Altcoins are becoming increasingly popular over time and some of them are even positioning themselves as real Bitcoin and Ethereum competitors. Take Cardano ADA as an example with its quite stably maintained position within top-5 leaders on CoinMarketCap. However, not only the CoinMarketCap rating is important when it comes to discussing altcoins. VeChain VET, although being far behind ADA on CoinMarketCap (although still not falling lower than the top 50), has a remarkable idea and a plethora of amazing use cases. Well, enough with the long introductions, let’s see what’s about Cardano and VeChain and decide whether we want to exchange ADA to VET or not.
What is ADA?
Cardano Crypto (ADA) is a digital currency that provides users all over the globe with a secured exchange value that does not require an intermediary or third party to carry out the exchange. Cardano’s efficient Blockchain ensures a secure, permanent, and transparent transaction record for everyone.
Nevertheless, as a third-generation blockchain designed as a high-level decentralized Proof-of-Stake protocol, it makes the best alternative for Proof-of-Work networks whose functions of scalability, interoperability, and sustainability are limited by its infrastructure.
What is VeChain?
The VeChain Blockchain enhances supply chain management and business processes. In addition, the VET coin crypto blockchain aims to restructure these processes and information streams for complex supply chains. The platform is hoping to carry out the successful restructuring with the aid of distributed ledger technology.
The VeChain protocol is powered by two individual tokens, which are VET and VTHO, meaning VeChain Token and VeChainThor Energy respectively. VET coin is used to make transactions across the Vechain network while VTHO is used as an energy or gas fee to power smart contracts.
The VeChain crypto platform can perform functions like storage temperature, transportation medium, authenticity, tracking quality, and last-mile delivery of a package from the manufacturer directly to the consumer. This is made possible with VeChain smart chips or RFID tags, and sensors, which deliver vital information onto the blockchain network. Authorized stakeholders can also access broadcasted information.
Background of ADA
The history and development of the Cardano crypto platform started in 2015, even though it was officially launched in 2017. Interestingly, the founder Charles Hoskinson was primarily the co-founder of the Ethereum network before leaving the project to co-found the blockchain engineering company “IOHK”. Now, IOHK is the main body in the development of ADA Cardano.
The Cardano crypto has a maximum supply of 45 billion ADA coins without any certainty on whether future supply will change or how that number will relate to its future smart contracts feature.
Despite ADA Cardano’s clean record of accomplishments, it still has critics that insist that ADA crypto is not what it claims to be.
Background of VET
VET Crypto as a multipurpose industry blockchain serves to improve and enhance business operations and product tracking. Sunny Lu founded the VeChain crypto in 2015. He is the former CIO of Louis Vuitton China. VET token started as a subsidiary of Bitse and its development started in 2015 as an enhanced fork of the Ethereum network.
Its design focuses on the Internet of Things and supply chain management and to this day, Vechain has successfully expanded beyond those two sectors by including multipurpose functionality and customizable support for a wide array of enterprise uses.
In addition, the VeChain crypto developer also focuses on incorporating and enhancing on-chain governance, cheap transaction fees, interoperability, and regulatory compliance. One of VeChain’s goals is to make storage, transportation, supply, and manufacturing of information available to all authorized parties for any enterprise business process making use of the VeChain coin Thor blockchain.
Key features of ADA
When talking about cryptocurrencies, it’s essential to understand what they can offer in terms of technology and how this technology correlates with their mission. As for Cardano, the altcoin has some features worth considering. Here they are:
- Transfer of value
As said earlier, the ADA coin was developed to be a global token used in transferring valuable assets. ADA coin crypto enables the transfer of value like we have in Bitcoin and Ethereum, giving it a significant use case.
ADA allows token holders to stake their tokens and delegate in its stake delegator pool to gain rewards for playing their part in securing the Cardano network.
The native token of Cardano plays a vital role in the governance of the ecosystem as the community or team can use it to cast votes or fund proposals.
