Fantom vs Cardano: Similarities and Difference
Public ledgers that have low-cost cryptos as their native coins or tokens are often overlooked. At the same time, they offer a vast array of possibilities to developers, while their digital assets may serve business needs and trading purposes. Fantom and Cardano are examples of such blockchains that lose in the matter of popularity to more well-established competitors.
Let’s take a look at Fantom vs Cardano rivalry and find out which public ledger may be the perfect fit for your needs.
Fantom — Scalable Solution for Building dApps
Fantom is a full-fledged DeFi ecosystem with its native token FTM. It is a scalable, Ethereum Virtual Machine (EVM)-compatible, and secure public ledger. It features a multi-token environment with custom-built blockchains. This platform is asynchronous. It belongs to Layer 1 blockchains. Let’s discover some of its unique features.
Lachesis
Fantom Opera — mainnet deployment — is built on Lachesis, which is Fantom’s practical Byzantine fault tolerance (pBFT) protocol. It features a DAG-based, asynchronous consensus mechanism. Lachesis utilizes graph layering and root graph technologies, which make it a faster and more scalable option than classical consensus mechanisms.
The model supports the asynchronous confirmation of transactions. It means that transactions are confirmed as they enter the blockchain without delays. The potential throughput is up to 20,000 TPS.
EVM Compatibility
Fantom’s Opera Network supports interoperability with EVM. Smart contracts on the blockchain are written in Solidity or Vyper and deployed on Ethereum. Basically, the platform allows developers to get advantages of building Ethereum dApps on Fantom with little code modification needed. Combined with Fantom’s high throughput, the high performance of decentralized apps can be achieved.
Oracles Integration
Oracles are computerized systems enabling the connection of data off-chain (from the outside) with the on-chain (internal blockchain data). Most public ledgers have native cryptos used to transfer values and enable protocol execution. Chainlink is the official oracle solution that Fantom utilizes as of August 2022. The provider is open-source, high-performance, and reliable.
Extensive Usage of APIs
Fantom has extended support for Transaction Trace API for better interoperability with Ethereum, transaction filtering, and data isolation. Besides, Fantom features Smart Notification API, Wallet Balance API, Ankr endpoint-API, Global GraphQL API, Rich Blockchain Data API, API3 API, and others to improve the functionality of the platform in general.
Cardano — Changing the World for the Better
Cardano is a decentralized blockchain with the native coin ADA. The platform strives to be a perfect fit for dApps development. It is also positioned as the multi-asset platform for verifiable smart contracts. It features the Ouroboros consensus protocol. The mission of this public ledger is to provide baking services to those who don’t have access to them yet.
Ouroboros
Ouroboros is a secure proof-of-stake consensus mechanism. It’s environemntally verifiable and it comes with advanced security modifications. The protocol applied cryptography, combinatory, and mathematical theory to ensure the integrity and high performance of the network. Ouroboros is claimed to be the first protocol that can support permissionless networks with minimal energy consumption.
2-Layered Blockchain
Cardano network is currently stratified into two layers. The first — Cardano Settlement Layer (CSL) — is the ledger of account. It generates new blocks and confirms transactions. The second is Cardano Computation Layer (CCL). It contains the data for values, and it can create customized evaluation rules to evaluate transactions on the blockchain.
Cardano vs Fantom
Let’s review the technical characteristics of both blockchains to see which one is more advantageous for users and developers.
| Cardano | Fantom | |
| Consensul model | Ouroboros (Proof-of-Stake) | Lachesis |
| Block time | 20 seconds | 0.7 seconds |
| Gas fee | $0.08 | $0.02 |
| Use cases | Smart contracts, dApps, DeFi | Smart contracts, dApps, DeFi, music streaming, metaverse creation. |
| Throughput | 250 TPS | 20,000 TPS |
| Smart contracts | Supported | Supported |
| dApps | Supported | Supported |
| Public or private | Public | Public |
It appears that in the matter of block time, gas fee, use cases, and throughput, Fantom is superior to Cardano.
ConclusionIt’s hard to argue that Cardano and Fantom are both solid public ledgers that aim at becoming some of the best blockchains on the market. The technicalities of Fantom are slightly more impressive, so converting AVAX to FTM, ADA to FTM, or any other asset you have may be the right call. Still, Cardano also has unique features that other players on the market haven’t incorporated yet, so this platform is not to be taken off account.
Read more:-https://networkustad.com/2022/10/05/top-5-hardware-wallets-to-store-crypto-safely/
