We’ve been spending a bit of time reviewing the competitive landscape in cryptocurrencies lately with the help of Grok, and thought it might be interesting to reflect on the where Cardano sits against it’s competitors.
Question: Can you give a breakdown of the top 10 cryptocurrencies in a tabular format showing: adoption, decentralisation, security, speed, devex, developer commits (or proxy if not open source), governance, open source status?
The table generated was as follows:
- Below is a breakdown of the top 10 cryptocurrencies by market capitalization as of August 11, 2025, compiled from multiple sources including recent market analyses and reports. The list is: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB (BNB), Solana (SOL), XRP (XRP), USDC (USDC), Cardano (ADA), Dogecoin (DOGE), and TRON (TRX). Metrics are based on aggregated data from developer reports, transaction analyses, and industry comparisons. Qualitative ratings (e.g., High/Moderate/Low) are used where data is subjective or varies by source; quantitative figures are provided where available.
| Cryptocurrency | Adoption | Decentralization | Security | Speed (TPS) | Developer Experience | Commits | Governance | Open Source Status |
|---|---|---|---|---|---|---|---|---|
| Bitcoin (BTC) | High: 77% ownership among crypto users; dominant store of value with institutional adoption. | High: ~15,000 nodes, PoW consensus with no central control. | Very High: Highest hashrate, no major hacks in core protocol. | Low: ~7 TPS. | Moderate: C++-based, solid docs but complex for beginners. | High activity: Proxy ~1,200 commits in last 12 months (CryptoMiso/Electric Capital). | Decentralized: Community via BIPs, miners/nodes influence upgrades. | Fully open-source (MIT license). |
| Ethereum (ETH) | Very High: 65% ownership; leads DeFi/NFTs with billions in TVL. | High: Thousands of nodes, PoS with diverse validators. | High: Audited smart contracts, but vulnerabilities in dApps. | Moderate: ~15-30 TPS base; Layer 2s reach 1,000+. | High: Solidity tools (Remix, Hardhat), vast ecosystem. | Highest: ~5,000+ developers, millions of commits analyzed. | Decentralized: EIPs and community/foundation-led. | Fully open-source (LGPL/GPL). |
| Tether (USDT) | Very High: ~$196B supply; dominant stablecoin in trading/DeFi. | Low: Centralized issuance by Tether Ltd. | Moderate: Relies on reserves/audits; past transparency issues. | Varies: Host chain-dependent (e.g., TRON ~2,000 TPS). | Low: Limited tools, not developer-focused. | Low proxy: Proprietary; minimal public activity. | Centralized: Tether Ltd. controls minting/reserves. | Not open-source: Proprietary. |
| BNB (BNB) | High: Binance ecosystem fees, DeFi on BNB Chain. | Moderate: ~100 validators, Binance-influenced. | High: PoSA consensus, regular audits. | High: ~100 TPS. | High: EVM-compatible, Ethereum-like tools. | Moderate: ~100+ commits proxy (GitHub/Electric Capital). | Centralized: Binance selects validators/upgrades. | Partially open-source: Chain code public (LGPL/GPL). |
| Solana (SOL) | High: 11% ownership; leads DEX/NFT volume. | Moderate: ~1,700 validators, hardware barriers. | High: PoH/PoS, improved post-2022 outages. | Very High: ~65,000 TPS theoretical; ~1,365 real. | High: Rust-based, Anchor framework; steep curve. | High: 3,000+ developers, 83% YoY growth. | Decentralized: Validators/community, Foundation influence. | Fully open-source. |
| XRP (XRP) | High: Cross-border payments via Ripple partners. | Low: Ripple holds ~50% supply, ~150 validators. | High: Consensus protocol, low attack risk. | High: ~1,500 TPS. | Moderate: Enterprise SDKs, less dApp focus. | Moderate: ~100 commits proxy (GitHub). | Centralized: Ripple Labs drives decisions. | Partially open-source: Ledger public (ISC license). |
| USDC (USDC) | High: Stablecoin for DeFi/trading, regulated reserves. | Low: Centralized by Circle. | High: Transparent audits, regulated backing. | Varies: Host chain-dependent. | Moderate: Contracts/tools for integration. | Low proxy: Some contracts public, limited activity. | Centralized: Circle controls issuance. | Partially open-source: Smart contracts public. |
| Cardano (ADA) | High: 4.8M+ wallets; growing DeFi/NFT ecosystems with 1,300+ projects. | High: ~3,200 stake pools, Ouroboros PoS; no single pool >1.4% stake. | High: Peer-reviewed protocols, formal verification; regular audits enhance security. | Moderate: ~50-250 TPS base; Hydra reaches ~1M TPS (theoretical/demo). | High: Haskell/Plutus-based; strong academic focus with tools like Remix-like IDEs and 2M+ Plutus downloads. | High: Ranks #2 in GitHub commits (~150,000 YTD, ~8,000 monthly); ~12,000 developers. | Decentralized: Community via CIPs, on-chain voting, DReps/SPOs/CC; Voltaire era fully active in 2025. | Fully open-source. |
| Dogecoin (DOGE) | Moderate: Meme appeal, tipping/merchants. | High: PoW, ~10,000 nodes like BTC. | High: Simple code, inherits BTC security. | Low: ~33 TPS. | Low: Basic scripting, not dApp-oriented. | Low: ~100 commits proxy. | Decentralized: Informal community. | Fully open-source (MIT license). |
| TRON (TRX) | High: Content/DeFi, high transaction volume. | Low: DPoS with 27 representatives. | Moderate: DPoS, needs audits. | Very High: ~2,000 TPS. | Moderate: Java/EVM, docs available. | Moderate: ~100 commits proxy. | Centralized: Foundation/super reps. | Fully open-source (LGPL). |
On this basis Cardano continues to measure up well against peers, with some significant developments due in the next 6-12 months.
We will add more to this post in the coming days to explore where Cardano may be able to build a competitive moat which will be hard for peers to cross.