The Cardano (ADA/USD) blockchain has recorded an increase in activity over the past two weeks. This follows the launch of the Sundaeswap decentralized exchange (DEX) on the blockchain.
Sundaeswap is the first DEX on Cardano since the latter introduced smart contracts in September. While activity on Cardano has spiked significantly, users have remained unimpressed.
Cardano blockchain activity spikes
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The total value locked (TVL) on the Cardano blockchain recently hit a high of around $80 million despite the recession across the broader market. At the time of writing, the TVL stood at $71.67, according to DeFi Llama.
The average blockchain load on the network also shows that 93.19% of Cardano’s blocks are being filled. This is a notable growth, given that the figure stood at 32.49% on December 31. The number of ADA wallets is also slightly below 3 million.
This is a major milestone for the Cardano blockchain, which comes around five months since smart contracts went live.
Some users are unimpressed
While most of the ADA community applauded the blockchain’s success, some users did not celebrate it. The data shows that Cardano is almost at full capacity, with only a single DEX running on the blockchain.
Cardano has stated that it will be launching scaling solutions soon, but this is not stopping some users from raising questions. A Reddit user by the name Additional_Till_838 noted that the failure of Cardano to keep up would deter away investors.
“I dislike this because it paints a picture of Cardano’s 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.”
The launch of Sundaeswap was marked with a myriad of issues. Barely five minutes after launching, users started complaining of failed transactions. Some users are still complaining that their orders on the DEX have not yet been processed, almost a week after the launch.
Sundaeswap is also engaged in a dispute with CardStarter, with the two platforms blaming each other for investor fallout. The dispute that has been publicized on social media has even attracted the attention of Cardano’s founder, Charles Hoskinson, who asked the two parties to use arbitration or go to court to settle the matter.
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