Ripple (XRP), Tron (TRX) and Cardano (ADA) Cryptocurrency Comparison
XRP, TRON Or Cardano: Which Has The Chance To Become The Next Big Thing In The Crypto World?
Amongst the top altcoins, recently, XRP, Tron, and Cardano have been most dynamic, dominating news stories. Many experts are calling these cryptocurrencies the next biggest dominant player to shape the crypto ecosystem. Let us now see what each of these coins has to offer, and what is it that makes them a good investment.
XRP is a cryptocurrency that was developed by a San Francisco based company called Ripple Labs. Ever since its launch, XRP has been making headlines almost every day. Its goal was to enter partnerships with as many banks and financial institutions as possible, and it got to it very enthusiastically. These days, the number of banks and financial institutions that entered a partnership with this coin exceeds 70.
Notably, Ripple has been the favorite cryptocurrency for banks. This is due to the fact that it has some of the best products that allow faster and cheaper cross-border payments to date. Sending international payments has become one of the biggest necessities of the modern world, and the problem is that most banks are still using the technology that is deemed almost primitive by today’s standards.
Notably, XRP has also been one of the more stable coins in this year’s bear market. A lot of people speculated that the coin achieved this due to its centralized nature, since many claims that the company behind it is controlling it. In fact, Ripple has faced multiple lawsuits based on this belief. Still, the company continues to deny this, and they even made extra steps towards decentralization of Ripple quite recently.
The fact that it is wanted by all these banks and financial institutions definitely proves that XRP is bound to have a bright future.
Tron is one of the most popular cryptocurrencies which has made some major steps towards mass adoption and mainstream usage recently, led by its founder Justin Sun. It has definitely been one of the cryptos with the most positive developments over the course of this year. It managed to successfully launch a TestNet, followed by a launch of its MainNet. It went through a token migration, where its coins left Ethereum’s network and settled in on TRON’s own blockchain. It also launched Tron Virtual Machine and managed to acquire BitTorrent, which has since become an important aspect of its new Project Atlas. It also entered more partnerships than we can count, and some of them even resulted in TRX becoming an official payment on the partner’s websites.
Most recently TRON includes the coin being listed on LINE’s exchange, BITBOX, as well as on Bitcoin Superstore, which allowed its holders to purchase goods from over 200,000 online shops.
The company’s ultimate goal is to lead to the decentralization of the internet and to revolutionize the entertainment industry. After all that we have seen so far if anyone has a chance to achieve this, it is TRON.
Cardano is a relatively new coin that managed to make a lot of positive development over the course of this year. It was created by Charles Hoskinson, who is also a founder of IOHK. Hoskinson is also known to be one of the co-founders of Ethereum. Recently, in one of his interviews, he explained that he joined Ethereum Classic after a hard fork due to disagreement with the rest of Ethereum’s team. After a while, he decided to gather up all of his knowledge of cryptos, and launch the coin that would be better than ETH as well as ETC.
It was designed to tackle issues that older coins were struggling with, and so Cardano came to be. When it comes to Cardano, this is a coin where the team is one of its biggest and most important aspects. Hoskinson himself is a very experienced developer, and he made a team of others like him. Because of this, Cardano was created by professionals, who knew what they were doing, and who developed the coin with the best and most modern technologies.
Hoskinson’s work on Cardano has taken time, but only because he and his team did not want to rush things. Instead, they concentrated on its technology. As a result, Cardano is one of the most stable and trustworthy coins around. It is also decentralized, and the team is bringing new updates all the time. Hoskinson even stated recently that he hopes to turn Cardano into the first trillion dollar crypto.
He hopes for a global adoption of the coin, which is expected to follow after the launch of Cardano’s own MainNet. Additionally, ADA also has a very strong community that continues to grow on a daily basis.