Cardano has been discussed as the 3rd generation blockchain. Now you have IOTA which seems to be attempting to solve the same issues but with a blockless approach.
Are IOTA and Cardano competing to solve the same issues?Are they making Ethereum obsolete?
Just trying to understand the current environment for blockchains.
There is a fairly good discussion that transpired here: https://www.reddit.com/r/cardano/comments/7hxkze/blockchain_vs_tangle/
Tangle is the technology behind IOTA. The summary is:
- IOTA has made some questionable technology choices - rolling its own crypto, ternary etc
- Tangles might or might not be able to run smart contracts
- Ordering on IOTA is going to be tricky
- IOTA currently relies a lot on the concept of the coordinator which gives it a centralized aspect to it
- 34% attacks might be easier to achieve on a tangle vs other networks
As for the question of whether they will make Ethereum obsolete, that is really another topic altogether. There are many things in this world that are objectively better than another version but both version still exists. I think given Ethereum’s fairly widespread adoption, we will see Ethereum around for quite some time to time. Not to mention, Cardano has interoperation with Ethereum on its roadmap.
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Thanks Jeremy. Very Helpful!
Hmm. How would such a thing work? If it means Cardano smart contracts can talk and transact with Ethereum smart contracts and addresses, and vice versa, that would be very interesting indeed. As I see the 2 of these to be the future of the distributed Internet, but trying to envision how the 2 will coexist.
Ethereum got mindshare and dApps running on it, while Cardano got many things right from the get go like PoS and scalability that Ethereum is working on now. If both get those done by end of 2018, I think Cardano might be ahead on governance with the treasury and on-chain update voting that prevents hard forks. Assuming they are on schedule of course.
Another angle of looking at the 2 is can dApps be easily ported (or even transpiled) from Ethereum/Solidity to Cardano/Plutus?