Cardax to Solve Concurrency Problem on Cardano Blockchain with ‘Streaming Merge’
2022 is expected to witness a liquidity shift moving to projects built on Cardano, thanks to the Cardano ER20 bridge.
Cardano has this year matched Ethereum in a number of services with its fee being a key selling point of stealing Ethereum’s market share. Its fee is 37.5 times lower than that of Ethereum. However, Apps on Cardano face more concurrency problems than Ethereum. In response to this, Cardax, a leading decentralized exchange has introduced a general-purpose algorithm to put to end the problem of concurrency.
Concurrency – the ability of different parts or units of a program or algorithm to execute out of order or partial order without tampering with results – is very critical to any Decentralized Exchange as it ensures that multiple transactions are processed without delay. In the UTxO model, it refers to the number of transactions that occur on-demand in blockchain, and from the same applications, by different users. However, the problem arises when more users interact with DEX protocols as they get popular. The Cardax‘s algorithm is called “Streaming Merge”, and considers a different way to approach the concurrency problem. It allows users to interact with the protocol without any interference from third parties.
“The algorithm provides exclusive threads to users to submit their actions and then merges those actions into a single thread that respects their timing. This merged thread can then be processed by a sequential action resolver – batches of consecutive actions that can be accessed by the platform when it needs it.”
The uniqueness of Streaming Merge lies in its extensive service to other projects hosted on Cardax in the future. Also, Cardax intends to make the algorithm accessible to all developers who seek to build dApps and do away with the problem of concurrency in Cardano by putting it on the general library.
This innovation is just one of the many interesting developments introduced by Cardax. Among the many Decentralized Finance projects on the Cardano Blockchain, it emerges as one of the fastest. It has features that allow users to trade ADA for any Cardano native token, or trade Cardano native for other assets within the same transaction. Also, it uses EAMM protocol for liquidity-sensitive automated pricing. Its vision has attracted partnership interests from a number of companies including Duncan Coutts’ renowned Well-Type team and MLabs. It has also partnered with Tweag, a software innovation lab that concentrates on Haskell development for finance platforms and applications.
Its project has been well accepted as it boasts of large followers on both Twitter and discord. In addition, Cardax was able to raise $9 million in public investment to expand its project on Cardano. It is much different from its competitors as its money is obtained from the Cardano community as it has not received any support from Venture Capitalist funds. It has also been able to seal collaboration with experienced Haskell and Cardano developers and advisors. It is currently working on launching the DEX this coming March. To provide a better user experience, they will work to introduce DEX 2.0. Cardax is also exploring the possible way of introducing its stablecoin on the exchange.
Cardax is very promising as users will benefit from the much lower fee on the Cardano blockchain. In addition, 2022 is expected to witness a liquidity shift moving to projects built on Cardano, thanks to the Cardano ER20 bridge. In this case, Cardano is well-positioned to take advantage of the new wave liquidity coming from the converted ER20 tokens into Cardano native tokens. Cardax has low fees, is very scalable, and aims to be fast and secure, putting it ahead of other competitors.
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