Big issue with smart contracts rollout. Potential disaster is imminent. It might get sorted but I suspect sub 2$ and maybe worse is coming. I am a huge fan of CH and Cardano's vision, but I am considering selling right now
It's really not an issue at all, it's something that people who already hate Cardano have just completely lost their marbles over online purely to attack the project. The "rumblings" are basically the equivalent of a single poorly coded PC game downloaded from Steam crashing and then all of the Epic Store community claiming that Steam is completely broken & unusable for gaming forever!
A developer (Minswap) ran into an issue with their DEX design on the public testnet where they couldn't handle multiple tx's at the same time, even though they had failed to heed the concurrency information they were given six months ago regarding UTXO design. Cardano doesn't use the same accounts model as ETH so devs need to think a bit differently about how they design things like DEX's, if you simply try to build a copy of Uniswap from the accounts model world you will run into issues. You can't just port Uniswap from the accounts world over to the UTXO world without making major changes that factor in UTXO. None of the other devs are having the same issue cause they all factored UTXO into their designs. There are a bunch of devs building competing DEX's and all of those have been able to get their designs working fine like ErgoDEX, Sundaeswap, etc except for this one dev so ETH Maxi's in particular went on a misguided crusade declaring that smart contracts were permanently unusable for defi on Cardano. Practically every one of the loudest voices online have a list as long as your arm of posts hating on Cardano or Hoskinson going back years, any chance they get they will attack. This is a known aspect of UTXO design flagged six months ago that has multiple solutions already developed. Essentially what happened was that this one dev couldn't figure out a workable design themselves in time but still proceeded onto the testnet as is. They were always going to have this problem:
I absolutely love panic seller's! I've made about 2 grand since Wednesday from them!
$5 soon.
I am not talking about the concurrency issue. I haven't sold anything, still staking. Just concerned about facing issues tomorrow and there being a lean month or two ahead
And we're live!!!
been a long time since anyone posted here, but since this is Cardano specific, i might as well
got my $ada handle minted today from here:
https://adahandle.com/
didn't get my first preference, some fecker got it minted 39 minutes before me, but hey-ho. good idea that makes for super simple ADA transactions in real life
How much did you pay?
Mine was 7+ characters, so it was a pretty reasonable 10 ADA. The next level up (5-7 characters I think) was 50 ADA, and shorter than that were a good bit more expensive than that again
bottom at 1.20 $ and 0.00002500 BTC. up now
Sundaeswap audit completed today. Launching VERY soon
There's no other token that gets slagged and memed quite as frequently as $ADA except maybe $XRP. Definitely not something I'd want to hold in 2022.
There’s still some who take the piss out of Bitcoin (and crypto in general), don’t respect it as a currency at all. Don’t think the Bitcoin holders are too worried about them though…
Cardano hasn’t got going at all yet, the dApps and general ecosystem are only beginning to come online now. 2022 is going to be very interesting in the ADA space, and I’ll certainly be paying a lot of attention to it
I heard the same when ADA was for few cents and 400-500 sats.
Good it didn't bother me.
It's the one I'm stock piling anyway.
I layered out during the last pump. Still keeping a bit. Just poor preforming for the year. Though for stability it’s very solid, no hacks yet. Not many in the top ten can say that.
came across this today:
if i have it right, it's a system to encourage users to stake with community pools (as opposed to exchanges, etc.). new projects partner with them, and for staking with community pools, you can claim tokens from these projects (based on how much you've staked). each withdrawal costs a couple of ADA, and you can withdraw after every EPOCH. not sure how great it is, but it's basically free tokens on top of the staking rewards your already getting...
i'm hoping to mostly cash out my positions in Q1 and Q2 of this year, then load up on ADA when the bear market comes. time will tell if it works out for me or not 🤞
NGMI
It won't
40% gains to BTC last month. Not too bad ;-).
Network is really struggling (at times, but fees are still pennies👍️) last few days, gonna be mental once Sundae goes live. I'm waiting almost 30 mins for a transaction to go through on museliswap now.
Scaling/Hydra can't come soon enough...
just to follow up on this, it was actually my mistake. i had an order set on museliswap for a token that isn't for sale yet, hence the transaction could never go through. still getting the hang of this DEX stuff 😁
What would it take for you holders to accept its a shitcoin?
Hours to days to process a transaction on a DEX.
If you are in profit get out ahead while you can, if you are at a loss, get out before it grows bigger.
Going to be generational bag holders from ADA, pass it on down to your grandchildren, " Trust Charles, we are only a few more peer reviews away from making it"
In loving memory of our beloved ghost chain
I cannot fathom how it has the same market cap at the moment as Solana. It does not make sense. I was a long term ADA bull but sold upon looking into their competition. Like in comparison to ADA, SOL is faster, cheaper, more scalable, more adopted than ADA. Plus there seems much more development on SOL too. Not trying to be a moonboy on SOL, but just seems way superior.
Well the sundaeswap dex launch was a disaster, who'da thunk it.
What happened?
the network got massively congested. this was expected and communicated by lots of sources (including SundaeSwap themselves). once the hype settles down about Sundae, it will get better, and it will also focus the Cardano techs minds even more on the need for the scaling solutions expected later this year.
so basically it was busy to the point of being unusable, as expected. not a good look from the outside, but users familiar with Cardano knew it was coming
“We see that a single Hydra head achieves up to roughly 1,000 TPS, so by running 1,000 heads in parallel (for example, one for each stake pool of the Shelley release), we should achieve a million TPS.“
So is ADA going to become the fastest crypto after this update?
Ha..... emmmm nope it isn't
