Cardano’s SundaeSwap V3 Boosts Network Performance and Capacity

Cardano, a leading proof-of-stake blockchain, is showing signs of significant growth, according to its founder Charles Hoskinson.

“So much amazing tech is coming over the next few years,” Hoskinson shared on X, responding to new data about SundaeSwap V3’s performance.

The third version of SundaeSwap, a popular decentralized exchange (DEX), launched on Cardano’s mainnet last month, offering a more efficient pricing model and increased capacity with 35 transactions per second. Theoretically, this upgrade allows for processing up to 907,200 orders daily.

SundaeSwap V3 has already processed about 9,264 orders in the past 24 hours, most of which were completed in under a minute, according to Pi Lanningham, the CTO of Sundae Labs.

Previously, Cardano struggled with network congestion, but SundaeSwap V3 aims to address this issue, potentially boosting the network’s TVL.

Currently, Cardano ranks 29th by TVL, behind projects like Scroll and Gnosis. The top five platforms on Cardano are Minswap, Lindogo, Liquid, Astarter, and SundaeSwap.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.