| | OCTOBER 20219use blockchain, but they are likely to consolidate into Ethereum, allowing this digital coin to survive and thrive. Ethereum has one of the most substantial de-veloper communities and Dapps are already live on it. Unfortunately, there are some scaling issues, but there is a significant advantage of being the first to a decentralized platform for smart contracts.A Way to Make a Coin that is Not MinedBlockchain 3.0 is gaining traction. The reason is that high electricity demand is generating the need for solutions. Cardano is one such 3.0 blockchain. Car-dano is another realistic competitor to Ethereum for developing smart contracts. Fortunately, Cardano, an alternative digital coin, promises to be scalable, gov-ernable, and interoperable. Another benefit of Cardo-na (ADA) is that it uses proof of stake (PoS) mining as opposed to proof of work.In the PoS system, the coin holder generates new blocks and verifies the payouts. The PoS system is considered beneficial because it eliminates forced and brute coin mining and ensures a much smoother and more stabilized blockchain development process.The Bottom LineThe upshot is that not all cryptocurrencies will sur-vive. Many of them will, and the niche they handle, will go a long way in determining if each will gener-ate liquidity. The first to the market concept is very helpful and will likely keep Bitcoin and Ethereum as the lead digital coins that will consolidate other dig-ital coins. The issue with both of these coins is their scalability and the cost to society. The proof of work concept that drives the blockchain of Bitcoin and Ethereum is very costly and uses a lot of electricity to mine and confirm a transaction. Coins such as Car-dano have found a way to confirm a trade that might gain traction and be able to compete with Ethere-um despite its dominance so far in the marketplace. While Bitcoin and Ethereum are the most liquid and first to market, other niche cryptocurrencies will sur-vive just like niche businesses flourish.
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