Cardano vs Hedera Hashgraph Comparison
While the crypto bear market is in full swing, investors are taking this opportunity to accumulate assets that possess long-term viability. If history serves us right, crypto markets work in cycles, and the market sentiment will eventually turn positive.
When prices start to rally, it’s of good measure to have accumulated a high-performance portfolio that might exponentially rise in value. To help you make an informed choice, we compare HBAR vs ADA, two gems from the previous cycle.
Both of these cryptocurrencies have performed quite well in bull markets and have a lot of potential for the next bullish cycle. This article will provide you with in-depth fundamentals of Cardano and Hedera. Moreover, we will analyze some price predictions that should provide a good idea of their future value.
What Is Cardano?
Cardano is an open-source blockchain that provides users with a scalable network for deploying smart contracts and decentralized applications. The platform has been years in the making, as it was initially launched in 2017, mainly during the bullish cycle of that period.
It was one of the first proof-of-stake platforms worthy of the name, providing users with a democratic mechanism to participate in the network. Over the years, Cardano has added multiple features to its network regarding security and usability. This alone has proven that the team is continuously working on the project and are constantly pushing to upgrade the existing infrastructure.
Moreover, the Cardano Foundation is heavily involved in the blockchain industry. This entity promotes the Cardano platform all over the globe and supports builders that deploy dApps on the network.
One interesting fact is that Cardano doesn’t have a whitepaper. Instead, it’s a peer-reviewed code that involves some of the most prominent names in the industry.
Cardano uses the ouroboros consensus mechanism, which provides high scalability for the users of the platform. This consensus divides blocks into epochs and then into slots. Then, the protocol selects slot leaders randomly from the validators on the network that will be able to create the next block.
The ADA cryptocurrency is used for staking and securing the network, as well as for the negligible gas fees when interacting with smart contracts.
What Is Hedera?
Hedera is a smart-contract capable platform that uses an alternative method for reaching consensus. Even though Hedera uses a cryptocurrency, it’s not a blockchain in the proper sense of the term. Instead of creating blocks and linking them through cryptography, Hedera uses the hashgraph consensus.
This model allows transactions to be securely linked with each other, which, in turn, allows for linear scalability. So, the more users join the network, the faster it becomes. Consequently, Hedera claims to have solved the scalability issue of blockchain technology by providing their patented hashgraph consensus.
HBAR crypto is used for paying transaction fees as well as conducting microtransactions. Due to the extremely low cost of gas, Hedera is quite suitable for mass adoption as a secure global payment system.
Hedera vs Cardano Price Predictions
At the moment of writing, ADA is trading at $0.33, whereas HBAR is trading at $0.05. Let’s have a look at some price predictions from reputable sources on the internet.
Priceprediction.net provides a bullish 2023 view for ADA, with a $0.55 target. For 2025, their prediction even reaches above the dollar mark, $1.19, to be more precise.
The same website is even more enthusiastic regarding HBAR. They give targets of $0.09 and $0.19 for 2023 and 2025, respectively.
Digitalcoinprice.com provides the following price predictions. For ADA, they expect it to reach $0.82 in 2023 and $1.44 in 2025. For HBAR, the targets are $0.13 and $0.23.
Best Investor Choice
Cardano has proven to be quite resilient over the years, with continuous upgrades and work from the team. Hedera, on the other hand, provides alternatives to existing technology and solves scalability issues.
In short, both cryptocurrencies have a lot of potential, if we are to believe expert opinions. They are quite profitable in terms of staking too — although here you can choose a range of options, from SOL to BNB. Their performance is also similar, which lets us think that having both of these in your portfolio might be the best choice in expectation for the next bull run.