Mark Cuban, the American billionaire entrepreneur, tweeted on May 3, 2021, that Ethereum smart contracts are cheaper and faster at execution and functioning. While a lot of people have stood in favor of his claims, we have a different perspective that proves otherwise.
Today, we’ll see why Mark Cuban is wrong about smart contracts and how smart contracts will succeed. To be fair, there’s a lot of things that we actually completely agree with Mark Cuban on. In fact, I agree with him on most of the things about smart contracts. Now, let’s take a look at what Mark’s tweet:
I agree with him in the principle about smart contracts and I think overall, the smart contracts are here to stay. We’ve definitely seen the NFTs are here to stay. Love him or hate him, it sounds like we’re going all in, with Disney’s recent announcement that they’re moving into NFTs, as well as many other people getting on board with NFTs.
The other reason that I think smart contracts are really critical is for Decentralized Finance, also known as DeFi. These decentralized applications allow peer-to-peer applications. They don’t require a middleman or a centralized point to be in charge. And that’s the whole principle of DeFi in general.
I definitely agree with Mark Cuban on smart contracts and DeFi in general. However, Eth, or Ethereum, is in no way the cheapest or fastest as he mentioned in his tweet. Cardano, or Ada, is absolutely much cheaper and much faster. As this network continues to grow, we’re seeing smart contract more and more prevalent on Cardano. Here are 4 reasons why we believe Cardano Ada is better than Ethereum.
This ultimately means that we’re going to see a lot more adoption to all of these various use cases that Cardano continues to hold. Cardano is significantly cheaper than Ethereum to perform the smart contracts. As you do the smart contracts, Cardano performs and executes the entire operation in pennies, generally the cost standing at over 40 cents even during high network traffic times while Ethereum costs anywhere from $12 to $60 for its execution!
By today’s standards, we’re going to see Ethereum grow. As Ethereum’s gone on a run lately, the higher the price of Ethereum goes, the more will be its network congestion. This ultimately leads to higher costs and slowness. However, with Cardano, we’re going to see more more staking servers live, which potentially make it cheaper even as the network grows.
This is the reason why I ultimately think that Mark Cuban is slightly wrong. Although he is right about smart contracts in general, we can pretty much say that he’s betting in the right race but on the wrong horse here.
With the developments happening inside the Cardano realm, we strongly assume that Ada will surpass Ethereum in the coming future. Thank you for sticking with me to the very end. We hope this has been valuable information to your journey to skyrocketing with Cardano Ada. And as always, make sure to keep your kids protected with CleanRouter and CleanPhone so that you have the ultimate parental controls with how your kids use their phone 🙂
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Spencer Thomason is the CEO and Co-founder of CleanRouter, as well as many other products.
2021, SCEZ
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