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Cardano Ecosystem

Elevenews

05/23/2023

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Cardano Network Faces Major Problem, Swaps Take 30 Minutes - ELEVENEWS

Cardano, the smart contract platform developed by Charles Hoskinson, is currently facing a significant issue. Despite Hoskinson’s earlier claims that the Cardano network could theoretically handle up to a...

Cardano Network Faces Major Problem, Swaps Take 30 Minutes - ELEVENEWS

Cardano, the smart contract platform developed by Charles Hoskinson, is currently facing a significant issue. Despite Hoskinson’s earlier claims that the Cardano network could theoretically handle up to a staggering one million transactions per second (TPS), the reality is turning out to be quite different. Users are experiencing delays, with some swaps on Cardano-based decentralized exchanges (DEXes) taking up to 30 minutes to complete.

Cardano, the smart contract platform developed by Charles Hoskinson, is currently facing a significant issue. Despite Hoskinson’s earlier claims that the Cardano network could theoretically handle up to a staggering one million transactions per second (TPS), the reality is turning out to be quite different. Users are experiencing delays, with some swaps on Cardano-based decentralized exchanges (DEXes) taking up to 30 minutes to complete.

A key factor in a blockchain network’s success is its transaction processing speed. The touted “1 million TPS” promise positioned Cardano as a potential game-changer in the industry. In practice, however, reaching such a performance benchmark appears to be a challenging task. The current transaction delays highlight a stark contrast between Cardano’s theoretical capabilities and its practical application. This issue is causing a significant stir among Cardano users, with many suggesting a shift in liquidity toward MuesliSwap, a DEX on the Cardano network. MuesliSwap has managed to maintain faster transaction speeds, providing a more efficient and user-friendly service amid the network’s issues. It is worth noting that the issue is not with any exchange in particular, but with the network upon which it operates. As such, even as users gravitate toward MuesliSwap for its relative speed, the overall problem persists and should be addressed at a network level since the decentralized exchange has simply optimized the existing technology.

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