According to Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record capacity for nearly two weeks due to the launch of the SundaeSwap decentralized exchange, or DEX, the first of its kind to go live on Cardano. At the same time, the total value locked on the ADA blockchain reached a record high of approximately $80 million, despite the recent drop in the token price due to the current downward trend.
The current average load of the network blockchain stands at 93.19%, which means that almost all of its blocks are being filled. In context, the metric stood at just 32.49% on New Year’s Eve. The number of ADA wallets is also about to cross the 3 million mark.
Many ADA enthusiasts took to social media to celebrate the milestones. However, the phenomenon of the network approaching full capacity due to the addition of a single DEX raised questions about its usefulness, although scaling solutions are yet to come. Reddit user Additional_Till_838 noted:
“I don’t like this because it paints a picture of the Cardano blockchain being overloaded and struggling to handle the load. This could scare investors away from Cardano and make them think that it is not a reliable blockchain network.”
It wasn’t all smooth sailing during the launch of SundaeSwap either. Soon user reports of failed transactions began to circulate on social media. As of press time, users continue to claim that their DEX orders are still not being processed, despite having sent them a few days ago. More seriously, the platform is in the midst of a publicized trade dispute over allegations of failed promises to investors with Cardano’s accelerator program, CardStarter. Even Charles Hoskinson joined the debacle, telling the two sides to “come to terms” and resolve their differences through arbitration or litigation.
We have just released an update to our orders page, you should now be able to see the approximate queue depth of a pool! Simply click to expand an order for more info.
This update should provide additional info on the current state of congestion. âŒ›ï¸?? 1/2
— SundaeSwap Labs (@SundaeSwap) January 26, 2022
We just posted an update to our order page, you should now be able to see the approximate queue depth of a pool! Simply click to expand an order for more information.
This update should provide additional information on the current status of the congestion.