Cardano overtook BINANCE Coin this Saturday, May 22, and became the fourth largest cryptocurrency in terms of capitalization.
With the largest cumulative gains in 2021, BNB is among the top 10 assets that suffered the most during the current downturn, paving the way for ADA, which has lost less in recent days.
This was enough for the native blockchain token, Cardano, to rank fourth in the world, behind Tether, Ethereum and Bitcoin, its market value was around $45 billion.
Cardano attacks Ethereum with the update Alonzo.
ADA has more ambitious goals and is in fact targeting ETHereum. The Cardano project, which already uses a proof of stake system, is expected to launch support for smart contracts on the test network in May.
Cardano is expected to soon become a major competitor to Ethereum and Binance Smart Chain in the decentralized finance industry.
ADA fell around 26% on the week, while BNB fell 48% and ETH fell 42%. Over the month, ADA is up 21%.
Cardano proposes to create its own cryptocurrency under the name of "Native Token". On the Ethereum network, cryptocurrencies, more commonly known as Tokens, have become standardized under the ERC-20 standard. To create one, however, you have to go through the programming of a "Smart-Contract".
To create your own native Token, the current possibilities are quite restrictive. You must be able to manage a Cardano node, Be familiar with the concept of UTXO model (Unspent transaction output).
Once your native Token is created with the name you want, you can then distribute it among your acquaintances or your own ecosystem on Cardano.
