2023-05-22 18:06:20
We have already written regarding the Cardano ecosystem many times, how rapidly it develops. According to the latest news, the development of Cardano also speaks volumes in the sector of decentralized value exchanges. In principle, it can now be executed on the Cardano chain in a few minutes swap transaction, with which, by the way, one of the decentralized exchanges operating on Cardano set a record. And what does this speed mean?
Cardano’s acceleration put into perspective
For example, a transaction on this specific decentralized value exchange It was launched at 7 hours 11 minutes 49 seconds (IST time zone), but the coins arrived at 7:12:43. The whole process took less than two minutes, which is a serious achievement for the Cardano network. Of course, compared to an Ethereum-powered Uniswap, those two minutes are still ridiculously slow, but it’s a huge breakthrough for Cardano. After all, since the beginning, Cardano has been constantly criticized for not really providing functionality in addition to its smart contracts. Which severely affects the performance of dApps built on the network.
However, the latest update, called Alonzo, has already introduced smart contract capabilities to the Cardano network, and the results are now visible. The two-minute swap transaction just presented is a good example of development. Because as speed and performance improve, Cardano will become more and more attractive to more sophisticated DeFi projects. In addition, the decentralized exchanges already operating on Cardano will also be more attractive. However, let’s not forget at the end that a scaling test has not yet been performed on the network. And this is quite often a problem for large decentralized blockchains. So development is all well and good, but Cardano still has room to accelerate if it wants to be truly competitive.
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