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Hoskinson: Cardano Is Waking Up

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Sun, 23/06/2024 - 18:29
Hoskinson: Cardano Is Waking Up
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Cardano, one of the leading proof-of-stake blockchain networks, is waking up, according to founder Charles Hoskinson. 

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"And remember that so much amazing tech is coming over the next few years," the cryptocurrency proponent said in a post on the X social media network.  

Hoskinson's bullish social media post came in response to some statistical data that showcases the performance of SundaeSwap V3. 

The third version of the popular AMM-based DEX went live on the Cardano mainnet last month. Its contracts now offer a substantially more efficient pricing model. On top of that, the latest version of SundaeSwap now boasts a much larger capability with 35 transactions per second.  

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Theoretically, the third iteration of the popular DEX is capable of processing a whopping 907,200 orders in a single day.  

SundaeSwap V3 has processed roughly 9,264 orders over the past 24 hours alone, according to Pi Lanningham, the chief technology officer of Sundae Labs. Notably, the vast majority of these orders were executed in less than a minute. 

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Cardano used to suffer from network congestion, but SundaeSwap V3 is supposed to tackle this issue with a much higher transaction throughout. This could result in a much higher total value locked (TVL) on the blockchain network.

According to DefiLlama, Cardano is currently in 29th place by TVL, falling behind such arcane projects as Scroll and Gnosis. Minswap, Lindogo, Liquid, Astarter, and SundaeSwap are the five biggest names on Cardano. 

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