In the rapidly evolving world of blockchain platforms, speed is everything. And by that metric, Cardano is falling way behind.
Just two weeks after its official launch, Ethereum layer 2 Base Chain has already surpassed Cardano in total value locked (TVL). This despite Cardano having a multi-year head start in development.
While Cardano’s founder Charles Hoskinson continues to make grand pronouncements, Base Chain is actually delivering real-world utility right now.
One Base Chain app, Friend.so, is averaging 40,000 daily users out of the gate. Compare that to Cardano’s entire ecosystem, where finding over 40,000 daily users is like searching for a needle in a haystack.
It’s not just TVL and daily users where Base Chain is smoking Cardano. Base Chain completed more transactions in its first week than Cardano does in a month.
So much for Cardano’s claim to be “the most decentralized blockchain.” Base Chain is making Cardano’s plodding pace and lack of adoption stick out like a sore thumb.
Cardano lovers will make excuses about its methodical approach focused on security and formal verification. But the market doesn’t care about Ph.D-level academics – it wants solutions that work today.
Now Base Chain is even gearing up to overtake Ethereum layer 2 leader Optimism in daily transactions. While Hoskinson waxing philosophical at conferences, Base Chain is executing and attracting real developers.
The layer 2 wars are heating up. Projects and users are flocking to Base Chain for its focus on developer experience and rapid growth. And Cardano? Still months away from its magical “Basho” phase.
If Cardano doesn’t accelerate its glacial pace of development, it will become irrelevant before it even gets off the ground. The crypto community has no patience for procrastination. In the next layer 2 showdown, Base Chain clearly has tremendous momentum on its side.
Torsten Hartmann — I hope you have all your life’s savings in ETH. And I hope you stay committed to it forever.
Speed is failure of focus. It causes blockchain projects to be irrelevant in the future. Shutting down at random or so broken that it can’t be fixed, so it automatically stops in development. Bitcoin isn’t the biggest crypto because it’s fast or the phrase (it was the first). It’s solid and slow by means they take there time. Stop putting crypto projects against each other and focus more on working together, so we can build this space all together. It’s not a race. If you don’t see that, nobody can help you.