Amidst the recent FUD that followed after the Cardano Testnet launch where other crypto maximalists attacked Cardano claiming it processes 1 transaction per minute.
This has already been refuted by the Cardano Community — ( you can read a detailed explanation of what happened and what people are getting wrong on Sundaeswap’s blog) and Charles Hokinston himself, the founder of the Cardano Blockchain.
Also, Input-Output HK refuted these claims in a Twitter thread. Even though Cardano uses the UTXO accounting model as opposed to the Balance account-model Ethereum uses, Cardano has improved the UTXO model and uses the Extended UTXO (eUTXO) model which allows for smart contracts and can process thousands of transactions per minute unlike what the FUDers are saying.
According to Charles Hokinston in a live broadcast on the 7th of September, Cardano Alonzo’s upgrade has been confirmed and will trigger the hard fork on Sunday, the 12th of September 2021 to introduce smart contracts.
Everything is getting ready.
If you want to learn more about how the eUTO model work read more in the full eUTXO official paper
Still wondering what smart contracts are?
Read this in-dept and well explained article by Decrypt to learn more.
Software Developer | Blockchain
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