CDS Crypto News Charles Hoskinson Claims Cardano Can Scale Better Than Solana Amid Traffic Surge
Crypto News

Charles Hoskinson Claims Cardano Can Scale Better Than Solana Amid Traffic Surge

99
Charles Hoskinson Claims Cardano Can Scale Better Than Solana Amid Traffic Surge

Charles Hoskinson Responds to Solana’s Strain, Claims Cardano Could Do Better

Charles Hoskinson, the founder of Cardano, recently suggested that his blockchain network could manage higher transaction volumes than Solana, without incurring additional costs for app developers. This statement comes in the wake of significant traffic surges on the Solana network, driven by the surprise launches of meme coins associated with President-elect Donald Trump and the incoming First Lady Melania Trump.

Solana’s Strain Under Increased Traffic

Over the past few days, the Solana network has faced significant stress, as meme coin launches by the Trump family have caused a surge in network traffic. While this has positively impacted the price of SOL, the native token of Solana, it has also revealed several infrastructural issues. Network congestion has led to transaction delays, frustrating users trying to purchase the newly launched Trump-inspired meme coins.

The difficulties on the Solana network have prompted several reactions, particularly from Charles Hoskinson, the founder of the competing Cardano blockchain. Hoskinson has claimed that Cardano would be able to handle similar traffic surges more effectively without adding any additional costs for developers or users.

Cardano’s Potential for Scalability

Hoskinson referred to Leios and Hydra, two of Cardano’s scaling solutions that are designed to address such issues. According to Hoskinson, these technologies were developed specifically to handle surges in transaction volume without disrupting the network or increasing costs for DApp developers.

Leios is an upgrade to Cardano’s consensus mechanism that aims to improve network throughput by separating transaction processing from consensus. Hoskinson has previously stated that Leios could make Cardano faster than Solana by September 2024.

Hydra, another scaling protocol developed by Cardano, facilitates parallel transaction processing and can be integrated with DApps and Layer 2 chains to improve overall scalability.

Current Issues with Solana’s Infrastructure

Despite Hoskinson’s confidence in Cardano’s scalability solutions, he responded to comments from Coinbase CEO Brian Armstrong, who noted that the exchange was working to upgrade Solana’s infrastructure to cope with the surge in demand. Users have been complaining about transaction delays on Solana, and Polygon Labs CEO Marc Boiron echoed similar concerns regarding failed transactions while attempting to purchase the Melania Trump meme coin.

While Cardano may offer a potential solution to these issues, it’s important to note that Leios and Hydra are still in development, with no clear timeline for their full-scale deployment. Leios is currently in the hands of a prototype team, and while Hydra has been successfully tested in a gaming competition, it is still a work in progress for DApps and Layer 2 chains.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.

Charles Hoskinson Claims Cardano Can Scale Better Than Solana Amid Traffic Surge
Written by
sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

Leave a comment

Leave a Reply

Related Articles

Bitcoin Price Could Tumble to $71K Amid Rising US Trade Tariffs

Bitcoin faces high risk from US trade tariffs, potentially dropping to $71K...

OKX Hires Ex-Governor Andrew Cuomo Amid $505 Million Legal Settlement

OKX hires former NY Governor Andrew Cuomo to advise on legal issues...

XRP Price Surge: Analysts Predict $3.5 and Beyond by 2025

Analysts predict a bullish reversal for XRP, forecasting a potential price surge...

South Korea Crypto Market: Could Foreign Investors Soon Gain Access?

South Korea is considering allowing foreign investors to access its cryptocurrency market,...

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.