The creator of IOG and the team behind the Cardano blockchain, billionaire and mathematician Charles Hoskinson, has responded to the mounting worries that Cardano blocks are too crowded and cannot accommodate more data in a post.
He claimed that for many years, detractors had been saying that Cardano was just a “ghostchain” with “no use and utility,” therefore he witnessed a significant shift in these worries. Cardano seems to have suddenly gotten “too busy.”
Hoskinson dispels new Cardano allegations
Indeed, Hoskinson has refuted claims made over the years that Cardano is a “ghostchain” with no practical use. For example, in October 2022, he used Twitter to refute these rumours. Ethereum maximalists were the ones who started the “ghostchain” myth.
Retaliating against them, Hoskinson tweeted that up to 25% of all blockchain transactions in 2022 were completed by Cardano, setting a new record in terms of transaction volume. That milestone was made possible by the introduction of many decentralised applications on Cardano as well as a shift in the way transactions were handled.
https://x.com/IOHK_Charles/status/1736793224163848493?s=20
Specifically, the introduction of SundaeSwap, Minswap, and other NFT markets contributed to Cardano seeing a massive spike in transaction volume, which greatly increased network demand. In actuality, Hoskinson informed Cardano detractors that the network was built to withstand large volumes of traffic and a high load overall.
Here’s what caused Cardano “full-block” rumors
Furthermore, a “huge design space to optimise the network and DApps for more scale both in the short term and long term” exists, according to Hoskinson. Hoskinson went so far as to include a link to his most recent live video on YouTube, in which he discusses the enhancements that Cardano has made, including Mithril and Hydra. They all significantly enhanced the Cardano chain in various ways.
Since ADA must “insert” several entities in a single block before redistributing funds among them, Cardano’s accounting model for handling employs eUTxO, which de facto allows numerous transfers per each Cardano block conceivable. However, certain blockchain tracking services are unable to view the true amount of transactions made on Cardano due to this method. This is possibly the source of the rumours that the founder of Cardano mentioned before.
