What is the most technologically advanced cryptocurrency?
Google search produced this explanation:
Cardano is arguably the most secure blockchain technology. It is also the largest smart contract platform running on proof-of-stake technology. Jul 13, 2022
What is the most technologically advanced cryptocurrency?
Just don’t tell the VC investors wedded to the Ethereum ecosystem or they will call in favours to get the google version of reality changed.
I would name these guys.
1 - Ethereum, 2 - Cardano, 3 - Solana, 4 - Polkadot
I think the word “smart” disqualifies Ethereum and Solana.
I felt like I got tricked into untimely support of Solana (as an investment target, anticipating DEX support for robust inter-blockchain token exchanges) because of dcSpark’s original endorsement: including a Milkomeda Solana integration appearing prominently on its front page roadmap, next in line after implementation of their Cardano based EVM and other Ethereum compatibility.
Then Algorand appeared on that roadmap and Solana silently got demoted. Today I cannot find a roadmap at all. Soon after this time, dcSpark described publicly why they favoured Algorand:
… how Algorand is technologically superior to other blockchains.
Here we’ll touch on how the protocol has all the elements needed for building a rollup, as well as the technological superiorities that make Algorand stand out above other blockchains.
I know dcSpark execs are highly active & well read on Twitter, but if the announcement of dropping Solana took place there alone I would personally never have seen it. I did subscribe to the dcSpark Discord Solana ecosystem channel and inquired about the status of integration once. Nic responded to ask “What application do you plan to develop with it?” which at the time sounded like a rhetorical question. I see today that this Discord channel has been, again silently, dropped.
There was a Solana page on the old dcSpark gitbook /milkomeda which has currently been taken down in favour of the gitbook /milkomeda-documentation which does not mention Solana at all: only Cardano and Algorand.
I know dcSpark execs are highly active & well read on Twitter: someone might point me to a tweet or two if the reasons for Solana falling out of favour were mentioned there (I don’t read Twitter unless tagged there). In any case it would have been responsible to accompany Medium articles like “Here’s why we’re endorsing Algorand” with at least one article saying “Here’s why we’re dropping Solana” - especially because even to this day dcSpark still promises Solana integration on the Milkomeda home page (“Bridges: Connecting Algorand, Solana and Cardano”). No answer yet to this query on Medium why dropping Solana wasn’t included their recap of 2022.
I was impressed by Solana in its early support of financial markets like Mango and how quickly financially oriented projects were building on it. In my opinion the massive VC support of Solana should have been able to buy a professional and complete response to the catastrophic news of repeated downtime with an upgraded node and debugged consensus mechanism. I waited for this to happen while SOL dropped through the floor and their weekly Dev email only talked about the latest bit-twiddles that would only mean anything to a devout Solana programmer. Nothing, to this day, about an overhauled node or anything that caused the crashes.
I consider dcSpark to be top source on this, because if there is a future in Solana I feel it would be most recognisable by the Cardano community and its experts. And despite the disappointment I feel in dcSpark for never announcing its abandonment of Solana, I still feel they are credible enough to infer a hearty endorsement of Algorand to become everything that Solana should have been.
Sorry to hear about your Solana expectations. I was really only being a smart arse with my previous comment.
definitely no problem since it helped introduce a larger story of how important in cryptocurrency investment it is to look at the things that are not said: considering how strongly social messaging & perceptions factor into asset value.
It was also an opportunity to introduce Algorand for any list of premier Level 1 smart contract choices, whether Solana is included on that list or not… and I’d still like to see Solana shape up and get ready to tackle those financial markets again
Each are “advanced”, but Cardano’s unique features are secure (using haskell, formal methods, research) version of Bitcoin with smart contracts and PoS. That is, uses extended unspent transactions.
Just because I was curious, here’s ChatGPT’s response:
It’s difficult to determine which cryptocurrency is the most technologically advanced, as different cryptocurrencies use different technologies and have different features that make them unique. However, some cryptocurrencies that are often regarded as highly advanced in terms of their technology include:
- Ethereum (ETH): Ethereum is known for its smart contract functionality, which allows developers to build decentralized applications (dApps) on the blockchain. This functionality has led to the creation of a vast ecosystem of dApps and has helped Ethereum become one of the most widely used and valuable cryptocurrencies.
2. Cardano (ADA): Cardano is a cryptocurrency that is known for its highly secure and scalable blockchain technology. It uses a unique proof-of-stake consensus algorithm, called Ouroboros, which is designed to be more energy-efficient and secure than traditional proof-of-work algorithms.
- Solana (SOL): Solana is a cryptocurrency that uses a highly efficient blockchain technology, which is designed to be able to process thousands of transactions per second. This scalability has made Solana popular for decentralized finance (DeFi) applications.
- Polkadot (DOT): Polkadot is a cryptocurrency that uses a unique multi-chain architecture, which allows for interoperability between different blockchains. This interoperability has the potential to unlock new use cases for blockchain technology and has led to Polkadot being dubbed the “Internet of blockchains.”
Overall, the most technologically advanced cryptocurrency is subjective and depends on one’s definition of “advanced.” However, the above-mentioned cryptocurrencies are often regarded as highly advanced in terms of their technology and features.
I also asked: “would you include algorand in the above list?”
Yes, Algorand (ALGO) is another cryptocurrency that is often considered to be technologically advanced. Algorand uses a unique consensus algorithm called pure proof-of-stake, which is designed to provide high levels of security, scalability, and decentralization.
Algorand also supports smart contracts and atomic swaps, which allow for the exchange of different cryptocurrencies without the need for an intermediary. This makes Algorand a popular choice for developers building decentralized applications and for users who want to transact with different cryptocurrencies in a secure and decentralized way.
In summary, Algorand is a cryptocurrency that has several advanced features and is designed to provide a fast, secure, and scalable blockchain platform.