According to U.Today, Charles Hoskinson, the founder of Cardano, a leading proof-of-stake blockchain network, has expressed optimism about the network's future. His positive outlook came in response to statistical data highlighting the performance of SundaeSwap V3, the third version of the popular AMM-based DEX, which went live on the Cardano mainnet last month.
The latest version of SundaeSwap offers a more efficient pricing model and has a larger capability, with the ability to process 35 transactions per second. Theoretically, this means it could process up to 907,200 orders in a single day. Over the past 24 hours, SundaeSwap V3 has processed approximately 9,264 orders, according to Pi Lanningham, the chief technology officer of Sundae Labs. Most of these orders were executed in less than a minute.
Previously, Cardano had issues with network congestion, but SundaeSwap V3 is designed to address this problem with a higher transaction throughput. This could potentially lead to a higher total value locked (TVL) on the blockchain network. Currently, Cardano ranks 29th in terms of TVL, according to DefiLlama, trailing behind projects such as Scroll and Gnosis. The five biggest names on Cardano are Minswap, Lindogo, Liquid, Astarter, and SundaeSwap.
