Cardano, one of the leading proof-of-stake blockchain networks, is waking up, according to founder Charles Hoskinson.
Cardano, one of the leading proof-of-stake blockchain networks, is waking up, according to founder Charles Hoskinson.
“And remember that there will be many amazing technologies coming in the coming years,” the cryptocurrency advocate said in a mail on social network X.
Hoskinson’s bullish social media post came in response to some statistical data showing the performance of SundaeSwap V3.
The third version of the popular AMM-based DEX was launched on the Cardano mainnet last month. Its contracts now offer a substantially more efficient pricing model. On top of that, the latest version of SundaeSwap now features a much higher capacity with 35 transactions per second.
Tomiwabold OlajideIn theory, the third version of the popular DEX is capable of processing a whopping 907,200 orders in a single day.
SundaeSwap V3 has processed approximately 9,264 orders in the last 24 hours alone, according to Pi Lanningham, CTO of Sundae Labs. Notably, the vast majority of these orders were executed in less than a minute.
Yuri MolchanCardano used to suffer from network congestion, but SundaeSwap V3 is supposed to address this issue with a much larger transaction at all times. This could result in a much higher total value locked (TVL) on the blockchain network.
According to DefiLlama, Cardano is currently in 29th place for TVL, falling behind such arcane projects as Scroll and Gnosis. Minswap, Lindogo, Liquid, Astarter and SundaeSwap are the five biggest names in Cardano.
