MF: 2 Cryptos for the Long Haul - $ETH.X $ADA.X…

Ethereum is also working to improve its technical capabilities through an update called Ethereum 2.0, which is designed to make the blockchain more scalable and environmentally friendly. The changes will include switching from a proof-of-work (PoW) consensus mechanism (where miners use enormous computing power to solve puzzles and verify transactions) to a proof-of-stake system (PoS) where miners solve puzzles using existing coins. PoS is faster and doesn’t consume as much electricity.


Unlike Ethereum, Cardano already has a PoS validation system that can handle about 250 transactions per second. The platform’s developer, Input Output Hong Kong (IOHK), also plans to implement an update called Hydra which will increase Cardano’s scalability by adding another layer to its blockchain. IOHK hasn’t provided much information on when Hydra will go live or how much it will boost the platform’s speed. But Cardano is already attracting its fair share of dApp development.