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- 1 Cardano’s Trailblazer AXO is all prepared for its debut on the public testnet.
- 2 The launch is expected to mitigate the current struggles of Cardano’s Decentralized Exchange (DEX), mainly related to surging traffic.
With time the public demand for advanced, updated, and automated services boomed. Continuous evolution and advancement in the crypto space made it essential for the crypto enthusiast to operate with such demands and hassle-free exchanges. To fulfill this need, Cardano, a proof-of-stake (PoS) blockchain network came up with a new launch. The network finally launched its long-awaited Trailblazer AXO.
Cardano DEXs New Look
On October 19, a post from AXO filled Cardano DEX users with joy. The post related to the launch of the highly anticipated AXO Testnet launched on Cardano.
Cardano is an open-source and decentralized public blockchain and cryptocurrency project. The blockchain was founded by Ethereum Co-founder Charles Hoskinson in September 2017. The platform’s long-awaited decentralized exchange has made its debut on the public testnet. DEX is a platform or peer-to-peer marketplace that allows crypto holders to trade and make transactions. Uniswap, Aave, Polygon, etc. are some of the common DEXs in the crypto world. Cardano is another powerful name in the list and remained somewhat siloed in its offerings till now. AXO is Cardano’s latest and long-awaited DEX which will be added to the trading experience of crypto enthusiasts soon.
The DEX is out for public testing, warming crypto enthusiasts to check the innovative trading features and offer valuable feedback before the final launch of AXO. The platform went public for testing on October 19 and is expected to meet individual needs.
User-friendly trading interface for beginners, drag and drop interface and on-chain programming swaps will allow users to craft complex trading strategies. Also, the AXO is expected to resolve the real struggle associated with surging traffic.
Why the Decision Matters
AXO was previously known as Maladex and required a mandatory KYC process. The relaunch of the platform also boosted the expectations of crypto enthusiasts with trading and investing. The key reason behind the launch is triggering an overwhelmingly positive response from the community and mitigating issues associated with traffic.
However, the decision was not accepted by everyone and created a debate environment. Ilya Oskin, the co-founder of Cardano DEX, raised criticism of AXO, mainly for the UTxO-based Order Matching Engine.
“There is a huge problem with the programming of the respective platform. The infrastructure may challenge individuals from conducting any other transactions until their orders are executed on the blockchain” stated Ilya Oskin. According to Oskin, users are reporting issues with the platform’s front end along with the barrage of feedback and queries. However, the platform addressed issues with UTxO selection on the website and is actively working to fix the same.
The rising competition in the crypto world made it necessary for Cardano to address the issues. With the launch of AXO, Cardano is all set to fight with major players including Polygon, Solana, and Ethereum.
Conclusion
Cardano’s Trailblazer AXO is finally out for public testing. Crypto enthusiasts are invested by Cardano to test the DEX and provide feedback and relevant suggestions for further improvement. The platform is also expected to mitigate issues associated with surging traffic.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
