According to Sebastian Guillemot, co-founder of dcSpark and a contributor to the Cardano platform, as of May 8th, 2023, Cardano’s load has reached 94%. When it reaches 100%, transactions may take longer to process. The executive also mentioned potential improvements that could be implemented on the chain.
Like many other cryptocurrencies, Cardano (ADA) experienced a decline over the weekend of May 6-7. However, Sebastian Guillemot, co-founder of dcSpark and a contributor to the Cardano platform, reported that Cardano’s load was at 94% on May 8th, 2023. This raises questions about what implications this may have for Cardano and ADA in the coming days. Let’s delve deeper and find out.
According to the Cardano contributor, transactions on the network are processed based on their chronological order. Nevertheless, when the network reaches a load of 100%, transactions would be queued, and users might experience a delay in processing their transactions. Furthermore, as the load increases beyond 100%, the waiting time for transactions could increase significantly.
Another potential outcome of reaching the maximum load would be that stake pools could sell priority access to users and dApps, and they might be able to prioritize one DEX over another.
The executive expressed a positive stance when discussing whether the current state of the blockchain was an improvement from 2021. Additionally, they suggested the possibility of increasing block sizes and implementing tiered fees.
Cardano is a decentralized, open-source public blockchain platform that utilizes a proof-of-stake consensus mechanism. It was founded in 2015 by Charles Hoskinson, a co-founder of Ethereum. Transactions can be carried out on the network using its native cryptocurrency, ADA, allowing for peer-to-peer transactions.
ADA price drop by 6.05% in the last 7 days.
At the time of writing, here is the data from Coinmarketcap
|Circulating supply||34,837,199,875.3 ADA|