Cardax Creates Algorithm to Solve Concurrency on Cardano Blockchain

Cardax, a leading decentralized exchange (DEX), has developed an innovative general-purpose algorithm that solves the problem of concurrency on the Cardano blockchain.

This development is huge and will bring about improved efficiency and user experience within its DEX. 

Solving the concurrency problem? 

Concurrency is the ability of different parts or units of a program, algorithm, or problem to be executed out-of-order or in partial order without affecting the final result. This allows for parallel execution of the concurrent units, leading to improved speed and efficiency of the dApp. 

Concurrency is important to any DEX as it allows multiple transactions to be processed at once without delay. The problems of concurrency usually occur as the dApp gets popular and more users interact with its protocol.

dApps on Cardano also face more problems dealing with concurrency than Ethereum. This is because Cardano blockchain is implemented in an UTXO-accounting model instead of an accounts-based model like Ethereum. 

UTXO-accounting model is more secure and decentralized than Ethereum, a critical point for truly decentralized DEXs. Therefore there must be a way to resolve problems of concurrency. 

The Cardax solution 

Cardax has taken a different approach towards solving the problem by developing a concurrency algorithm called ‘’Streaming Merge’’. Streaming Merge provides an elegant and novel solution to the concurrency issue. 

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. 

This general-purpose algorithm will allow users to interact with Cardax’s protocol without interruption or interference from anyone. Streaming merge also goes beyond Cardax DEX and will be utilized by other services hosted on Cardax in the future. 

Cardax also intends to release the algorithm in a general library that can be accessed by developers looking to build dApps and eliminate the concurrency problems on Cardano. 

A fast-growing DeFi ecosystem

Cardax is regarded as one of the fastest-growing decentralized finance platforms on the Cardano blockchain. It intends to transform the DeFi scene by including innovative features such as the ability to trade ADA for any Cardano Native Token, trade Cardano Native Token for another within the same transaction and provide liquidity-sensitive automated pricing using the EAMM protocol. 

Cardax has also secured major partnerships with key blockchain companies within the Cardano ecosystem. This includes Well-Typed, MLabs and Tweag, all involved in developing the DEX. It is also backed by IOHK, the research arm of Cardano, which provides consultancy support to the project. 

Cardax also achieved a major milestone by securing over $9 million in public funding round to develop its platform on Cardano. The DeFi protocol has already outlined that it will be launching the DEX in the coming months and will release upgrades during this period to improve user experience. 

ABOUT CARDAX

Cardax is an exciting DEX emerging on the Cardano ecosystem, which strives to be a Cardano Native Token powerhouse, focusing on deep liquidity and a simple interface. Cardax endeavors to rise to the challenges of illiquid AMMs by employing a first-to-market Extended Automated Market Maker (EAMM).

In practice, this means anyone can become a market maker, either by starting a liquidity pool or participating in one already existing. The EAMM is designed to address the barriers of entry that exist in current AMM protocols and ensure a fair and uncomplicated experience for users.

To learn more about Cardax, visit the following links, Website, Twitter,  Discord.