The developer of the favored blockchain visualizer on Cardano eUTxO.org Peter Oravec debunked a well-liked false impression about Cardano’s low variety of transactions on the blockchain in comparison with smaller different networks like HBAR.
Based on the unique submit, the help of the HBAR community shares eye-catching knowledge: the comparatively younger community HBAR appears to have virtually the identical precise variety of transactions as Cardano, which has been working within the trade since 2017.
Your stats are deceptive… 99.6% of #HBAR transactions are simply consensus messages…
Cardano doing 10x extra actual transactions and it is permissionless, anybody is usually a SPO with out asking anybody, open sourced, not patented, low HW necessities, totally decentralized… 🤷♂️ pic.twitter.com/a3np2yJklU
— Peter Oravec – eUTxO.org (@oravecpeter) January 21, 2023
Nevertheless, it’s too early to make any assumptions: the stats anybody can see on the HBAR blockchain explorer are deceptive, says the developer. Greater than 99% of all transactions on that community are consensus messages and don’t have anything to do with actual community utilization.
In comparison with HBAR, Cardano is making 10 instances extra actual transactions and stays permissionless, therefore extra decentralized. The consensus messages that correspond to most of HBAR’s transactions are usually not really tied to worth transfers, which is why they can’t be thought of “actual transactions.”
Different Cardano lovers rushed to disagree with the unique submit’s creator and advised him to turn out to be extra educated previous to sharing deceptive details. Cardano is certainly a a lot larger community in comparison with HBAR and gives extra worth, particularly contemplating the quantity of recent options and tasks which have attracted a whole lot of recent customers on the blockchain since its launch.
Sadly, Cardano’s underlying cryptocurrency ADA is just not doing as effectively in the marketplace as one would count on after taking a fast take a look at the community’s improvement in the previous couple of years. Even in the course of the short-term bull run, ADA is barely overperforming Bitcoin’s progress and never even remotely overlaying the losses buyers have skilled since 2021.