Michael Saylor, founder of MicroStrategy and a prominent Bitcoin advocate, posted a photo showing a climber delivering a Bitcoin flag to the summit of Mount Everest. This gesture was intended to highlight Bitcoin’s global reach and dominance.
However, a subsequent post revealed that Cardano had already achieved this milestone two years prior. Charles Hoskinson responded to the post, ironically highlighting the advantage of Cardano over Bitcoin, particularly in terms of settlement time.
Cardano’s blockchain architecture is designed to process transactions more quickly and at a lower cost compared to Bitcoin.
Bitcoin, despite its market dominance, often faces criticism for its slower transaction speeds and higher fees, which are attributed to its proof-of-work consensus mechanism. In contrast, Cardano uses a proof-of-stake mechanism. This approach not only reduces the time it takes to settle transactions but also minimizes energy consumption.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
