
Cardano is now placed seventh in terms of market size, surpassing XRP thanks to its market cap of $17.03 billion.
According to data compiled by CoinMarketCap, the current price of ADA is $0.49, representing a growth of 1.61% in the previous 24 hours.
Ethereum Classic, an implementation of the proof-of-work consensus method, has also been gaining popularity at an unprecedented rate.
The price of Ethereum Classic (ETC) has increased by a whopping 24.13% in the last day. Price as of this writing: $40.32.
Because of Ethereum’s switch to a proof-of-stake consensus, many miners are expected to join the ETC community.
