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Cardano (ADA) creator Charles Hoskinson is revealing that decentralized exchanges are just weeks away from arriving on the sixth-largest blockchain by market cap.
Hoskinson says in a tweet that he’s “really proud” of the team behind SundaeSwap, a decentralized trading protocol on Cardano, which will launch its testnet on December 5th. The purpose of a testnet is to identify bugs, if any, as well as potential bottlenecks and inefficiencies prior to the mainnet launch.
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
According to the Cardano creator and the CEO of Cardano-focused development firm Input Output Hong Kong (IOHK), decentralized exchanges (DEXes) could arrive on the sixth-largest blockchain by market cap during or just before the Christmas holiday.
“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.”
The expected unveiling of the SundaeSwap decentralized exchange is coming weeks after Cardano entered the smart contract era following the successful Alonzo hard fork.
In a statement, SundaeSwap says it will “provide a detailed roadmap towards launch” but does not specify a date.
SundaeSwap’s announcement is coming days after IOHK upgraded the Cardano network after recording a surge in usage. The number of transactions per day had shot to 200,000 in November of 2021 from 10,000 a year earlier, according to IOHK.
The latest upgrade by IOHK will see the block size on Cardano increased by 12.5% in order to raise the number of transactions that can be processed in a second.
ADA is trading at $1.71 at the time of writing.