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Cardano: 64% of pools ready for smart contracts as project faces criticism




By Hannah perez

The project faced attacks after Ethereum defender Anthony Sassano shared screenshots showing problems in a Cardano DEX.

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The participation pools of Cardano (ADA) are preparing for the hard fork ‘Alonzo‘, after which the functionality of smart contracts will finally be deployed on the blockchain. Meanwhile, the project faces harsh criticism for alleged structural failures within days of the testnet upgrade.

64% of pools ready

IOHK, the company behind the technological development of Cardano, announced this Monday that almost 70% of pools from stake, or participation pools, of Cardano have been updated to node 1.29.0 from Alonzo. The IOHK team reported through a tweet:

“Impressive effort as always from the Cardano stake community over the weekend to prepare for #ReadyForAlonzo. Currently, according to the statistics of our friends at PooltoolI, around 64% of the pools have been updated to node 1.29.0 of #Alonzo. Now move on! “

The announcement means that the project is reaching its objectives within the planned times. The developers of Cardano expect 80% of the groups to be ready by September 12, the date for which the hard fork event that will activate the smart contracts on the main network (mainnet)

It should be noted that, similar to the miners of Bitcoin, the participation pools of Cardano are the nodes of the network responsible for processing transactions and producing new blocks and are the core of Ouroboros, the Proof of Stake (PoS) protocol of Cardano. These groups, which can act individually or as a third party on behalf of multiple users, maintain the tokens ADA delegates, or as a guarantee (stake), to maintain network security.

Cardano faces criticism

Few days after updating Cardano In the test network, the project is facing severe criticism due to alleged structural failures.

Last Thursday, the team of Cardano announced that smart contract functionality was now available in the testnet ‘Alonzo‘. This update represents the previous step to the hard fork that will take place in six days.

However, the platform is now under attack after Anthony Sassano, one of the most prominent members of the community Ethereum, made several criticisms of the project. In a thread of Reddit, Sassano showed a series of screenshots that revealed a concurrency issue found on decentralized exchange (DEX) Minswap, based on Cardano.

The co-founder of Ethhub.io and well-known defender of Ethereum highlighted that Miswap, which went live on Saturday, faced several critical problems after its launch. “The first dapp went live today at Cardano and ADA fanboys are finally discovering that you can’t do a peer review to fix fundamental issues.He wrote in a tweet.

According to one of the screenshots posted by Sassano, a user encountered a transaction error while trying to exchange tokens. Meanwhile, some community members were concerned that decentralized exchanges would only handle one transaction per block, rendering them inefficient.

Hoskinson responds to attacks

The popularity of Sassano’s comments on social media, who was quite severe and even wished him a peaceful death (RIP) to Cardano, led many users to believe that the blockchain of Cardano It was broken and that the smart contracts that are currently in the testing phase just don’t work.

The founder of Cardano, Charles Hoskinson, did not remain silent in the face of the attacks and described the recent accusations as “noise” and “FUD. During a live broadcast on Saturday, the mathematician and CEO of IOHK allayed concerns and explained that “Smart contract scaling will require off-chain processing solutions from the likes of Hydra“.

You can’t build these systems to scale to billions of transactions per second on a single system. You have to divide and conquer, you have to do batches, you have to preprocess, you have to move things to different domains.

In a thread of tweets, the IOHK team also addressed the rumors, providing an explanation of what happened and how the issue is being addressed. On the other hand, some DEX based on Cardano They also came out to defend the platform, stating that it was possible to carry out hundreds of transactions per block.


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Sources: U.Today, U.Today, CryptoPotato, Twitter,

Hannah Estefanía Pérez’s version / DailyBitcoin

Image from Unsplash







TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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