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Charles Hoskinson Celebrates Cardano's Growth as Sundae V3 Achieves Record Transactions

Charles Hoskinson announces Cardano's growth as Sundae V3 hits transaction records.

Mon, 24 Jun 2024, 09:40 am UTC

Charles Hoskinson, founder of Cardano, highlighted the protocol's resurgence as Sundae V3 processed 9,264 orders in 24 hours, marking a significant milestone for the blockchain's flagship DApp.

Cardano's Sundae V3 Processes Record Orders, Signaling a Revitalized Ecosystem Ahead of Major Upgrades

Charles Hoskinson, the founder of Cardano, decided to draw the attention of the broader crypto community to the fact that Sundae v3 was abruptly registering high figures, stating that the protocol was "awakening."

According to reports (via CoinGape), Sundae v3, a prominent Decentralized Exchange (DEX) based on Cardano, has processed as many as 9,264 orders within a 24-hour.

According to Pi Lanningham, the CTO of Sundae Labs, about 900 of the processed orders were submitted and executed in the same block. Similarly, 50% of the orders were implemented within 30 seconds, 70% were executed within one minute, and 90% were executed within 221 seconds.

This enhanced efficacy on Sundae v3 represents a significant milestone for Cardano as the blockchain for the DApp. The Cardano ecosystem has experienced numerous events and enhancements in the past few months, which suggest that the crypto ecosystem is repositioning and reviving.

Two weeks ago, Hoskinson indicated the eagerly anticipated Chang Hard Fork upgrade, which will be implemented in June.

Additionally, he disclosed that Cardano Node will shortly achieve version 9.0, a significant milestone that indicates that Cardano is prepared for the Chang Hard Fork. This statement also implies that the update is anticipated to be released in June. The Cardano community eagerly anticipates the month's conclusion, which is only one week away.

Cardano Advances Decentralized Governance with dReps and Multi-Staking Ahead of Chang Hard Fork

Cardano is transitioning to decentralized governance to enhance community input as it prepares for the Chang Hard Fork upgrade. The founder of Cardano explained the proposed blockchain governance system, which will involve the deployment of Decentralized Representatives (dReps). Even without a comprehensive constitution, these dReps will substantially alter the control of the treasury.

Cardano recently launched a game-changing feature in its Light Wallet Lace: multi-staking or multi-delegation. This feature significantly benefits users, eliminating the need for fund partitioning across multiple accounts. Instead, users can now delegate ADA, the native token of the blockchain, to multiple stake pools, simplifying their investment strategy.

In the final analysis, this feature is designed to satisfy users prioritizing investment security.

Hoskinson observed that the frequency of these enhancements, which includes the rise in Sundae v3 orders, indicates that Cardano is waking up. In the interim, ADA has experienced a 0.04% increase in value over the past 24 hours and is currently trading at $0.3861.

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