Understanding the differences between Cardano (ADA) vs META 1 coin is an important step towards grasping the overall direction of the crypto market. Both of these projects improve upon first and second-generation blockchains by providing more programmability and responsiveness. Here’s what you need to know when discussing Cardano (ADA) vs META 1 Coin.
An Overview of the Projects
Cardano (ADA) entered the market in September 2017 as a third-generation public blockchain. Like Ethereum, Cardano was built to improve Dapp development capabilities. Notably, Cardano was the first blockchain to incorporate a peer-reviewed research strategy. The protocol utilizes evidence-based methods that leverage scientific philosophy and academic theory.
Today, Cardona is one of the top cryptocurrencies in the world. This success comes from a variety of factors including the fact that the project’s co-Founders, Jeremy Wood and Charles Hoskinson, worked on Ethereum for years. Interestingly, the two felt that Ethereum was restricting innovation due to its technical limitations.
As such, they sought out to create a more robust Dapp development platform. This desire led the team to create an entirely new programming language and more. Today, Cardona stands as a competitor to Ethereum in the smart contract programmable blockchain sector.
META 1 Coin
The META 1 Coin project is the brainchild of Robert P. Dunlap. Dunlap is a well-known freedom advocate. His project embodies a desire to provide a more transparent and fair experience to users. Also, the protocol provides a host of wealth generation strategies to improve ROIs. The team behind META 1 Coin seeks to empower users to stand up for financial freedom in new ways.
Cardano provides more scalability than Ethereum as it can handle around 10 transactions per second (tps). Recognizing that this TPS rate wasn’t enough to support large-scale adoption, the project’s cofounder, Hoskinson, released a paper recently explaining the Hydra scaling solution. This layer 2 scaling solution leverages state channels to process transactions off-chain. This approach drives the network’s theoretically tps-rate into the millions.
The META 1 Coin ecosystem was built with scalability as a primary concern. The developers needed to ensure that the DEX and other features of the all-inclusive network remained responsive. As such, the META blockchain provides lightning-fast transactions with scalability comparable to the NASDAQ exchange. Additionally, the unique consensus mechanism employed by the network provides near-instant settling of order.
Cardano and META 1 provide low-cost transactions to users. These networks offer Ethereum users an alternative to the record-high gas fees currently experienced. The low fee structure of the networks can be explained by the use of more advanced consensus mechanisms.
Recently, sustainability has become a major issue for blockchain developers. PoW networks like Ethereum are very energy-intensive. The computational power requirements to secure these networks can outweigh that of countries. Both Cardano and META 1 utilize staking mechanisms to reduce their carbon footprint.
The Cardano blockchain introduces a new form of PoS consensus called Ouroboros. This chain-based PoS protocol leverages randomly selected leaders to approve blocks. The system also breaks the blockchain into epochs.
Epochs are like snapshots of the valid blockchain. They improve network responsiveness because they eliminate the need for nodes to validate the entire blockchain from day one. At the start of each epoch period, the system selects leaders from the stakeholder pool.
The META blockchain utilizes an advanced Delegated Proof-of-Stake (DPoS) system to retain validity. This system integrates a community governance mechanism. This mechanism is how the community votes on what nodes will operate as Witnesses. Witnesses approve new transactions on the META blockchain. For their efforts, they receive a reward in the form of META 1 Coins.
Cardano is a very secure network. Its peer-reviewed and scientific approach to blockchain creation and management has helped it to earn a reputation as the “smart blockchain.” Like Bitcoin, a hacker would need to take over 51% of the network to alter the contents of the blockchain. In this way, Cardano is mathematically verifiable security against attackers.
The META blockchain features an open-source code and verifiable documentation for community review. The platform also introduces the META 1 Coin Trust as a way to improve its security. This feature provides a library of all source codes. Additionally, META has undergone a variety of third-party code edits with success.
The ADA token is a hugely popular project in terms of market capitalization. Notably, the token gets its name from the 19th-century mathematician, and the world’s first computer programmer, Ada Lovelace. ADA can be found on all major exchanges. Cardano intends to issue 45,000,000,000 ADA over its lifetime.
The META 1 Coin introduces a host of proprietary features to ensure it’s not subject to inflation, collapse, or manipulation. For one, the token is backed by gold, mining assets, and smart contracts. Specifically, the network’s smart contract 6 prevents holders from dumping their bags under asset value. This strategy provides more stability and makes META 1 the first self-appreciating stable coin in service. There are 1 billion META 1 Coins scheduled for release.
Cardano leverages the programming language Haskell for both off-chain and on-chain coding. Haskell is the world’s leading functional programming language. This strategy enabled developers to code directly in the Plutus Playground, a lightweight, web-based environment for exploratory Plutus development.
META1 Coin provides high programmability to developers. The network is open-source and is fully EVM-compatible. As such, developers can make a seamless switch to the META blockchain without the need to learn new languages.
Cardano (ADA) vs META 1 Coin
Cardano and META 1 share a lot of characteristics. However, it’s evident that advancements made since Cardano’s launch have improved the overall crypto experience for users. META 1 incorporates these latest upgrades and operates as a pioneer in the market due to its unique technical characteristics which give it an edge over Cardano in terms of functionality and scalability.