Cardano is a leading proof-of-stake (PoS) blockchain network that is currently tenth largest by market capitalization.
The network supports several activities such as building and deploying of smart contracts, decentralized applications, and also serves as a launchpad for new crypto projects built on it.
Cardano’s approach to development is highly scientific, with the founder and CEO Charles Hoskinson never allowing any new changes to be made unless tested scientifically and peer-reviewed.
The network also has a unique consensus mechanism that it uses, with its own wallets developed by the team. If you ‘re looking for a PoS project but are not satisfied with Cardano, there are other alternatives to it and the following are the top ones.
Solana
Solana is a PoS network that has rivaled Ethereum, the first and biggest PoS network. It has even been named as the “Ethereum Killer” by supporters of the project because of the possibilities that surround it.
By design, Solana is infinitely scalable, meaning the network always adjusts itself to make room for more as the demand continues to increase. Solana has an additional consensus mechanism known as proof-of-history (PoH) which is what facilitates the scalability.
With the high transaction speed, high efficiency and low transaction fees, Solana is definitely a great alternative to the Cardano network for developers and other users.
Algorand
Algorand is described as a “self-sustaining” decentralized PoS blockchain network. It supports a wide range of applications through its secure, scalable and efficient platform which makes it a great destination for developing these applications.
The network is highly scalable, handling over one million transactions per second, because it was created as an alternative to other crypto networks like Bitcoin and Ethereum which are significantly slower with low scalability.
Because of the high scalability, it is also a low-fee network to use, which makes it a great alternative to Cardano.
Polygon
Polygon is a Layer 2 blockchain network created to scale the Ethereum network. It is a well-structured and easy-to-use platform that was designed to make Ethereum as efficient as its rival networks.
The most outstanding thing about Polygon is Polygon SDK, which is a modular, flexible framework that supports building multiple types of applications. This is what quickly turned Polygon into a developer hub.
It is Polygon that has also made Ethereum a multi-chain network, placing it in the same class as Polkadot and other organically multi-chain networks. The native token, MATIC, is an ERC-20 token used to pay for expenses on Polygon, and continues to play more roles towards securing the network.
Polkadot
This is known as a Layer 0 metaprotocol. It got that name because it was designed as a platform to support a network of layer 1 blockchains known as parachains (parallel chains). The network is governed mainly by a community of people holding its native token, DOT.
Through decisions made by these token holders, the network can autonomously and forklessly update its own codebase. Polkadot supports a decentralized web that simplifies the creation of new applications, institutions and services.
It is also used to connect public and private chains, permissionless networks, oracles as well as future technologies in a way that allows seamless sharing of information between these networks.
Cosmos
Cosmos is a proof-of-stake blockchain network designed to solve some of the “hardest problems” facing the blockchain industry, such as “slow, expensive, unscalable and environmentally harmful” blockchain networks like Bitcoin.
It offers an ecosystem of connected blockchains that make the challenges surmountable. It also seeks to make blockchain technology more easily usable by simplifying the technology around decentralized applications.
Cosmos also provides an Interblockchain Communication protocol that facilitates communication between blockchain networks to enhance interoperability.
The network’s native token, ATOM, is earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the network’s main blockchain secure. The token is also used for governance purposes.
