Cardano taps Hydra to undercut Ethereum as gas fees skyrocket

Cardano taps Hydra to undercut Ethereum as gas fees skyrocket

May 10, 2023

By Michael Nderitu

How many are 1,10,100 ADAs worth today

Cardano takes advantage of upper hand in lower fees compared to rival Ethereum.

ADA slips below key support level after struggling to find bullish momentum.

The crypto market is currently at a stage where a network’s weakness may pave the way for another to thrive. The rivalry between Ethereum and Cardano is perhaps an ideal example of this, with the latter undercutting the former’s user base.

Cardano is one of the top blockchain networks that is currently benefiting from the rising Ethereum gas fees. Investors are reportedly switching to the likes of Cardano which is a more cost-efficient network largely thanks to one key weapon in its arsenal. Cardano’s hydra upgrade made the network more scalable.

Here’s a comparison of the fees collected on both networks. Ethereum fees have been growing exponentially in the last few days. This growth has partly been linked to increased network congestion due to the memecoin hype.

Meanwhile, Cardano fees stood pale in comparison to Ethereum. While ETH fees recently peaked at $35 million, Cardano fees recently peaked at slightly above $13,000.