Main navigation

Cardano Dapp Faces Major Problem On May 22nd, Users Report 30 Minutes Swaps

Tue, 05/23/2023 - 09:06
article image
Arman Shirinyan
While being acknowledged as one of the most novel and technologically sophisticated networks in the blockchain realm, Cardano still faces obstacles
Cardano Dapp Faces Major Problem On May 22nd, Users Report 30 Minutes Swaps
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The information provided is accurate as of the time of writing. It is important to note that blockchain is a dynamically evolving system, and variables such as transaction processing speed can fluctuate frequently.

Cardano, the smart contract platform developed by Charles Hoskinson, is currently facing a significant issue. Despite Hoskinson's earlier claims that the Cardano network could theoretically handle up to a staggering one million transactions per second (TPS), the reality is turning out to be quite different. Users are experiencing delays, with some swaps on Cardano-based decentralized exchanges (DEXes) taking up to 30 minutes to complete. Users are currently posting numerous frustrated comments on social networks like Twitter after experiencing difficulties in completing a simple transaction.

Cardano has been hailed as a revolutionary "Ethereum killer," boasting an impressive array of technical capabilities and aiming to deliver an unrivaled user experience. However, the recent problem of time-consuming swaps is a major setback for the network, potentially undermining its position as a leading player in the DeFi sector.

Cardano Meme Token SNEK Soars 200% in Week: Here's What You Should Know

A key factor in a blockchain network's success is its transaction processing speed. The touted "1 million TPS" promise positioned Cardano as a potential game-changer in the industry. In practice, however, reaching such a performance benchmark appears to be a challenging task. The current transaction delays highlight a stark contrast between Cardano's theoretical capabilities and its practical application.

Twitter screenshot
Source: Twitter

This issue is causing a significant stir among Cardano users, with many suggesting a shift in liquidity toward MuesliSwap, a DEX on the Cardano network. MuesliSwap has managed to maintain faster transaction speeds, providing a more efficient and user-friendly service amid the network's issues.

It is important to note that the issue is not inherent to any particular exchange, but rather stems from the design of a specific decentralized application (dApp) built on top of the network. As such, even as users gravitate toward MuesliSwap for its relative speed, the overall problem persists and should be addressed at a network level since the decentralized exchange has simply optimized the existing technology.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.