According to Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record throughput for nearly two weeks thanks to the launch of the decentralized exchange, or DEX, SundaeSwap; the first of its kind to launch on Cardano. At the same time, the total value locked on the ADA blockchain reached an all-time high of approximately $80 million despite the token’s recent drop in price due to the ongoing market decline.
The current average blockchain network usage is hovering at 93.19%, which means that 93.19% of its blocks are filled. In context, the figure was only 32.49% on New Year’s Eve. The number of ADA wallets is also on the verge of breaking the 3 million mark.
Many ADA enthusiasts have taken to social media to celebrate important events. However, the phenomenon of the network approaching full capacity due to the addition of just one DEX has raised questions about its usefulness, although scaling solutions are coming soon. Reddit user Additional_Till_838 noted:
“I don’t like it because it paints a picture of the Cardano blockchain being overwhelmed and struggling to keep up with the load. This may scare investors away from Cardano and make them think that it is an unreliable blockchain network.”
Not everything went smoothly during the launch of SundaeSwap. Soon, user reports of failed transactions began to circulate widely on social media. At the time of publication, users are still claiming that their DEX orders remain pending despite having submitted them a few days ago. More importantly, the platform is locked in a highly publicized commercial dispute regarding allegations of investor failure with the Cardano CardStarter acceleration program. Even Charles Hoskinson joined in the rout, telling both parties to “come together!” and settle their differences through arbitration or litigation.
We just released an update to our order page so you can now see the approximate pool queue depth! Just click to expand the order for more information. This update should provide more information about the current state of the overload.⌛️ 1/2 — SundaeSwap Labs (@SundaeSwap) January 26, 2022