U.Today – Charles Hoskinson, the founding father of (ADA), just lately identified that Cardano was the primary cryptocurrency to make its mark on Mount Everest. This revelation got here in response to a put up claiming that ADA blockchain had reached the summit in 2022, following Michael Saylor’s latest photograph showcasing a flag at the highest of the world’s highest peak.
Michael Saylor, founding father of MicroStrategy and a outstanding Bitcoin advocate, posted a photograph exhibiting a climber delivering a Bitcoin flag to the summit of Mount Everest. This gesture was meant to spotlight Bitcoin’s international attain and dominance.
Nonetheless, a subsequent put up revealed that Cardano had already achieved this milestone two years prior. Charles Hoskinson responded to the put up, sarcastically highlighting the benefit of Cardano over Bitcoin, significantly by way of settlement time.
What is the catch?
Settlement time in blockchain refers to the period it takes for a transaction to be confirmed and completely recorded within the blockchain ledger. It is a important facet for customers and companies counting on cryptocurrencies for quick and environment friendly transactions.
Cardano’s blockchain structure is designed to course of transactions extra rapidly and at a decrease value in contrast to Bitcoin.
Bitcoin, regardless of its market dominance, typically faces criticism for its slower transaction speeds and better charges, that are attributed to its proof-of-work consensus mechanism. In distinction, Cardano makes use of a proof-of-stake mechanism. This method not solely reduces the time it takes to settle transactions but in addition minimizes power consumption.
