Do MATIC and ADA Have Any Similarities?
Every day, developers come up with new decisions on how to improve the king of altcoins — Ethereum. MATIC and ADA are among those solutions.
The first thing to learn about these blockchains is that they have huge communities. These systems share a goal to become the #1 solution to various projects and resolve issues faced by the Ethereum ecosystem.
Want to know which project is more promising? Proceed to the ADA vs MATIC comparison!
Polygon Blockchain and Its MATIC Coin
Polygon is a Layer 2 (L2) solution. Its goal is to increase the scalability of the Ethereum blockchain and reduce transaction costs. This is not a separate blockchain, but rather an Ethereum add-on that allows you to solve the scalability problem and get access to ETH.
Ethereum remains a platform for building decentralized applications. Polygon is becoming an intermediate platform that greatly simplifies the work with Ethereum.
Using it, developers can quickly create a scalable custom blockchain compatible with the Ethereum Virtual Machine (EVM). Thanks to Plasma technology, Polygon allows us to combine speed and security without giving up decentralization.
Its main goals are:
- Creation of a full-fledged ecosystem for the development of decentralized applications in symbiosis with Ethereum. Integration of the ecosystem into other large-scale projects.
- Creation of an interconnected network of blockchains of the second level.
- An attempt to find the optimal solution to the “blockchain trilemma” — a simultaneous combination of scalability, decentralization, and security.
To date, more than 1.5 thousand applications like DAOs, games, NFT, tools, and B2B sectors have been developed on the basis of Polygon.
Cardano Blockchain and Its ADA Coin
Cardano is a platform for smart contracts whose goal is to outperform Ethereum. Cardano applied the PoS model, which was used to create their own Ouroboros algorithm. It provides reliable mathematically verifiable protection against attacks.
With the Ouroboros algorithm, the need for energy-intensive proofs can be avoided. The developers have fully proven the effective safety of the protocol, which does not require any additional measures or means. The security of the Ouroboros system can only be compared with the protection of Bitcoin, and no one has ever managed to hack it.
An exclusive feature of Cardano is the ability to interact with other blockchain projects. The platform is 100% compliant with the standards that should be present in next-generation technologies.
The Cardano system is multi-level. It is based on innovative developments and the best methods of general democratic governance. A huge plus is the flexible cryptography system. All this is a guarantee of attracting new investors, which gives a powerful impetus to lightning-fast development.
Comparative Analysis of ADA & MATIC
To find out the winner in this hot rivalry we have to compare them head to head. Let’s take the basic features.
|Problems to alleviate
|Relation to Ethereum
|A separate, more capable network. Cardano is the culmination of ETH efforts.
|34.24B ADA (76%)
|8.73B MATIC (87%)
Cardano and Polygon have good TPS and consume less energy and transaction fees compared to proof-of-work blockchains. Both technologies offer state-of-the-art architecture to address real scalability issues.
In terms of which of the two is better, there is no definitive answer as each network has its own benefits.
Both networks won the attention of big funds. Both of them are shaking the world of cryptocurrencies with new updates and all-time high records. More and more people every day are signing up on exchanges to invest in these tokens.
Despite their differences, both networks offer lower fees than Ethereum, which makes them a better opportunity for transactions. Therefore, the question of converting ADA or MATIC to ETH is senseless. Yet be sure to do your own research prior to investing in any of the aforementioned projects!