CardX gathering steam after the latest Cardano upgrade
Cardano’s recent upgrade to support smart contracts has taken the blockchain to a whole new level, with new crypto projects emerging to take advantage of the new development. Cardano’s new approach to compete Ethereum has, however, faced criticism as some observers see more of its inefficiencies rather than strength. For example, there are allegations that Cardano only supports one transaction per block, which means only one user can interact with a smart contract at a time. There is also the allegation is that Cardano is moving toward centralization, which is against why it was established in the first place.
But CardX is emerging to prove that all the allegations against Cardano are untrue. CardX is the decentralized exchange (DEX) built on the Cardano blockchain & aims to disrupt the DEX market by implementing a constant product pool AMM algorithm. CardX team are weighing in on some of the more common issue issues that have been raised against Cardano and using such to design what they believe will bring a lot of benefits to Cardano users.
The team at CardX is working to take advantage of Cardano’s new eUTXO to implement the new DEX. eUTXO is a new accounting model, which is an extended implementation of the “unspent transaction output” model from Bitcoin’s network. While eUTXO has had justifiable criticisms since its launch, such issues have to do with porting protocols.
CardX is working to ensure they work around these weaknesses and focus on the strength of Cardano to deliver something that will allow the seamless solution to keep liquidity accessible across versions of the protocol. The CardX decentralized exchange is designed to ensure validator smart contracts, which hold liquidity for each pool & have a list of future versions. CardX protocol’s governance will allow voting by its native token holders who can choose to add future versions to the list.