This Cardano “Secret Sauce” Brings It into View of Global Financial Infrastructure: Community
The post This Cardano “Secret Sauce” Brings It into View of Global Financial Infrastructure: Community appeared on BitcoinEthereumNews.com. According to ADA Whale, a Cardano community-focused Twitter account, Cardano’s capacity for multi-address transactions might be the ”secret sauce” that could make...
According to ADA Whale, a Cardano community-focused Twitter account, Cardano’s capacity for multi-address transactions might be the ”secret sauce” that could make it a big contender for running future global financial infrastructure.
This sort of thing is Cardano’s secret sauce. It’s useful today, shows that the space’s focus on TPS is dumb
But the flexibility and capacity displayed at the very base layer also shows why Cardano is such a big contender for running global financial infrastructure in future https://t.co/ECmZrdHibb
— ADA whale (@cardano_whale) July 21, 2022
ADA Whale spoke in light of the new feature on Eternl Wallet that allows multi-address transactions. Cardano’s light wallet, Eternl (formerly ccvaultio), introduced the new TxBuilder feature that allows users to add multiple outputs to a transaction and choose which UTxOs to spend.
U.Today reported last month that ADA could be sent to multiple addresses in one go as the Typhon wallet received an upgrade to support multi-address transactions. Users will now be able to send ADA or other supported tokens to multiple recipients in a single transaction, resulting in reduced transaction costs.
On Cardano you can send Multiple Assets in a single transaction. That’s means on Cardano you can send 100 Assets to different addresses in one single Transaction. This would take 100 separate Transactions on Ethereum or Solana and totally destroys any TPS argument. Need a new 📏
— Lucid (@LucidCiC) July 19, 2022
Typhon, a Cardano blockchain wallet, supports sending and receiving CNFTs, native tokens and also tokens with metadata registered with the registry.
Scalability is not about a million TPS
Cardano is currently in the Basho phase — where it refuses to define scalability in terms of “a million TPS.”
According to IOHK, it is logical to use TPS as a metric in the same context (for instance, to compare two Cardano node versions), whereas “using it as a means of comparison between blockchains isn’t.”
In light of this, IOHK emphasized the importance of considering and thinking about throughput, finality and concurrency as key metrics for scalability. Throughput is the amount of data processed in a given amount of time, whereas finality is the length of time the system takes to complete a transaction. Concurrency is also described by IOHK as the volume of work that several actors can complete without interfering with one another.
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