- Granting developers the ability to write smart contracts
Developers also play an important role in Cardano’s network. Holding ADA coins grants developers the ability to create smart contracts or DeFi applications on the ADA blockchain.
Key features of VET
Vechain puts careful consideration into its structure so it presents a dedicated approach to the development of its protocol. Thereby producing a convenient structure for the movement of goods and services across the supply chain. This is why crypto VET is recognized as a utility token.
- Dual Token Strategy
A key feature of the VETcrypto coin is the dual token system. The VeChain network developed a two token system for different purposes to provide effective governance that involves the community. The crypto VET token is allocated for funding projects while VTHO is the very power and energy of the blockchain.
With the help of the dual token strategy, a predictable economic model can be provided. The VET coin is the digital cash that can be used as a public investment tool and VTHO runs the smart contracts.
- Anti-counterfeit tags for luxury brands
VeChain smart chips on the other hand are useful for preventing counterfeiting for luxury products and services by luxury brands. The smart chips help to track each individual item and can also detect counterfeits. The Vechain toolchain enables users to create anti-counterfeit tags.
ADA vs VET
$66,346,277,647 as of September 30, 2021
$5,559,070,969 as of September 30, 2021
No burning of token
Burns its fuel token called VTHOR
According to Walletinvestor, ADA’s future price will be $13.999 in five years’ time. The Cardano coin represents an awesome long-term investment for the future with a $100 investment expected to increase to $644.82 by 2026.
It seems VET VeChain is not messing around and it is dominating its sector as well as securing key partnerships with several notable organizations and businesses. According to Walletinvestor, the future price of VET VeChain will be $0.673 by 2026. The token is a good investment with a $100 investment expected to yield $770.9 by 2026.
Achievements of ADA
As of September 27, 2021, ADA is recognized as the third world’s largest cryptocurrency, and it’s not stopping there with tons of network developers swarming to enjoy the explosive growth in DeFi. Cardano’s recent achievements as announced by the team on their social media platforms states that more than 70% of ADA are staked globally in about 2,500 active pools.
For the first time in years, ADA recorded its all-time high of $3.10 on Sep 02, 2021, after the announcement of Cardano’s testnet support of smart contracts. There are hopes that the token will soon set another ATH.
Achievements of VET
An achievement to start with is VeChain integration into Windows Games. VeChain introduced a new version of an SDK code by VeChain developer that is meant to facilitate the integration of VET-based games into the Windows system.
Moreover, Microsoft collaborated with Fabled Lands Eidos to launch a new blockchain-based card game in 2019. The game centred around a 1980s gamebook known as Arena of Death. The game makes use of NFTs with the NFTs containing assets facilitated by the VeChainThor blockchain.
To make things more efficient, Vechain worked with I-Dante to develop E-HCert, which was a blockchain-based Corona Virus records app. The E-HCert program provides a solution that archives Covid-19 real-time-polymerase chain reaction and antibodies Rapid Test records.
Why is Swapzone the best place to exchange ADA and VET?
You can get the ADA and VET cryptocurrencies on Swapzone, which is an exchange aggregator for the best token rates in the market. This positions Swapzone as the best place to get your ADA and VET cryptos. Now, let’s move on to how to exchange ADA and VET coins on Swapzone.
- On Swapzone, you can select any token pairing for ADA and VET from the list of tokens then the site will pull up from all the ADA or VET crypto exchanges.
- Input the amount of token you want to exchange in the “send” section, then you can select the exchange that suits you by clicking on the “exchange” button.
- Input the address where you want to receive your crypto.
- There is also an option for a refund address, which is the address where the asset you are swapping will be refunded to.
- Once done, you click on the “proceed the exchange” button to carry out the exchange.
- When the exchange is finalized, you receive your funds in your wallet. At this point, don’t leave the website but take your time to rate how the process went and write a review.