Cardano Milestone: Network Hits 100 Million Transactions and Counting

Cardano (ADA) hit a major milestone in November by surpassing 100 million transactions. This achievement reflects the network’s rapid expansion and growing user adoption. November proved transformative for Cardano. The ADA price skyrocketed by an impressive 216%, fueled by increased activity on the network.

Transaction volume surged, with Cardano recording an additional 2.65 million transactions. Input Output Global (IOG), Cardano’s developer, reported the total number of transactions reached 100.57 million by the end of the month.

Another month, another set of strides for the Cardano ecosystem. Take a look at November’s main updates and achievements from across the community.

Discover the growth of the #Cardano ecosystem in November, along with the main monthly highlights.

* Statistics are based on… pic.twitter.com/meKZznoLNV
— Input Output (@InputOutputHK) December 5, 2024

Growth in Projects and Token Policies

The network also saw an explosion in development activity. As of November 29, 2024, IOG confirmed 1,979 Cardano-based projects, with 603 launched in November alone. The number of token policies grew by 10,132, while native tokens increased by 80,000. Meanwhile, Plutus scripts saw a significant boost of 9,102, reaching a total of 100,800.

Cardano introduced Node v.10.1.2 in November, an update designed to handle the Chang 2 hard fork. Shortly after, the minor release v.10.1.3 resolved Issue 4772. IOG also revealed “Plan 529,” named after Epoch 529, which starts on December 20, 2024. This plan sets the stage for initiating the mainnet hard fork governance action in January 2025.

Smart Contract Advancements

The Plutus team made strides in smart contract development. They completed work on serializing Agda-proof objects, bringing certified compilation closer to reality. A proposal to add modules to Untyped Plutus Core is under development. Additionally, IOG launched a new version of the Protocol Insights dashboard and released v.2445.0 distribution.

The hard fork working group proposed naming the second Chang upgrade hard fork as “Plomin,” honoring Matthew Plomin, USDM’s late president and cofounder. The Cardano community embraced this proposal.

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Cardano reached a significant milestone with the approval of its constitution, marking a new chapter for the platform and the broader crypto industry. The community will decide whether to ratify it in January 2025, with voting expected to take place on-chain. Cardano’s November performance highlights its robust growth, innovation, and commitment to long-term development.

Lanre Durojaiye

Mr. Durojaiye Olusola is a finance graduate and cryptocurrency writer with over a year of experience providing market insights and clear, well-researched analysis. Dedicated to helping readers understand blockchain trends and digital asset developments.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.