Cardano (ADA) vs Dogecoin (DOGE): Which Is the Better Investment?

Cardano is the 10th largest cryptocurrency by market cap currently, and one of the top proof-of-stake (PoS) crypto networks.

Cardano is currently the 10th largest cryptocurrency by market cap, and it is also one of the top proof-of-stake (PoS) crypto networks.

On the other hand, Dogecoin is the biggest meme coin by market capitalization, and it is also the first of its kind. It is the 9th largest cryptocurrency by market cap, which puts it just one step ahead of Cardano. They are also very different in many ways.

If you’re reading this article, you may be wondering what the difference between the two is, and which one may be the preferred network for what you want to do. You may even be wondering which of the two may be the better investment.

We’ll answer these questions and more in this guide to help you make a decision, so let’s get into it right away.

What Is Cardano (ADA)?

Cardano is a science-focused crypto network that ranks among the top PoS networks. Nothing gets implemented on the network without thorough scientific research including a peer-review.

As a PoS network, Cardano is a platform that supports smart contracts, decentralized applications, and all things web3. It is also a highly scalable network, processing 250 transactions per second.

Because of its scalability, Cardano is also faster than many other networks and the transaction fees are quite negligible. Fees on the network are paid using ADA, the native token for the blockchain.

ADA is also used for staking to secure the Cardano network. Validators who help to validate transactions also stake their ADA to secure the network and are in return rewarded with more ADA to ensure the network is not compromised.

ADA is also the governance token for the network. This means that ADA holders have the right to vote on proposals for the development of the network. This gives them a stake in the governance of the network.

There are 35 billion ADA in circulation, with a total supply of 37 billion tokens, all pre-mined. This means the tokens don’t need to be mined, which removes the need for PoW consensus. ADA also has a maximum supply of up to 45 billion tokens.

Apart from being the native token for Cardano, ADA is also used as an investment asset. It is also used for payments for goods and services at different merchants worldwide.

What Is Dogecoin (DOGE)?

Dogecoin is the largest meme coin and the first one to be launched. The project first started just as a fun cryptocurrency with no serious use case or intention. It was inspired by the popular Shiba Inu dog breed, and has since grown in popularity.

The growth of the project was mostly influenced by Elon Musk, the billionaire CEO of Tesla electric car company. Because of his influence, DOGE grew in price massively in 2021, making many holders rich.

The team behind Dogecoin has also taken steps to keep the cryptocurrency relevant though. It is now used as a payment currency for different merchants including Tesla. This is one of the real world use cases of Dogecoin.

Dogecoin also currently supports non-fungible tokens (NFTs), although it has not yet been established as one of the platforms to use for NFTs.

The network was designed and built after Bitcoin, being a PoW network. Dogecoin is mined, and does not have a maximum supply, which makes it an inflationary asset. There are however 145 billion DOGE already in circulation currently.

Which Is Better?

Cardano and Dogecoin are two different cryptocurrencies in all aspects. Therefore the question of which one is better depends on what you intend to use it for. If it is for NFTs, smart contracts, decentralized apps, Cardano is fine.

However if you’re just looking for a fun cryptocurrency, Dogecoin is the coin. When it comes to investing, ADA may be the better option because it has a much smaller supply which means it will potentially be more valuable. It also has more use cases, so it holds more potential for the future.

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