{"id":2311,"date":"2021-12-20T11:21:24","date_gmt":"2021-12-20T11:21:24","guid":{"rendered":"http:\/\/egrowonline.com\/?p=2311"},"modified":"2021-12-20T11:21:24","modified_gmt":"2021-12-20T11:21:24","slug":"will-cardanos-smart-contracts-ever-become-as-popular-as-ethereum","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=2311","title":{"rendered":"Will Cardano’s smart contracts ever become as popular as Ethereum?"},"content":{"rendered":"


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Cardano has long been touted as an \u2018Ethereum<\/a> killer\u2019 blockchain<\/a>, thanks to the allure of higher scalability, lower transaction fees and a mathematical approach towards cryptocurrencies.<\/p>\n

This has since led to developers moving over to Cardano and building smart contracts on its \u2018Plutus\u2019 development platform, leaving many asking the question \u2013 can Cardano compete with Ethereum<\/a>?<\/p>\n

Coin Rivet looks into whether Cardano smart contracts<\/a> \u2013 which are still in their relative infancy \u2013 can ever compete with the established dominance of Ethereum<\/a>.<\/p>\n

Smart contract deployment<\/h2>\n

The first metric to consider is the number of smart contracts being deployed and built by development teams on each blockchain<\/a>.<\/p>\n

Development on the Cardano<\/a> network has seen significant growth since September and is showing signs that it is gaining in popularity amongst developers.<\/p>\n

As of December 19, there are currently 929 smart contracts live on Cardano<\/a>\u2018s mainnet, which are mainly focused on DeFi<\/a>, following September\u2019s Alonzo upgrade<\/a>.<\/p>\n

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Thanks to Alonzo<\/a>, developers can now create DeFi<\/a> protocols such as DEXes and lend\/borrow platforms on the Cardano blockchain<\/a>.<\/p>\n

However, despite increased development on Plutus and further interest in the Cardano<\/a> ecosystem, Ethereum<\/a> continues to reign supreme in smart contract<\/a> deployment.<\/p>\n

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Ethereum<\/a> has maintained incredible deployment metrics throughout the year thanks to its established infrastructure and market-leading appeal to developers.<\/p>\n

Having peaked at 2.5 million contracts deployed in June, Ethereum<\/a> has seen more than 900k contracts deployed from September, which is when Cardano smart contracts were first introduced.<\/p>\n

This equates to an almost 1,000 times increase in the number of smart contracts being deployed on Ethereum<\/a>.<\/p>\n

Total value locked<\/h2>\n

The second metric to consider is the total value locked (TVL) of both blockchains.<\/p>\n

TVL can be used as a measure of how much smart contracts are being used and how many assets are being locked into DeFi<\/a> platforms via a contract.<\/p>\n

As it stands, Cardano<\/a> smart contracts only have an estimated $25m in locked assets according to data from the Cardano foundation.<\/p>\n

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Data sourced from the Cardano Foundation<\/p>\n<\/div>\n

On the other hand, due to its longevity in the space and widely-utilised DeFi<\/a> and NFT<\/a> spaces, Ethereum<\/a> has more than $148bn locked in smart contracts across its ecosystem.<\/p>\n

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Data sourced from DeFiLlama<\/p>\n<\/div>\n

This again equates to an exorbitant difference between the two blockchains in value and reinforces Ethereum<\/a>\u2018s current dominance over Cardano.<\/p>\n

Conclusion<\/h2>\n

While Cardano remains a promising project, Ethereum<\/a>\u2019s long-established infrastructure and mainstream adoption in the form of NFTs and on-chain development continues to ensure it reigns supreme.<\/p>\n

Ethereum<\/a> also has further upcoming catalysts, including the increased development of Ethereum<\/a> layer-2 scaling solutions<\/a>, its transition to a proof-of-stake blockchain<\/a> and future adoption<\/a> within enterprise blockchain<\/a> projects.<\/p>\n

Cardano<\/a> does however hold plenty of promise, offering a highly-scalable blockchain<\/a> that already has existing partnerships<\/a> and a dedicated team<\/a> behind it working to bring blockchain<\/a> into the future.<\/p>\n

Cardano also has one of the strongest communities in the industry, with many believing that the blockchain<\/a> and enigmatic CEO Charles Hoskinson<\/a> \u2013 a co-founder of Ethereum<\/a> \u2013 will eventually overshadow its \u2018big brother\u2019.<\/p>\n

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.<\/strong><\/p>\n


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Cardano has long been touted as an \u2018Ethereum killer\u2019 blockchain, thanks to the allure of higher scalability, lower transaction fees and a mathematical approach towards cryptocurrencies. This has since led to developers moving over to Cardano and building smart contracts on its \u2018Plutus\u2019 development platform, leaving many asking the question \u2013 can Cardano compete with […]<\/p>\n","protected":false},"author":1,"featured_media":2312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[1264,2155,158,587,1242],"class_list":["post-2311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-cardanos","tag-contracts","tag-ethereum","tag-popular","tag-smart"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/12\/shutterstock_2065496045-1024x593.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2311"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2311\/revisions"}],"predecessor-version":[{"id":2313,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2311\/revisions\/2313"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/2312"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2311"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}