Ethereum supporters still believe in Cardano centralization and think it is Ghostchain and there are no real transactions on it
Evan Van Ness, a popular Ethereum maxi, has once again mentioned Cardano blockchain in one of his tweets, calling it a “zombiechain,” referring to a new low number of transactions on the network and even comparing it to Uniswap, which, according to him, does substantially more transactions than Cardano.
Ethereum Maxi also rated the two networks. According to the data provided, Uniswap is valued at $6 billion, while Cardano is valued at $20 billion. However, the valuation does not help ADA generate even half of Uniswap’s fees.
It is important to note that the network’s revenue is mostly formed by transaction and interaction fees. Cardano usually aims at bringing a cheaper and more scalable experience to users, while Ethereum-based projects may sometimes offer extremely expensive transactions when the blockchain is under a heavy load.
Some users also noted that it is wrong to compare Uniswap and Cardano as they both use different models: account-based and eUTXO. The eUTXO model is more robust than the account-based model which requires a state machine that will determine the state of an account at any given time. However, the main downside of the eUTXO model is its inability to fit multiple transactions into a single block, which is an important feature for decentralized applications and services.
Van Ness also added that the cheapness of the network is possible only because of its “centralized” nature and empty blocks. However, it is hard to objectively say that Cardano is more centralized than Ethereum.
Previously, we mentioned how just one entity that claims to be decentralized, in fact controlling more than 30% of the entire network, has some dangerous centralization signals.
