I could be wrong but I think there is just no way, we are not gonna survive DeFi on Cardano... without one or combination of:
- good compression of transaction (to reduce size)
- increase of block size
- head/tail hydra L2 deployed
Thought Cardano was supposed to have scalability… but struggles with a 10k NFT drop
1/n *DISCUSSION POST* - Please tell me why Im fucking wrong here.
When it comes to large drops by established artists how are we still running into these issues? Im not a tech person but I understand and have read into it and I get there is a base level issue but beyond that.
Cardano $ADA partnering with Chainlink does not take away from the fact that @IOHK_Charles smartcontract Blockchain doesn't work.
1 transaction per block, No Dapps, and lots of design failures and zero days.
I don't blame Cardano for struggling with concurrency..
When Jagex first added banks to Runescape (Jan. 2001, btw) the bankers could only speak to one player at a time, causing quite the hassle in busy areas.
This has been an unsolvable problem for literal decades.
I just sold all my $ADA I’ve accidentally held since 2018.
Sounds like DeFi isn’t even possible on Cardano’s UTXO model?
The first dapp went live on Cardano today and ADA fanboys are finally discovering that you can't peer review your way out of fundamental issues.
Cardano does NOT have smart contracts and they wont work (1 transaction per block).
ETH can't scale and the gas fees are FORCING migration to other chains.
There is a token that's been out 14 days and is the next big layer 1 ecosystem - $MOVR
If that represents the true utilization of the network and Cardano doesn’t have meaningful SCs deployed yet, that spells trouble
Why i chose $LGCY?
✖Cardano has no smart contracts therefore they can't operate 1 transaction per block.
✖Ethereum can't scale and the exorbitant gas fees are driving users to search for more suitable options like $LGCY. t.co/KAtNTOatBZ
There seem to be some issues with Cardano smart contracts.
So we have people long into the release, and so far the first signs are trouble.
How long do you think the price holds this level? I say days are numbered. Started building a position.
Phemex.trade
1 transaction per block 😳, all Dex page is now just a landing page after 6 years. Nothing can be built on Cardano, all just about vague talking from ceo 😂
Cardano has established itself as the leading blockchain in decentralization and security, however it is embarrassingly behind in scalability. Finality time is very slow(tx irreversibility in 5-10 minutes) and throughput is lacking compared to other gen 3 blockchains.
would love to hear someone from the Cardano community dissect the situation below and discuss how long it might take to address these (apparently unforeseen?) issues, if it is even possible
it is the case, actually
we are all getting the same experience
even who is not buying NFT is having this experience
Just to clarify. Referring to minting and a highly congested network. Even a full node wallet didn't help me today.
I dont know how to prove you wrong
I dont even have technical knowledge for it
I'm just telling our experience (me and my friends)
That's the definition of working around a technology bottleneck and making compromises.
There are issues, but not all - including me - agree it is the network congestion that is the real problem. Check more information at github.com/input-output-h…
Almost 1 Million ADA Volume in the first 24 Hours! 🔥
We're out here making history thanks to you!
Love you all ❤️ #Yummi4Ever
There seems to be some misunderstanding of what happened to the #Cardano network yesterday so I'd like to provide some clarity if possible. The @YummiUniverse drop happened and went off slowly but without incident (even for the person who sent us 25k WMT).
The ultimate thread on Cardano capabilities and limitations on NFT drops. Thanks @adamKDean