Cardano And Ethereum Will Coexist, Weiss Ratings Said

It’s been revealed that the launch of Ethereum 2.0 has been postponed once again.

Vitalik Buterin said not too long ago that the phase 0 of Ethereum 2.0 should be released this year, but there’s still a question mark floating over the exact launch date.

The co-founder of Ethereum said that he does not believe that the rollout of Ethereum 2.0’s initial stage that’s called phase 0 should be delayed.

During a Reddit AMA session with the Ethereum 2.0 research team, Ethereum Foundation researcher Justin Drake said that the practical launch date of Ethereum 2.0’s initial phase may not go live until early next year, the Daily Hodl notes. However, Buterin believes that the launch should definitely take place this year.

Ethereum and Cardano will co-exist

Crypto News Flash online publication noted that last month, the start-up investor and consultant Qiao Wang said that Ethereum 2.0 should be launched as soon as possible.

He also said that otherwise, he sees the danger that another, highly scalable blockchain could take Ethereum’s position.

“I’ve changed my mind after using a dozen of Defi platforms. So long as ETH 2.0 is not fully rolled out, there’s an obvious opportunity for a highly scalable blockchain to dethrone Ethereum. Paying $10 transaction fee and waiting 15 seconds for settlement is just bad UX,” he said.

On the other hand, Weiss Crypto Ratings’ expert Juan M. Villaverde said that Cardano (ADA) could become Ethereum’s biggest challenger.

It’s also important to note that Villaverde also predicted that Cardano and Ethereum would coexist in the future.

He said that the two projects and here to stay and neither would disappear.

ADA in the crypto market

In other news, the online publication NewsBTC notes that although the price of ADA has stabilized the crypto above $0.12, it looks like ADA is forming a striking correlation to Bitcoin and the aggregated market.

At the moment of writing this article, ADA is trading in the red and it’s placed on the 7th spot on CMC.

People Mentioned

Vitalik Buterin
Vitalik Buterin

Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.

Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

Ethereum Foundation
Ethereum Foundation

Empowering developers to produce next generation decentralized applications in order to build a more free and trustworthy Internet.

Tron Foundation
Tron Foundation

Tron Foundation

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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