The Cardano network has now processed over 78.3 million transactions. Since its inception in 2017, the Cardano network has faced criticism for not matching the throughput of some other blockchains.
However, one undeniable strength of Cardano lies in its longevity and stability. Unlike many contemporary blockchains, Cardano’s maintained a consistent performance. It has experienced minimal technical glitches, boasting zero downtime over its six-year existence.
The influx of decentralised applications onto the Cardano network has increased transaction volume. Recent on-chain data highlights a significant milestone for Cardano, surpassing 78 million processed transactions. As of the latest count, the network has processed 78,312,179 transactions, with projections indicating a trajectory towards 10 million addresses within the next two years.
Blockchain analytics reveals that Cardano handled 1.29 million transactions in the past week. The observed transactions per second (TPS) currently stand at 2.13 over this period, with a maximum TPS of 6.1. This indicates Cardano’s capacity to process over six transactions per second, should the demand for blockspace necessitate it.
Notably, Cardano’s recent milestone aligns with increased user and developer activity on the blockchain, underscoring its growing significance in the evolving landscape of decentralised networks.
Cardano Leads in DeFi TVL and Developer Activity Rankings
As the number of transactions surges, Cardano emerges as a frontrunner in various aspects of the blockchain ecosystem. The blockchain has claimed the top spot in developer activity. It has also outpaced prominent networks such as Ethereum and Polkadot. This underscores Cardano’s growing influence within the developer community.
Simultaneously, the total value of assets locked in DeFi protocols built on Cardano’s experienced a notable upward trajectory. In the recent week, Cardano’s Total Value Locked (TVL) surpassed that of the Bitcoin network, marking a significant milestone after a sustained period of growth.
This achievement reflects Cardano’s increasing prominence and adoption within the decentralized finance landscape. This showcases its capacity to compete with established networks regarding economic activity and user engagement.