Massive Inflows into Cardano Just Getting Started –Charles Hoskinson

Charles Hoskinson, the CEO of IOG, who created Cardano, has stated that ADA is just getting started in terms of transaction volumes.

Hoskinson said this in response to a popular crypto analyst and trader, Lark Davis, who reported that Cardano (ADA) is the number two blockchain in terms of transaction volume in the last 24 hours.

The data shared shows that Cardano has a similar or higher transaction volume compared to Ethereum (ETH), the second-largest cryptocurrency by market cap.

Another point that is worth noting is that it took Cardano blockchain relatively $66,000 to process all of the transactions, while Ethereum spent over $44 million dollars in transaction fees.

Captioning the screenshot of the data, Lark Davis tweeted, “Cardano $ada is the number two blockchain in transaction volume in the last 24 hours.”

Charles Hoskinson Says Cardano Is Just Getting Started

In response to the analyst’s tweet, IOG boss Charles Hoskinson pointed out that the year has just started, which implies that Cardano will see massive inflows in 2022.

Charles Hoskinson tweeted, “Just getting started Lark, it’s just January.”

Cardano Scaling Plans for 2022 Unveiled

A few days ago, Input Output Global (IOG), the software firm behind Cardano development, unveiled Cardano scaling plans for 2022.

According to the update, the path IOG intends to take to achieve the scaling of the Cardano network in 2022 includes Block size increase, Pipelining, Input Endorsers, Improvements in Memory/CPU parameters for Plutus, Node enhancements, on-disk storage, sidechains, Layer 2 Hydra scaling solution, Offloading computation and the Mithril solution.

Recently, the block size of the Cardano blockchain was increased from 8kb to 72kb, which represents a 12.5% increase. According to IOG, lots of improvements will be implemented this year.

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.