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Sunday, November 27, 2022

Cardano Network Is Currently At Record Capacity

According to both the Blockchain Insight of ADA and pool.pm, the Cardano network has been able to maintain its record capacity for two whole weeks. This was due to the launch of the decentralized exchange, or DEX, SundawSwap, the first of its kind that would go live on this altcoin.

At the same time, the total locked value for the blockchain of ADA reached a record of around $80 million, despite the recent decline in the price of the token from the ongoing down market. 

Cardano Has Been Overloaded To Its Extreme

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The current average load of blockchain for the network hovers at around 93.19%, which means that 93.19% of its blocks have been filled. In that context, the metric seemingly amounted to only 32.49% on New Year’s Eve.

The number of ADA wallets is also on the verge of breaking through the mark of 3 million. Most of the enthusiasts of Cardano did go on social media to celebrate this milestone. However, the phenomenon of the network working at full capacity due to the addition of just a single DEX does raise questions about its utility. 

A user on Reddit stated that they disliked this phenomenon because it painted a picture of the blockchain of Cardano which was struggling and overloaded to handle the load.

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This could definitely scare most investors away from the altcoin- whilst making them think that it would not be a reliable network of blockchain. 

It would be wrong to assume that the launch of SundaeSwap for Cardano went smoothly either. Soon, there were user reports of transactions falling left, right, and center on social media.

Even Charles Hoskinson came in on the debate, asking the warring segments to focus and settle their differences through litigation. This came after the platform found itself being locked in a publicized commercial dispute regarding allegations of failed investor promises with the accelerator program of the altcoin- CardStarter

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