Cardano has achieved a new milestone by processing a total of 78.3 million transactions since its inception.
Cardano started in 2017 and has faced criticism for not being as fast as some other blockchains. But, what’s clear is that Cardano has been around for a long time and is stable.
Cardano’s Milestone: 78 Million Transactions and Growing Activity
Unlike some new-age blockchains, Cardano has maintained remarkable stability with minimal technical issues and zero downtime in its six years of existence. This consistent performance, coupled with the recent influx of decentralized apps, has fueled a surge in transaction numbers.
Recent on-chain data reveals that Cardano has surpassed a significant milestone, processing over 78 million transactions to date. As of now, the tally stands at 78,312,179 transactions, and Cardano is on track to reach 10 million addresses within the next two years.
Blockchain analytics indicate that Cardano handled 1.29 million transactions in the past seven days, with an average of 2.13 transactions per second (TPS) during this period. Despite a maximum TPS of 6.1, reflecting the network’s capability to process over six transactions per second, actual demand determines the rate.
This milestone coincides with increased user and developer activity, showcasing Cardano’s growing prominence in the blockchain space.
Cardano’s Dominance: Leading in Transactions, Developer Activity, and DeFi
As the number of transactions on Cardano rises, the blockchain is asserting its leadership across various metrics in the blockchain ecosystem. Notably, Cardano recently claimed the top spot for developer activity, surpassing well-established platforms like Ethereum and Polkadot.
Simultaneously, the total value of assets locked in Cardano-based DeFi (Decentralized Finance) protocols is on a steady upward trajectory. In the past week, Cardano’s Total Value Locked (TVL) exceeded that of the Bitcoin network, marking a significant achievement following a period of sustained growth.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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