Cardano founder boasted massive ADA transfer made to 217 users in single transaction via eUTXO
Mathematician and crypto billionaire Charles Hoskinson, founder of Cardano and IOG, has shared a screenshot of a successful major transaction made through Cardano’s extended UTXO model.
He boasted that 16,164 ADA tokens were distributed to 217 holders in a single transaction. The fee for it was as little as 0.78173 ADA.
He used this example to censure Cardano haters, who claim that the platform cannot scale to this model.
Biggest single ADA transfer
According to the Reddit post, whose screenshot Hoskinson shared on his Twitter page, the transaction was made by a Cardano-based NFT project called Space Pugs Alpha.
On Reddit, the author said that such transactions happen every day on the Cardano chain via its Extended UTXO (eUTXO) model.
Popular anti-Cardano narrative
UTXO is a model used by both the Bitcoin and Ethereum chains. Cardano went further and created the extended UTXO model. It supports a much more expressive form of validation scripts, which includes scripts that enforce invariants across entire transaction chains.
The common anti-Cardano narrative prevailing around the crypto industry at the moment is that the eUTXO model is unable to fit more than one transaction into a block.
In a tweet published a week ago, Hoskinson stated that Cardano “moves mountains every year,” but its opponents keep repeating on Twitter that this network’s developers do not deliver. Hoskinson keeps responding to these accusations from time to time, but the haters do not seem to go away.
Cardano (ADA) market performance
Although ADA remains in the top 10 list by market capitalization value, its recent performance has not been very encouraging. The last time ADA hit the market was in August last year, when bitcoin was at very high price levels.
So, the rise of ADA that many look forward to may be largely dependent on the flagship cryptocurrency, and the same is true for other altcoins.
At the time of writing, ADA is changing hands at $0.4282 per CoinMarketCap.
