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Billionaire and mathematician Charles Hoskinson, who created IOG and then built the Cardano blockchain with his team, has published a post to address the growing concerns about Cardano blocks being allegedly too full and unable to take in more data.
He noticed a sharp change in these concerns since, for many years, he stated, critics kept claiming that Cardano was nothing but a “ghostchain” with “no use and utility.” All of a sudden, Cardano has become “too busy.”
Hoskinson dispels new Cardano allegations
Hoskinson has indeed debunked rumors about Cardano being a “ghostchain” without any utility for several years. For instance, he took to Twitter to dispel these rumors in October 2022. The “ghostchain” narrative was launched by Ethereum maximalists.
Striking back at them, Hoskinson tweeted that Cardano had reached a new record in terms of transaction count and stated that as many as 25% of all transactions on the blockchain were done in 2022. That milestone was possible thanks to multiple decentralized applications launched on Cardano and to the change in the fashion in which transactions were processed.
In particular, the launch of SundaeSwap, Minswap and various NFT marketplaces helped Cardano to see a tremendous surge in transaction count, providing a great load for the network. In reality, Hoskinson pointed out to Cardano critics that this network was designed in such a way that it can handle massive numbers of operations and a high load in general.
Here’s what caused Cardano “full-block” rumors
Besides, per Hoskinson, there is a “huge design space to optimize the network and DApps for more scale both in the short term and long term.” Hoskinson even attached a link to his recent live video on YouTube, in which he talks about Cardano’s upgrades: Mithril, Hydra and several others. All of them greatly improved the Cardano chain in many ways.
Cardano’s accounting model for handling uses eUTxO, and ADA has to “insert” multiple entities in one block, and then after that it redistributes funds among them; this makes numerous transfers per each Cardano block de facto possible. However, this mechanism prevents some blockchain tracking platforms from seeing the actual number of transactions performed on Cardano. This is perhaps where these rumors addressed by the Cardano founder above come from.
Godfrey Benjamin
Arman Shirinyan
Alex Dovbnya
