Cardano Shelley upgrade will spur competition, says Abra CEO

Saturday 6 July 2020, 6:28 PM AEST - 1 month ago

Cardano Shelley upgrade will spur competition, says Abra CEOCardano Shelley upgrade will spur competition, says Abra CEO 19

Chief executive officer of Abra, Bill Barhydt, says that Cardano Shelley upgrade is set to increase competition in the smart-contract blockchain realm. Ethereum is the king of smart contract blockchains, and Cardano occupies the number two-seat. However, the latest Cardano Shelley update is set to change this trend as Cardano gears up to take on the bigwigs.

As per CryptoSlate, the market capitalization of ETH is higher compared to its competitors. However, the gap widens as one considers other factors like transaction fees and active users. ETH emerges as the clear winner in the overall scheme of things.

Ethereum collects massive mining fees compared to its peers. Additionally, Ethereum is popular among large companies when it comes to blockchain adoption due to its reliable network. Tezos and Waves are nowhere close in comparison. But industry veterans believe that Cardano Shelley is set to change all this and increase competition in the industry.

Cardano Shelley upgrade is rolling out

After a long wait, Cardano Shelley is finally out in the real world. This next Cardano development phase is set to bring about significant changes in the network. Just like the upcoming Ethereum 2.0, it promised significant changes, and many are part of the actual upgrade. For example, the incentives program is set to increase community participation and stake pools.

As per the official description, Cardano Shelley is set to increase the decentralized credentials of Cardano by 50 to 100 times compared to its peers. Shelley code was released on 1 July at the Shelley Virtual Summit. All the features were discussed in detail, and the hard fork will go live by ...

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