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This Cardano "Secret Sauce" Brings It into View of Global Financial Infrastructure: Community

Thu, 07/21/2022 - 14:38
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Tomiwabold Olajide
Cardano is now in Basho Phase
This Cardano "Secret Sauce" Brings It into View of Global Financial Infrastructure: Community
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According to ADA Whale, a Cardano community-focused Twitter account, Cardano's capacity for multi-address transactions might be the ''secret sauce'' that could make it a big contender for running future global financial infrastructure.

ADA Whale spoke in light of the new feature on Eternl Wallet that allows multi-address transactions. Cardano's light wallet, Eternl (formerly ccvaultio), introduced the new TxBuilder feature that allows users to add multiple outputs to a transaction and choose which UTxOs to spend.

U.Today reported last month that ADA could be sent to multiple addresses in one go as the Typhon wallet received an upgrade to support multi-address transactions. Users will now be able to send ADA or other supported tokens to multiple recipients in a single transaction, resulting in reduced transaction costs.

Typhon, a Cardano blockchain wallet, supports sending and receiving CNFTs, native tokens and also tokens with metadata registered with the registry.

Scalability is not about a million TPS

Cardano is currently in the Basho phase — where it refuses to define scalability in terms of "a million TPS."

According to IOHK, it is logical to use TPS as a metric in the same context (for instance, to compare two Cardano node versions),  whereas "using it as a means of comparison between blockchains isn't."

In light of this, IOHK emphasized the importance of considering and thinking about throughput, finality and concurrency as key metrics for scalability. Throughput is the amount of data processed in a given amount of time, whereas finality is the length of time the system takes to complete a transaction. Concurrency is also described by IOHK as the volume of work that several actors can complete without interfering with one another.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.