September 7 should have been a day of celebration for the Minswap decentralized exchange. Instead, the DEX was forced to shut down its testnet due to concurrency issues. However, following the same, the project promised to share a solution.
Two days after the highly anticipated Alonzo hardfork introduced smart contracts on Cardano, Minswap now has inserted Laminar – A batch processing protocol design and eUTxO escalation protocol with indefinite scaling within transaction boundaries.
Batches and slices
In a statement released after the testnet’s failure, the Minswap team had apologized to its users. He admitted that he knew about Cardano’s concurrency issues for more than six months and said,
“It is a problem that every competent team and development lab creating DeFi protocols in Cardano must overcome. It is not a fundamental flaw, but simply a design challenge that needs to be addressed. “
Laminar addresses the concurrency problem by using batch. In this case, all user interactions with the UTxO smart contract occur in one transaction, so all of them can be concluded successfully.
1 / Laminar can scale indefinitely as transaction limit allows, without any parameter updates.
2 / Laminar is upgradeable and composable without liquidity migration or hard fork.
3 / Laminar is functional in Layer-1 eUTxO chains.
– Minswap | FISO live! 🚀 (@MinswapDEX) September 13, 2021
According to the Minswap team, an interaction with a smart contract is expected to take about 40 seconds or two blocks to complete. Since the slices (or sheets) are separate and Laminar is a batch processing layer, users should be able to upgrade systems without migrating their liquidity.
Upon Laminar’s launch, the Minswap team also claimed the incentivized testnet would be restarted in late September or early October. To speed up the process, plans to use a short-term off-chain sequencing solution.
The Minswap team used Laminar to propose their batch mining solution, where the transaction fee for a batch would be divided among all participants in the batch. To attract more users initially, Minswap was considering governance tokens for the first dosers, until the batch request fees are sufficient.
As a bonus, the Minswap team also explained how it optimized the DEX contracts to drop below Alonzo’s 10 million unit memory limit.
“We believe that batch mining will not only help decentralize DEX batching, but it will also decentralize the entire Cardano network as a whole.”
On the cards for Cardano
Still, it may not be the time to celebrate yet. The Cardano community Twitter account warned scammers on the rise. Jeremy Firster, an officer of the Cardano Foundation, also advised caution after hard fork.
Stay tuned https://t.co/26LRT7tolR
– Jeremy Firster (@JeremyFirsterCF) September 12, 2021
While decentralization is key for most Cardano users, Hoskinson wants powerful players online. For this reason, many will be looking at both Cardano’s DEX ecosystem and its partnerships with analytics firms.
This is a machine translation of our English version.