Will This Event Send Cardano To The Bears Again? Or Will Cardano Hop Onto The Bandwagon Led By The Bulls?

The post Will This Event Send Cardano To The Bears Again? Or Will Cardano Hop Onto The Bandwagon Led By The Bulls? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The cryptoverse is curious over a major event, which this time around is from the stable of Cardano. The curiosity is justifiable as it come from a major blockchain of the industry.

Which has been under the gloom for a better part of the last quarter, owing to its Alonzo hard fork upgrade. Which was a buy the rumor sell the news kind of an event.

Successively, sections of partisans of the protocol have been expressing concerns over a similar event, and over a possible congestion.

Prevailing from the induced traffic following the launch of SundaeSwap. However, the other half have been optimistic as IOHK reveals their scaling solutions with the Basho era. 

Will SundaeSwap Be A Boon Or A Bane For Cardano?

  SundaeSwap the DEX on Cardano is all set to go live on the 20th of January 2022, which is just a day away. SundaeSwap’s launch has stirred the business in enthusiasm.

And has fueled the price of ADA and transaction volumes significantly, which otherwise had remained dormant for a bried time. The DEX is expected to influx significant traffic to the network. However, there are concerns over the congestions in the network.

Partisans of the blockchain have been expressing concerns over the congestion in the network, which proponents believe is programmed to occur. In addition, savvies are hoping an Alonzo like aftermath to not crop up.

While congestion would hinder the network’s metric, proponents believe it to be for the short-term, as the team is up on a war-footing momentum with scaling solutions.

Successively, IOHK in a post have cited that, as the platform enters the Basho era. The focus of the team would be more towards optimization, and scalability. Which has been the aim of the era, the team has formulated “11 ways” to scale Cardano.

The ways include increasing the block size, pipelining, input endorser, memory efficiency, Plutus script, on-disk storage, node enhancements. Other ways include side-chains, Hydra, Off-chain computing, and Mithril.

In contrast, Emurgo and Cardano foundation in a collective effort have launched a project. To develop a community generated and maintained tool stack. That will support the ecosystem and accelerate the development of dApps.

Another feather to Cardano’s cap comes as Ravendex a non-custodial DEX on Cardano is in the works. When launched Ravendex will be the first AMM driven DEX on the network.

Summing up, the congestion prevailing from the influx of users of SundaeSwap, will have to be dealt with for the short-term. However, the brunt faced would be lesser, as the makers of Cardano would leave no stones un-turned.

Which is a lesson learnt from the Alonzo event. On the other hand, the joint initiative by Cardano foundation and Emurgo will be a welcoming sign for newer dApps.

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