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HomeCryptocurrencyAltcoinsIs SundaeSwap Really A Fraud? Cardano's Founder Fires Back At DEX Critics

Is SundaeSwap Really A Fraud? Cardano’s Founder Fires Back At DEX Critics

Sunil Sharma

Charles Hoskinson is clearly not letting any Cardano criticism slide these days. The CEO of the Cardano Blockchain has fired back at a popular cryptocurrency commentator, Ran Neuner, who recently critiqued the decentralized exchanges (DEX).

Charles Hoskinson makes a case for DEX’s

Ran Neuner, who is popular for making cryptocurrency related content, had taken to twitter to post his new content, which critiqued some of the least promising digital currencies.  Today we’re going to address some of the most shilled coin’s in the crypto community and why they probably won’t make it.” He tweeted.

In his analysis, he maintains that Cradano’s DEX’s are not efficient, as they cannot carry out quick transactions; a problem that many DEXs in the market face. Hoskinson, in response to the claim, which he considered objectively inaccurate, asked that the thread be spammed with screenshots of live dex transactions.

“Hey @IOHK_Charles, as I said in the video, I am a huge fan and also hold ADA, but which DEX can actually do fast transactions today with reasonable volume. And please don’t say SundaeSwap” replied Neuner.

Hoskinson on the other hand branded Neuners claims as misinformation. He’s quoted on Twitter saying:

“What the hell are you talking about? Dexs on cardano are handling more load today than at the launch of sundaeswap and settlement time is sub minute. Wingriders in particular is running extremely fast. You’re spreading misinformation. I don’t know why. But you are”

SundaeSwap Behind The Scenes

Neuner’s concerns towards SundaeSwap, have also been mirrored by users of the platform, whose criticisms and complains have been numerous. SundaeSwap, the first decentralized application to hit the Cardano network, has underperformed severally. Users who attempted to test the platform after its launch, reported difficulty in transacting.

This was later tracked to network congestion. Although SundaeSwap’s Chief Executive Officer, Mateen Motavaf, insisted that the issue was a result of heavy load on the cardano network, the setbacks continued even after 48 hours. One user revealed that the slow transaction speed cause him to lose $70,000. Another disclosed that he waited over 12 hours to receive his transaction.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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