'This Cardano-based DEX Aims to Address Scalability Issues Faced by Ethereum Dapps'cc: decentralizedinternet quicknode
in smart contract execution costs and enables a more powerful parallelization of transactions.
There are protocols that are working on tackling these issues faced by protocols on the Ethereum network, one of which isa Cardano-based decentralized exchange. The platform works as a decentralized exchange and automated market maker , and they worked with theto provide stablecoins USDC and USDT to the Cardano mainnet ecosystem. The platform also reached a total value locked of 62.5m ADA after launching its mainnet.
When it comes to the Ethereum network, one example of its scalability problem was the blockchain game CryptoKitties. CryptoKitties is an Ethereum-based blockchain game that was released in 2017. The game allows players to buy, collect, breed, and trade virtual cats. The game became very popular and users buying and selling kittens on the network caused the Ethereum network toThe large number of transactions was a problem since Ethereum is only capable of processing aroundin its present form.
Another reason is that the Ethereum platform utilizes the same blockchain for all dapps. Due to the massive volume of network transactions generated by CryptoKitties, the Ethereum platform's other dapps got clogged and delayed as well. As a consequence of this, a greater quantity of ETH was needed to be used whenever a transaction or contract was executed on the network.
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