Cardano Chain Can Move Assets to 1,600 Users for Just $2.38 in Fees, Analysis Reveals
The post Cardano Chain Can Move Assets to 1,600 Users for Just $2.38 in Fees, Analysis Reveals appeared on BitcoinEthereumNews.com.
The transaction capabilities of the Cardano (ADA) network have once again sparked debate within its community. Jaromir Tesar, a prominent Cardano supporter, recently highlighted that the network can facilitate asset transfers to a significant number of users within a single block. Specifically, Tesar noted that one Cardano block can transfer assets to up to 1,600 users for a remarkably low cost of just 5.16 ADA, which is approximately $2.38. This claim surprised many, prompting a variety of reactions among Cardano enthusiasts. #Cardano can transfer assets to 1,600 users within a single block, all for a fee of just 5.16 $ADA. https://t.co/nwtfYzsGJI — Cardano YOD₳ (@JaromirTesar) September 25, 2024 Notably, the observation was initially made by Dedium—a decentralized GPU computing network on Cardano—and has elicited mixed responses from the community. Some members see this capability as beneficial for institutional transfers, while others express skepticism, drawing parallels to Ethereum’s ecosystem. Reactions and Comparisons One commenter cited previous statements from Sebastien Guillemot, co-founder of Paima Studios, regarding transaction efficiency on Ethereum Layer 2 solutions. It revealed that 186 swaps could occur in a single transaction with a fee of just $0.19. He pointed out that this efficiency leverages the security of the Ethereum mainnet without requiring additional tokens for fees. Notably, in the post, Guillemot contrasted Ethereum layer-2’s transaction efficiency with that of Cardano, indicating that Cardano’s fees in USD were typically higher. He suggested that implementing scaling solutions, such as Cardano Layer 2, could substantially lower these fees. Meanwhile, other members of the Cardano community believe that the network’s metrics should not be compared with competitors, emphasizing the distinct nature of Cardano’s infrastructure. Some are anticipating that upcoming updates, including the implementation of zero-knowledge proofs after the Chang hard fork, will significantly increase the network’s transactions per second (TPS). Blockchain Interoperability Breakthrough In…
Filed under: News - @ September 26, 2024 10:28 am