Charles Hoskinson’s smart contract platform, Cardano, is now dealing with a serious problem. Hoskinson had previously asserted that the Cardano network could potentially support up to a mind-boggling one million transactions per second (TPS), but the truth is turning out to be rather different. On Cardano-based decentralised exchanges (DEXes), certain trades take up to 30 minutes to execute, which causes delays for users.
Cardano, which aims to provide an unmatched user experience and has been heralded as a revolutionary “Ethereum killer,” boasts an astounding array of technological capabilities. The network has recently experienced a significant setback with time-consuming exchanges that might jeopardise its position as a market leader in the DeFi space.
The speed at which transactions are processed on a blockchain network is crucial to its success. Cardano was positioned as a potential game-changer in the industry by its much-touted “1 million TPS” claim. However, in reality, achieving such a performance standard seems to be a difficult challenge. The present transaction delays show a clear discrepancy between Cardano’s theoretical potential and its actual use.
Users of the Cardano network are very upset about this issue, with many recommending a move in liquidity in favour of MuesliSwap, a DEX on the Cardano network. Despite the network’s problems, MuesliSwap has maintained quicker transaction speeds, offering a more effective and user-friendly service.
It is important to note that the problem is not with any one exchange but rather with the network that supports it. since a result, even if consumers prefer MuesliSwap due to its relative speed, the general issue still exists and has to be solved at the network level since the decentralised exchange has just improved the current technology.
