Charles Hoskinson of Cardano Highlights Open-Source Software and Security in Response to Ledger Controversy
Cardano is one of the popular smart contract networks reputed for high transaction speeds and scalability.
The founder of Cardano, Charles Hoskinson, had claimed the network’s transaction speed to be quite outstanding and that Ethereum lags behind it despite the Merge.
However, the network is recently battling with issues, creating a loop to lose out to its competitors.
Some issues have impacted Cardano's novel record of completing one million transactions per second (TPS).
Network users have been facing delays in token swaps on some Cardano-based decentralized exchanges (DEXes).
According to data from Cardanoscan, swaps can now take up to 30 minutes to complete.
The recent delays in swaps on Cardano have put a dent in the integrity of the network while giving its competitors an edge.
According to a user, they might migrate to competitors such as Polygon, Solana, etc.
Another user wondered if the issue was due to too much load or too little slippage.
Besides the speed, Cardano was touted as a network that has solved the blockchain trilemma.
The network boasts robustness that covers the areas of security, scalability, and decentralization.
But the recent delays have exposed the contrast between Cardano’s theoretical capacities and its practical operations.
Following the Cardano network challenges, most users seek a better platform for speedy transactions.
Some migrated to MuesliSwap, a decentralized exchange on the Cardano network.
MuesliSwap is known to provide higher transaction speeds with increased efficiency and more user-friendly services.
However, the delays also caught up with MuesliSwap due to the increasing migration of users to the DEX.
It's worth noting that the problems aren’t linked to any particular exchange
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