There is a new battle in the crypto space. Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.
The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.
Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.
The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.
Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.
With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.
However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.
ADA: 8 (top 10 is reserved for BTC)
Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure. You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.
DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space.
However, as we learned in basic math, sum total is always greater than an individual unit. This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.
Having Charles Hoskinson helps ADAs impression.
There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.
While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.
On a mission
Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.
Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.
While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.
Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.
Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.
DOT has an inflationary supply model while ADAs supply is capped.
Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.
DOTs technology is operational and is onboarding projects already. ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.
Conclusion: Total score
If you are a DOT fan you might think this score is skewed. If you are an ADA fan you might think it should score perfect points in all fronts.
In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project.
Thank you for reading and sharing this article. We appreciate you.
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