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By using Cryptologi.st you are agreeing to our terms and conditions. Cryptologi.st provides general data charts only and they are not investment advice.
Table of Contents
To conduct a fair comparison of Algorand vs Cardano, we first need to learn about both projects and their features, then start analysing them in parallel.
Aiming to provide high security, scalability, and interoperability for smart contracts and dApps, Cardano was developed as a decentralised blockchain platform with evolving features back in 2015 by Charles Hoskinson.
Using a Proof-of-Stake consensus mechanism, Cardano lets users earn rewards by staking (hodling) their ADA tokens, the native cryptocurrency of the Cardano network.
Also, Cardano relies on academic research and scientific philosophy to design and develop the platform and its features.
Thanks to its multi-layer structure, Cardano divides the network into the settlements layer and the computation layer, which handle transactions of ADA and execute smart contracts and dApps, respectively.
Let’s learn more about the features that differentiate Cardano from similar projects.
Here are the main distinctive features of Cardano.
These were the basics you needed to know about Cardano to get a general picture of it in mind. Now, let’s move on and get to know Algorand.
Security, scalability and decentralisation in creating dApps and digital assets are three pillars of developing the Algorand blockchain platform. Silvio Micali created Algorand in 2017 to provide an efficient infrastructure to build and run dApps and execute transactions in a fast and secure way.
Algorand uses a PPoS (Pure-Proof-of-Stake) consensus mechanism, letting the users stake ALGO, the native cryptocurrency of the network, to take part in the platform processes and validate transactions.
Algorand can scale without compromising security or decentralisation, i.e., it can process over 1,000 transactions per second (TPS), and its consensus mechanism confirms transactions in a few seconds.
Algorand also allows for the creation of different types of digital assets, including stablecoins, security tokens, and NFTs. These are only some of Alogrand’s features; let’s know more about them.
The following are among the main features of the Algorand platform.
Now that we know about both platforms let’s start comparing them and see how they’ve evolved in parallel.
The following table displays the key differences between Algorand and Cardano. Other essential factors we’ll compare in the following sections are
Learn more: Sushiswap vs Uniswap: An In-Depth Review
An important factor to consider when choosing a promising crypto project is its financial performance since its launch. Here, we’ll compare and contrast the price performance of Algorand vs Cardano.
The other financial factors we’re about to analyse in the following section include Algorand and Cardano’s Return on Investment (ROI), All-Time Low (ATL), and All-Time High (ATH).
Read More: Cardano Vs Ethereum: Which One Is A Better Long-Term Investment?
The tables below depict the ROI, ATL, and ATH of Alogrand vs Cardano. It’s no secret that Return on Investment (ROI) indicates a digital asset’s financial profitability in certain time frames.
Also, ATL and ATH show the lowest and highest price levels a cryptocurrency has recorded since its launch. These indices can help you see how high and low ALGO and ADA have gone, and by adding this to their ROI, you can set your expectations for their future growth.
As the table above shows, Cardano has been more profitable or less loss-making in various time frames. Let’s see how they differ in their current price, ATL, and ATH in the table below.
Algorand uses a PPoS consensus algorithm to achieve high scalability, security, and decentralisation. In PPoS, a small group of stakeholders (called a committee) validates each transaction block.
The committees are chosen randomly using the VRF (Verifiable Random Function) cryptographic technique so that PPoS can ensure the process is fair, secure, transparent and tamper-proof.
Cardano uses a version of the PoS consensus mechanism called Ouroboros, which validates transactions using a combination of stake-based selection, leader election, and block confirmation.
Ouroboros aims to increase the network’s security, scalability, and sustainability while decreasing energy consumption. Also, to be fair and random in choosing the block producers, the VSS (Verifiable Secret Sharing) cryptographic technique.
The following table summarises how Algorand vs Cardano differ in architecture and platform design.
Algorand and Cardano plan to develop their platforms by adding new features and use cases to satisfy existing users and attract new ones. Here's a summary of these two projects’ latest developments.
Read More: Cardano Vs Polygon (Matic): Which One Is A Better Investment?
Algorand
Cardano
The following table compares Algorand vs Cardano regarding transaction fees.
Algorand vs Cardano price prediction enables you to get a general picture of these two projects’ price performance in the coming years, from 2023 to 2030.
Remember that no price prediction is definite, and a volatile market like crypto is prone to many changes. Still, price predictions are based on the projects’ current performance and help us understand what crypto experts think about their future.
Congrats! Reading this means you’ve read through this article reviewing Algorand vs Cardano looking for an answer to the question, “Which one is better and faster”.
Well, Algorand can process the transactions faster, with a 1,000 TPS. However, choosing one of the two depends on many factors. Let’s review what we’ve learned so far.
Many features of these two platforms depend on your priorities and preferences, and the better one is determined by your needs. Cardano has been doing slightly better financially in the recent year, with a better ROI. Also, price predictions foresee a more profitable future for Cardano (ADA).
Regarding their price performance, Algorand and Cardano have had similar high and low levels.
Putting it all together, we can decide that these two projects have been evolving shoulder by shoulder but if you need faster transactions, choose ALGO. However, if you need a better long-term investment, choose ADA.
This article was a detailed review of Algorand vs Cardano, comparing and contrasting the two projects to let you know enough about them to make an informed investment decision.
It’s no secret that you need to do your own research before making investment decisions in the volatile market of cryptocurrencies. You need to monitor the projects, choose the best ones, analyse them and handpick the ones best suit your situation and preferences.
To this aim, Cryptologist supports you with a free crypto screening tool, detailed crypto coin top gainers, and cryptocurrency reviews and articles to enable you to make smart investment decisions.
You can find answers to the most frequently asked questions about Algorand vs Cardano to choose the one meeting your investment needs.
Historical volatility indicates that Algorand is about 1.5 times riskier than Cardano. But there are many factors to consider before saying which is better.
Algorand is unique for its multi-layered blockchain structure.
Yes, price predictions based on Algorand’s current performance indicate that it can surpass $5 in a few years.
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