As a long-term crypto investor in Cardano, I’m thrilled to see the recent surge in activity on the Sundae v3 DEX and the upcoming Chang Hard Fork upgrade. The impressive performance of Sundae v3 with over 900 orders executed in the same block and half of them within 30 seconds is a testament to the improving infrastructure of the Cardano ecosystem.
As a researcher studying the cryptocurrency market, I’ve noticed an unexpected surge in activity with the recent update of Sundae v3 on the Cardano blockchain. In response, Charles Hoskinson, the founder of Cardano, felt compelled to bring this development to the attention of the larger crypto community, expressing that “the protocol is coming to life.”
The Sundae V3 Blowout
As a data analyst, I’ve examined the recent performance of Sundae v3, a prominent Decentralized Exchange (DEX) operating on the Cardano blockchain. Based on available reports, this exchange processed approximately 9264 orders in a single day.
And remember that so much amazing tech is coming over the next few years. Cardano is waking up
— Charles Hoskinson (@IOHK_Charles) June 23, 2024
Based on information from Pi Lanningham, Sundae Labs’ CTO, approximately 900 out of all the processed orders were completed within the same time block. Furthermore, half of the total number of orders were executed within thirty seconds, and seven out of ten orders were finished under one minute. Additionally, nearly all of the orders, or 90%, were finalized within 221 seconds.
Significant progress on Sundae v3’s enhanced performance serves as an important milestone for the Cardano blockchain, designating it as a prime choice for hosting decentralized applications (DApps). Over the past few months, the Cardano community has seen numerous events and upgrades, signaling a resurgence and strategic shift within the crypto sphere.
Approximately two weeks ago, Hoskinson signaled the anticipated Chang Hard Fork update, indicating that it should become active in June.
The Cardano Node upgrade to version 9.0, an important step indicating readiness for the Chang Hard Fork on Cardano, is predicted to be released around June. With only a week left in the month, excitement among the Cardano community is building as they eagerly await this update.
The Cardano Chang Hard Fork Expectation
During the ongoing Chang Hard Fork upgrade, Cardano is transitioning towards more decentralized governance in order to enhance community participation. The founder of Cardano outlined their vision for blockchain governance which includes the implementation of Decentralized Representatives (dReps). These dReps will hold substantial control over the treasury, marking a notable shift in power distribution without the need for a fully established constitution.
Cardano’s Light Wallet Lace now supports delegating ADA tokens to multiple stake pools without having to divide funds among various accounts – a feature referred to as multi-staking or multi-delegation.
In the end, this aspect is designed for users with a strong focus on security when it comes to managing their financial investments.
I’ve noticed an uptick in frequent upgrades, particularly the surge in Sundae v3 orders, which could be a sign that Cardano is starting to become more active according to Hoskinson’s observation. Meanwhile, ADA has managed to gain 0.04% within the last 24 hours and is now priced at $0.3861.
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2024-06-23 22:22