![]() Thus, if someone sent me 1 bitcoin, there would be a transaction with an output of 1 bitcoin, with the owner being my public key. Each transaction between users consumes some inputs, and produces some outputs, with each output representing a bundle of value (some bitcoin) and a declaration of who can spend it. Historyīitcoin introduced the world to the notion of tracking user funds via a list of “unspent transaction outputs,” or UTXO for short. To fully understand the impact of this decision, let’s discuss some background. Similarly Lars Brünjes, the Director of Education at IOG, has tweeted about it, and many others along with him. This is certainly true we alluded to this in our whitepaper many months ago. Many people have pointed out that Cardano’s choice of eUTXO can create issues when porting protocols. Of note to all of us in the Cardano community, it’s worth analyzing what trade-offs Cardano has chosen to make, and a useful point of comparison is Ethereum. Often, you can track the career growth of a software engineer by how well they recognize and employ these trade-offs to solve a problem. The art of system design is often the art of choosing between trade-offs. This article is rather technical from here on out, but we’ll close with a non-technical summary. It seems to be a good time for the SundaeSwap team to weigh in on some of the more common issues being raised - especially the design and accounting decisions that led Cardano to choose the eUTXO model over Ethereum’s approach, as well as the impact that this choice has on concurrency on the Cardano blockchain.Īlthough we see a lot of intensity to this discussion, we hope to dispassionately explore some upsides, downsides, misconceptions, and finally, present some potential solutions. All of these are inaccurate, and we present below a new framing and the start of a few solutions that dApp builders might choose. Misconceptions are now floating around suggesting that Cardano only supports one transaction per block, only one user can interact with a smart contract at a time, and that cardano is ultimately destined for centralization. Many critics are using this discussion as an opportunity to point to Cardano, misrepresent the problem, and ultimately underestimate the potential of one of the giants of the crypto industry. This effort has created a ferocious discussion around some of the design decisions behind Cardano. ![]() The surge of activity that followed included many dApp tests and experiments, with developers eager to perform a large-scale test and show off their hard work. After months of testing with smaller groups, the Cardano public testnet was recently upgraded to support smart contracts.
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