Amid much community fervor, Cardano’s Alonzo testnet hard fork finally occurred In the past week. The main anticipation was behind the inclusion of Plutus smart contracts in the network, which would allow it to greatly expand its functionalities. The enthusiasm of the community was clearly reflected in the bull run that Cardano’s native token ADA has been in as it established new ATHs throughout the month.
However, after testing it, users claimed that Alonzo was not all that it was supposed to be. Since the first dApp, multi-pool DEX Minswap, was launched on Cardano’s public testnet, many have complained of errors trying to exchange tokens and provide liquidity. Errors related to concurrency were also addressed by Minswap on Twitter.
You may be seeing an error message saying “UTxOs are being used in this block” a lot. That is the problem of competition. We are working on that.
– Minswap | Live incentivized testnet! 🚀 (@MinswapDEX) September 3, 2021
While Cardano is no stranger to trolling and online criticism, Minswap’s difficulties in handling multiple users became the most commonly cited excuse for its enemies. Many have claimed that Cardano’s decision to use the unspent transaction output (eUTxO) accounting model was the reason behind this failure. In addition, that future DEX that you are looking to build on the network will face similar liquidity problems.
Hate to be dramatic, but public UX testnet on @MinswapDEX it has been horrible. The UTXO model is simply unusable in #defi systems due to #concurrencyissue. Could someone provide some clarification on how and when this will be resolved?
– binbal (@ binbal24) September 4, 2021
Concurrency issues often result in preventing multiple users from interacting with the protocol at the same time. This is likely due to the absence of a “Cardano virtual machine”, similar to the one Ethereum implements, as it allows the smart contract operation to run simultaneously. Others have claimed that since Minswap could only handle one transaction per block, it was usable.
Ethereum supporter Anthony Sassano highlighted these issues in a Twitter thread recently.
The first dapp launched today on Cardano and ADA fanboys are finally discovering that it cannot be peer reviewed to solve fundamental problems. pic.twitter.com/tYQXNcVKGN
– Anthony Sassano 🦇🔊 (@ sassal0x) September 4, 2021
However, many supporters have responded to the harsh criticism, including Cardano founder Charles Hoskinson, who called these comments “noise and FUD.” In a recent video address these issues, he said,
“The problem with our industry is that it basically says that if you don’t support mine or I don’t see a way to make it work, what you’ve built is absolutely useless, useless forever, and it’s just a toy. And then they use vanity metrics, not even understanding what they’re saying. “
Additionally, Cardano-based decentralized exchange SundaeSwap Labs dispelled some common misconceptions on the subject in a recent blog post. According to the DEX, hundreds of transactions per block were possible and that centralization was one of the ways to solve the problem. He also added that this obstacle does not spell the death of Cardano, stating,
“So for people who claim this is Cardano’s death: unlikely. To point out a rocky experiment in the early days of an ecosystem and hold it up as the fatal omen of Cardano’s downfall is premature naivety at best and intellectual dishonesty at worst. “
Furthermore, the Cardano Input Output HK development team also posted a Twitter thread clear up many of users’ concerns and “misinformation”. First, the company pointed out that the eUTxO model was chosen because “it offers greater security, allows predictability of rates and offers more powerful parallelization.”
IOHK also suggested how users could still build dApps on the network and extend block limits, which is “by designing your service or application with multiple UTxOs, you can enforce more parallelism.” The company will publish a blog post later this week to explain these functionalities in detail.
This is a machine translation of our English version.
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