The project is run by Charles Hoskinson who was one of the original team behind Ethereum back in the day. Although the details are not public, Charles and other senior team members such as Vitalik had a disagreement that ended up leading Charles to go his own way and start the Cardano project.
Ironically, with Ethereums lack of development over the last two years and Cardano being hard at work, the projects are now at similar levels in terms of technology. With Cardarno successfully rolling out their Shelley release last month, you could argue that on a technological level, Cardano is now actually ahead of Ethereum.
One the flipside of this, Ethereum have the largest development community of any blockchain project right now while also currently having the most amount of dApps running on their platform. That said, platforms like EOS and Tron are catching up in the number of dApps running on Ethereum as well as a number of Ethereums dApps having confirmed that they will be leaving the Ethereum chain and moving over the Binance Coin chain soon.
As you may have noticed, we have not made any mention of dApps on the Cardano blockchain as to date, it has nothing of note running on it. This essentially means that it is one of the most technologically advanced platforms out there while having little to zero use cases.
On the flipside of this though, Cardano may end up taking a route similar to VeChain and Icon where they focus on having a small number of dApps that are used by the largest companies in their second using them.
However, all this remains to be seen as the coming years go by but at the time of writing, we do not hold any Cardano at all in our portfolio as we feel that projects like VeChain, XRP, Bitcoin, and Binance Coin have the technology, use cases, media coverage. and partnerships to provide better percentage gains over Cardano.
We will be keeping an eye on any Cardano related announcements over the coming years though and may perhaps add some to our portfolio when they start to confirm their partnerships.