By Tobi Loba
Laptop Mag, a mainstream website that reviews and benchmarks the latest laptops and tablets, has some hours ago described Cardano (ADA), the 7th largest cryptocurrency by market cap, as the best crypto for eco-friendly advocates. Therefore, it’s recommended for investors to buy in 2021.
Laptop Mag published an article titled “Best cryptocurrencies 2021 by utility.” The article is based on six cryptocurrencies ranked as the best for investors and traders in 2021. The digital currencies include Ethereum (ETH), Monero (XMR), VeChain (VET), Polkadot (DOT), Cardano (ADA), and AAVE (LEND).
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Reasons for ranking Cardano (ADA) ahead of others were highlighted in the article. According to Laptop Mag, Cardano (ADA) is one of the best cryptocurrencies in 2021 by utility because it’s a blockchain with academic backing.
Going by the article, another reason for shortlisting Cardano (ADA) ahead of others is because it consumes less energy compared to Bitcoin (BTC), the flagship digital currency powered by proof-of-work (PoW) consensus algorithm. However, it’s acknowledged that the blockchain project is still a work in progress.
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Laptop Mag further described Cardano as follows:
“ADA is a cryptocurrency that lives on the Cardano blockchain. Ethereum co-founder Charles Hokinson founded Cardano in 2015, so it’s no surprise that, similar to Ethereum, Cardano aims to feature smart-contract functionality.
“Cardano has several objectives; one of them is offering speedy cryptocurrency transactions. Bitcoin uses the proof-of-work (PoW) algorithm to validate BTC transactions on the blockchain, which relies on a peer-to-peer network to mine new blocks. This process, however, is slow and wastes too much computing power.
“Cardano, on the other hand, uses the proof-of-stake (PoS) algorithm. At the risk of getting too technical and boring you to death, all you need to know is that PoS is quicker and consumes less energy than the electricity-guzzling PoW method.”
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In conclusion, Laptop Mag pointed out that Cardano (ADA) prides itself on being a peer-reviewed blockchain, which implies that any updates to the blockchain platform are thoroughly researched and validated by experts. So, it’s recommended as one of the best digital currencies to buy in 2021.
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