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Is Cardano On The Verge Of Meeting The Fate Of The Alonzo Hard Fork Upgrade? Traders Alert!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Jan 20, 2022

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Highlights

    The cryptosphere remains skeptical over the performance of SundaeSwap, as the space foresees congestion.

    Pavia suits up as the first metaverse on Cardano’s network.

The world of cryptocurrencies is in a dilemma, as the industry’s top-tier protocol comes across a major event. Which arguably is a make-it-or-break-it event for the sixth-largest crypto of the business. The assumptions of the market have persuaded anxiety amongst partisans of the blockchain. The fuss in the industry has been surfacing, as SundaeSwap nears its launch time frame.

SundaeSwap, going live has been the focal point of discussion in the fraternity in recent times. Which has managed to propel ADA price to an appreciable rate. However, the makers and proponents are contemplating evident congestion on the network. Which has been a growing concern in the already troubled ecosystem. However, a relief to the ails comes as Pavia suits up as the first metaverse on Cardano.

Is Cardano On The Brink Of Another Mishap?

Cardano’s DEX SundaeSwap is all set for its launch today, i.e on the 20th of January 2022. And has probably gone live by the time you are reading this news. With the launch, Yield farming rewards will also commence and will be available for at least the first 6-months. The creation of liquidity pools has already begun on SundaeSwap, and projects have been praising the UI of the platform.

However, what has been haunting the users is the network coasting towards congestion. Which is expected by proponents, as well as the makers. While the makers of the blockchain have been alleviating the situation by assuring the scaling updates in the pipeline. Critics have been expressing concerns over the time frame of launches and the short-term congestion.

Critics believe the upgrades would do little, as the current increase in the block size is relatively smaller in comparison with Ethereum. (72kb to 80kb of Ethereum). However, an exponential increase in block size goes out of cards. Moreover, geeks find the transaction sizes to be bloated, even without smart contracts. In addition, bigger UTXOs aggravate the situation.

That said, Cardano’s real-world throughput for SundaeSwap smart contracts would be slower than what the competition demands. And the increasing gas fees, which although has reduced since the Alonzo hard fork, needs resolutions. Traders and investors should go wiser considering the risks involved. 

Also Read: Big Day For Cardano ! What Can ADA HODLERS Expect On January 20th

Will Cardano’s First Metaverse Be The Relief From The Ails?

Play-to-Earn and NFT project Pavia is now the first metaverse on Cardano. The project claims to have over 8300 landowners. The first land sale with 29000 parcels is said to be sold out, so is the second sale with 31000 parcels. The firm aims to achieve the final land sales by 2022, which completes the map of 100,000 land parcels.

In addition, the project has its roadmap set and is going in accordance with the blueprint. For the first quarter of 2022, the project will be adhering to liquidity addition to Cardano, DEX’s, and exploration of cross-chain liquidity, alongside gamification and more. 

Summing up, while the launch of the DEX is a major event for Cardano, the outcome might be a rough sale for the short term. Until the shortcomings are rectified with necessary upgrades and developments.  It would be wiser for users to not rush into the herd. On the other hand, the foray into the metaverse is a positive sign for the sixth largest crypto.

Also Read: Will This Event Send Cardano To The Bears Again? Or Will Cardano Hop Onto The Bandwagon Led By The Bulls?

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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