Crypto Quant analyst says leading altcoin rival Cardano is bigger than Solana. We took a comparative look at Cardano and Solana’s recent performance.
Who will prevail in the competition between the two altcoins?
Analyst Benjamin Cowen claims Cardano is better than Solana after hackers stole money from Solana’s network. For some time now, there has been an ongoing debate about which of the various Blockchain networks is better than the others. The controversy sometimes boils down to two channels where fans claim their favorite is the best.
However, things seem to be picking up on their own and dramatically ending the argument between Cardano and Solana. Something’s happened to Solana’s network, and it’s not good. The rivalry between Cardano and Solana Blockchains has been a hot topic lately. But Solana seems to be losing the battle, especially when it comes to security and reliability. For one, the Cardano network has never been hacked. Also, it hasn’t had enough downtime to go offline in the past five years.
Benjamin Cowen: Cardano > Solana
On the other hand, Solana had problems with these two issues on several occasions. As you follow on Kriptokoin.com, the most recent event occurred at the beginning of August 2022. As we reported earlier in the week, the Solana network has been compromised by attacks. This attack resulted in a loss of approximately $5.8 million from nearly 8,000 wallets. Fortunately, a preliminary investigation by Binance exchange determined that the attack did not affect hardware wallets in cold storage and centralized exchanges.
The most up-to-date research also shows that Solana Exploit is dependent on Slope Wallet and Blockchain itself remains uncompromised. But the unfortunate event led people like Benjamin Cowen of Crypto Quant to declare Cardano much better and bigger than Solana. Benjamin shared a tweet for this purpose. It seems that Cardano fans agree with him.
— Benjamin Cowen (@intocryptoverse) August 3, 2022
Meanwhile, Cardano Founder Charles Hoskinson recently dropped the possibility of collaborating with Solana. Hoskinson compared Solana to older Nintendo consoles. Solana also experienced some network outages. There was a slowdown in operations the following year due to DDoS attacks.
Interestingly, the hacking incident did not have much of an impact on Solana’s market situation. Currently, SOL is trading around $40.63, down 7.52% in the last 7 days. ADA is changing hands at $0.5171, down 1.26%. Solana sits in the 9th position in the top 10 in terms of market capitalization. His rival, Cardano, stands at 8th place, just above Solana.
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