As a seasoned crypto investor with a significant stake in Cardano, I’m excited about the recent developments surrounding this proof-of-stake blockchain network. The bullish sentiment expressed by its founder, Charles Hoskinson, resonates with me as someone who recognizes the immense potential of this project.
According to its founder, Charles Hoskinson, one of the foremost proof-of-stake blockchain networks, Cardano, is beginning to become active again.
“He expressed his excitement about the vast amount of impressive technology set to emerge in the cryptocurrency sphere within the upcoming years, as shared in a post on the X social media platform.”
Hoskinson’s optimistic social media update stemmed from recent statistics demonstrating the impressive functionality of SundaeSwap V3.
Last month, the third iteration of the widely-used AMM-based decentralized exchange on Cardano’s mainnet was launched. This new version comes with a significantly improved pricing model in its contracts. Additionally, SundaeSwap’s latest edition can handle an impressive 35 transactions per second.
In theory, the third version of the widely-used decentralized exchange can handle an impressive workload of up to 907,200 orders per day.
As a researcher studying decentralized finance platforms, I’ve recently discovered that SundaeSwap V3 processed approximately 9,264 orders within the last 24 hours based on data from Pi Lanningham, the CTO of Sundae Labs. Impressively, most of these trades were executed in under a minute.
Previously, Cardano experienced network congestion leading to limited transaction capacity. However, the introduction of SundaeSwap V3 is expected to alleviate this problem by significantly increasing the network’s transaction throughput. As a result, the total value locked (TVL) on the blockchain could potentially grow substantially.
Based on DefiLlama’s latest report, Cardano ranks 29th in terms of Total Value Locked (TVL) among decentralized finance projects. Notable projects such as Scroll and Gnosis currently surpass Cardano in this category. The top five projects leading the charge on Cardano are Minswap, Lindogo, Liquid, Astarter, and SundaeSwap.
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2024-06-23 21:56