London, UK, 4 Sep 2021, ZEXPRWIRE – Bitcoin is synonymous with crypto and is undoubtedly the king of cryptocurrencies. FinancialCentre broker Michael Hirsch says that, although Bitcoin currently holds the largest market cap of any digital currency (beating number two Ethereum by over $20 billion at time of press), that dominance might not last for long.
-Cardano is a third-generation blockchain with many innovations which will make it the best crypto in 2021.
-Bitcoin and Ethereum are first and second, respectively, but they have flaws that will lead to their downfall in 2021 if not corrected by then.
-Ethereum’s smart contracts can be exploited for malicious purposes; this is because there are no restrictions on what types of data can be uploaded onto the blockchain when creating a contract, so hackers only need to upload some corrupted code before the contract executes it automatically without any user input or verification checks.
-With its more secure architecture, improved transaction handling, and ability to process microtransactions more quickly than Ethereum, Cardano could be the crypto that surpasses both those other coins by 2021.
The Three Generations Of Blockchain:
Bitcoin is a first-generation blockchain, while Ethereum is a second-generation blockchain. Third-generation blockchains are more secure and handle transactions better. They also support faster microtransactions and run decentralized applications (dApps) independent of a central party.
First-generation blockchains like Ethereum and Bitcoin have numerous issues that need to be addressed before 2021, primarily their lack of scalability and the high cost of using them. The high transaction fees on both networks make them unviable for microtransactions and smart contracts.
In fact, it was reported today that insiders are predicting a possible $500 price tag for Ethereum by the end of 2021. While such a surge in value would represent more than 1000%, it might not hold much merit when considering crypto expert opinions (both bullish and bearish).
“I believe we will have a multitrillion-dollar market cap one day,” said McAfee on CNBC’s “Squawk Box”. “I could see us hitting that in a few years.”
Ethereum is the second most popular cryptocurrency in the world, just behind Bitcoin. Ethereum has been developed as a decentralized platform and enables smart contracts where people can trade without interference from a third party. Ethereum was also built to be able to code any blockchain solution for different applications too. It’s said that by the end of 2021, Ethereum could increase up to $4000 per ETH (Ether). This is not only according to John McAfee but also some other experts.
One of the problems with most cryptocurrencies is that they are not scalable. However, that might soon change. In fact, according to CryptoSlate, Cardano may solve this problem by using a proof-of-stake (PoS) algorithm to create a cryptocurrency that is more scalable than most cryptocurrencies.
Furthermore, the fact that the cryptocurrency has already partnered with Google, and hosts its own crypto academy (where people can learn about Cardano), bodes well for the future of this currency.
Cardano is a decentralized public blockchain and cryptocurrency project that is fully open source. Cardano was created to improve upon what’s currently available by providing increased security, sustainability, and scalability. The Cardano project takes a scientific approach in order to create a platform that offers these benefits as well as others including: – Interoperability for smart contract data and off-chain data access
– A layered architecture with its own EVM where ADA runs on
– Unlimited scalability
– Proofs of stake (PoS) algorithm
– Settlement layer using Ouroboros PoS consensus protocol
– Security with formal verification
Therefore, could Cardano be the next big thing? What about 2021 price predictions for other cryptocurrencies like Bitcoin and Ethereum? Although the latter certainly can see significant gains by 2021, many experts suggest that it might not necessarily exceed Bitcoin. Speaking to Coin Telegraph, Crypto Rand (a cryptocurrency expert) said:
“Bitcoin is still king in 2021 and will continue to be the standard for cryptocurrencies. Will it grow? Definitely, but its growth will be definitely smaller… I would say [that] Ethereum might exceed Bitcoin’s market cap in 2024 but probably won’t exceed bitcoin’s price. The same way as Ripple today is not even close to Ethereum in market cap. I think both Ethereum and IOTA are very promising, though, but their prices might grow more moderately.”
And what about 2021 price predictions for Cardano? According to Crypto Recorder, “The circulating supply of ADA is 25,927,070,538 ADA. The current price of each unit is USD 0.083396. The market cap is $2,270,474,110 USD. The forecast by the end of the year 2021 is around USD 3.22 (a rise of almost 3 times).”
Therefore, what do you think about cryptocurrency price predictions for 2021? Will Cardano be the next big thing and surpass both Bitcoin and Ethereum in 2021? Or, will it simply be another currency that soars before being left behind? Let us know what you think about the 2021 cryptocurrency market in the comment section below.
Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.