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According to Cardano Blockchain Insight and pool. pm, the Cardano (ADA) network has maintained record throughput for almost two weeks with the launch of the decentralized exchange, or DEX, SundaeSwap, the first of its kind to run on Cardano. At the same time, the total value locked on the ADA blockchain reached an all-time high of approximately $80 million despite the token’s recent drop in price due to the ongoing market decline.
The current average blockchain network usage is hovering at 93.19%, which means that 93.19% of its blocks are filled. In context, the figure was only 32.49% on New Year’s Eve. The number of ADA wallets is also on the verge of breaking the 3 million mark.
Many ADA enthusiasts have taken to social media to celebrate important events. However, the phenomenon of the network getting closer to full capacity by adding just one DEX has raised questions about its usefulness, although scaling solutions are coming soon. Reddit user Additional_Till_838 noted:
“I don’t like it because it paints a picture of the Cardano blockchain being overwhelmed and struggling to keep up with the load. This may scare investors away from Cardano and make them think that it is an unreliable blockchain network.”
Not everything went smoothly during the launch of SundaeSwap. Soon, user reports of failed transactions began to circulate widely on social media. At the time of publication, users were still claiming that their DEX orders remained pending despite having submitted them a few days ago. More importantly, the platform is blocked in a highly publicized commercial dispute regarding accusations of not delivering on investor promises with the Cardano CardStarter acceleration program. Even Charles Hoskinson joined in the rout, telling both sides to “come together!” and resolve their differences through arbitration or litigation.
🎁 We have just released an update to our orders page, you should now be able to see the approximate queue depth of a pool! Simply click to expand an order for more info.
This update should provide additional info on the current state of congestion. ⌛️ 1/2
— SundaeSwap Labs 🍨 (@SundaeSwap) January 26, 2022
#Cardano #network #reaches #record #power
