Hoskinson: Cardano Is Gaining Momentum
Cardano, a prominent proof-of-stake blockchain network, is beginning to show signs of growth, according to Charles Hoskinson, the founder. In a recent post on the X social media network, Hoskinson expressed his optimism about the future of Cardano, highlighting the introduction of exciting new technologies in the coming years.
His positive sentiment was in response to the performance data of SundaeSwap V3, a popular decentralized exchange (DEX) based on an automated market maker (AMM) model. SundaeSwap V3, which recently launched on the Cardano mainnet, now boasts a more efficient pricing model and a significantly increased capacity of handling 35 transactions per second.
The potential of SundaeSwap V3 is immense, with the capability to process a staggering 907,200 orders in a single day. Over the past 24 hours alone, approximately 9,264 orders were executed on the DEX, with the majority completed in less than a minute.
SundaeSwap V3 is expected to alleviate the network congestion issues previously experienced on Cardano, leading to a higher transaction throughput. This, in turn, could result in a considerable increase in the total value locked (TVL) on the Cardano blockchain network.
At present, Cardano ranks 29th in terms of TVL, lagging behind projects such as Scroll and Gnosis. However, prominent names like Minswap, Lindogo, Liquid, Astarter, and SundaeSwap contribute significantly to Cardano’s ecosystem.
With the recent advancements in technology and the promising performance of SundaeSwap V3, Cardano is poised to make significant strides in the blockchain industry. The network’s growth potential is becoming increasingly evident, awakening interest and excitement among crypto enthusiasts.