Cardano (ADA) creator Charles Hoskinson announced that decentralized exchanges on its blockchain are just weeks away
In a tweet on Wednesday, Hoskinson said to be “really proud” of the team behind SundaeSwap, a decentralized trading protocol on Cardano, which will launch its testnet on Sunday, December 5th in preparation of the mainnet launch later this month.
According to the Cardano founder and CEO of Cardano-focused development firm Input Output Hong Kong (IOHK), decentralized exchanges (DEXes) on the Cardano blockchain could become reality during or just before the Christmas holidays.
Really proud of this team for all their hard work and getting things done so quickly. I don’t imagine they’ll be on the testnet for long. With any luck, looks like Dexes are coming just in time for/around Christmas https://t.co/JYtih6YRHM
— Charles Hoskinson (@IOHK_Charles) December 1, 2021
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The announcement of the SundaeSwap decentralized exchange comes shortly after Cardano’s Alonzo hard fork upgrade, which brought smart contract to the network.
In a statement, SundaeSwap said it will “provide a detailed roadmap towards launch” however it did not give an exact date.
IOHK recently upgraded the Cardano network after recording a huge spike in usage. Total daily transactions had shot to 200,000 in November of 2021 from 10,000 a year earlier, according to the firm.
The latest upgrade by IOHK will increase Cardano’s block which will allow a larger number of transactions to be processed in a second.
At time of writing, ADA is changing hands at $1.34, experiencing 20% losses over the past 24 hours following today’s crash on crypto markets.
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Source: Igaming
