Only 6% left until Cardano reaches maximum capacity, what to expect
[gpt3]rewrite
Recently, the Cardano blockchain ecosystem and decentralized platform has experienced an unprecedented high percentage of load pressure, which has led to raised questions and concerns from the blockchain community.
At the same time, its original token ADA’s price has struggled for months and has yet to register any significant gains and upside movements in the cryptocurrency markets.
Yesterday, a report analysis made by the co-founder of dcSpark and contributor to the Cardano blockchain clearly reflected where the blockchain platform is in terms of transaction load and what it means for users.
Cardano is currently at 94% load, only 6% left – what to expect
Sebastien Guillemot, co-founder of dcSpark and Cardano contributor, recently highlighted a concern about the ADA blockchain network ecosystem.
Related reading: Bitcoin Block 788695: The day transaction fees took the crown
In a chirping yesterday, Guillemot stated that the Cardano blockchain network is currently at 94% load, with only 6% remaining until it reaches maximum capacity.
Cardano currently has 94% load!
Only 6% left until Cardano reaches maximum capacity
What does it mean, and how can you be prepared 🧵 pic.twitter.com/1TZsIUg10N
— Sebastien Guillemot (@SebastienGllmt) 8 May 2023
According to Guillemot, if the load reaches max capacity of 100%, transactions initiated by each user on the blockchain will queue up with other users’ transactions.
No “Cardano node implements transaction prioritization,” he said, and as such each user’s transactions will be processed on a first-come, first-served basis.
Guillemot further stated that this can mean longer wait times for transactions to appear on the chain, and in extreme cases, user transactions may never make it to the blockchain. The result of this, he said, is caused by light wallet Mempools hitting the maximum capacity than it can hold.
Related reading: Ethereum gas fees skyrocket: What does it mean for investors?
Another thing users can expect when Cardano reaches 100% maximum capacity is the likelihood of staking pools selling priority access to decentralized applications (dApps) and even to some users.
Guillemot urged that when staking pools start selling priority access to selected DEXs and dApps, it would be a good time for users to consider how this move affects one DEX to another and when choosing which DEX is suitable for to utilize at all times.
The way forward to scalability
As Cardano nears maximum capacity, the dcSpark co-founder has suggested how to scale and reduce load pressure on the blockchain, after touching on what users can expect if that happens.
Guillemot had listed several ways to scale the blockchain, including increasing block sizes and migrating more decentralized applications (dApps) to Plutus V2.
He also suggested using sidechains and layer 2 blockchains to transport layer 1 and developing a data availability layer to transfer more data from layer 1 so that there is plenty of room for more blocks.
At press time, ADA is trading at $0.363, up 0.91% from its daily low.
ADA experiences a steep decline in price on the daily timeframe | Source: ADAUSD on TradingView.com
Featured image from Istock, chart from TradingView.com
[gpt3]
