Cardano (ADA), the sixth-largest cryptocurrency by market capitalization, has recently attained a significant milestone in terms of the total number of transactions.
Cardano, the largest proof-of-stake (PoS) blockchain, has now surpassed the 20 million transaction count. What is significant about this attainment is that it was achieved without a single day of downtime on the Cardano network.
Read Also: Cardano Block Size to Increase by 12.5% to 72KB on 1st December after Testnet Deployment This Week
The new development was shared by a Cardano subreddit member with username em_colley and currently trending on the ever-growing subreddit.
The user pointed out that the Cardano blockchain maintains its stability without suffering downtime for 1522 days, while other competing blockchains have suffered downtime multiple times.
Over the past couple of weeks, Cardano (ADA) has been facing lots of criticisms due to its lethargic growth in the market. The digital currency maintained a price zone while other altcoins were accruing massive gains, giving investors reasons to worry.
Despite the below-par performance exhibited by the cryptocurrency in recent times, Charles Hoskinson, the CEO of IOG believes that 2022 will be fun for Cardano because it’s a year about optimizing throughput and connecting sidechains on the blockchain.
Hoskinson said critics fail to see Cardano’s Ouroboros as a protocol family with solutions to hard problems.
Charles Hoskinson noted,
“What people don’t get about Ouroboros is that it’s a protocol family that already has the hard stuff figured out. 2022 is about optimizing throughput and connecting sidechains. It’s not theory. It’s just code from pipelining to input endorsers. It’s going to be a fun year.”
The number of active addresses on the Cardano ($ADA) network has recently jumped from around 150,000 per day to over 480,000, before plunging back to 200,000, according to available on-chain data.
The data provided by Messari reveals that as the price of the digital token ADA went down, the number of active addresses suddenly increased. This indicates that Cardano continues to accrue massive interests despite the lethargic growth it exhibits in terms of price.
Read Also: Charles Hoskinson: Many Great Innovations Are Joining Hundreds of Projects Building on Cardano
It can be recalled that Cardano staking addresses grew by over 120,000 in just two months as more investors bet on the digital currency and the prospect of its ecosystem.
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Baguio City, Philippines, 25th September 2024, Chainwire
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