Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
Nearly 1,000 projects run on Cardano, while the number of transactions and percentage of ADA in staking increases. These and other metrics speak to Cardano’s growth.
Despite the downward trend in the price of ADA, the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Cardano has shown several important signs of growth in recent weeks.
According to data compiled byCardano Blockchain Insights , the Proof of Stake (PoS) blockchain saw an increase in transaction volume, ADA addresses and native tokens during the month of April. Other metrics also suggest positive signs of adoption that provide insight into the broader state of the project.
Total transactions increasing
The network Cardano went from registering a total of 36.5 million daily transactions for the beginning of April, to a total of 39.5 million for the beginning of May, according to data and graphs provided by the aforementioned portal. The figure represents an increase of about 8.5% in the last 30 days, and more than 35% since the beginning of the year, when the total number of transactions was 25,000,000.
Average daily transactions also showed positive signs, as it remained above 100,000 transactions for most of April. The metric reached a monthly high of 140,000 daily transactions, although it has surpassed this figure before. By March 17, 2022, Cardano reached about 340,000 transactions per day, according to the data.
On average, the network Ethereum a decentralized open-source blockchain with smart contracts functionality. , plataforma rival de Cardano The average number of transactions per day is around 1.1 million. This means that, with more than 100,000 transactions per day on average, the network Cardano would be operating at 25% of the utilized capacity of Ethereum as estimated by theCardano Blockchain Insights un tweet .
Other positive metrics for Cardano
In other positive metrics, the total number of addresses holding ADA also saw growth during April. According to the data, the number of wallets with the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. went from 3,195,821 to 3.2 million, which translates to a modest 3.2% increase.
Growth in this metric has been steady in recent months, as the graphs show that at the beginning of the year, the number of ADA addresses was below 3 million, at 2,666,372 as of January 1.
While other metrics, such as the number of ADA addresses created daily, have shown signs of falling in the first four months of 2022, other data suggests a sense of optimism among ecosystem users. Cardano . Por ejemplo, el porcentaje total de ADA en staking participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards. (or participation).
According to the metrics ofCardano Blockchain Insights, el total percentage of ADA in staking is now 72.6%. . The figure, which rebounded in April after a drop to 68%, suggests that investors have confidence in the project in the medium and long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. term, and are already willing to lock up their funds as collateral collateral is any asset that a lender accepts as a form of security to ensure that the borrower repays a loan. in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for receiving a percentage reward in ADA.
Another metric that showed a large percentage of growth was the number of tokens created in Cardano which went from 4.1 million to 4.6 million during April, representing an increase of nearly 12% over that period. The number of tokens running the network has increased by a remarkable 73% since the beginning of the year, when the metric remained below 3 million tokens.
Among other metrics that speak about the current state of the blockchain, it’s worth noting that currently the average network load Cardano is 75.37%, according to data from the last 24 hours.
Cardano grows, but ADA remains in decline
The data are in line with the most recent milestones achieved by Cardano and are consistent with other growth metrics shared by the team at Input Output during the weekend.
The technology development company said in a thread on tweets which are currently nearly 1,000 decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. application projects (Dapps) which build on Cardano . Specifically, there are 925 of which 48% are from tokens no fungibles (NFT).
— Input Output (@InputOutputHK) May 2, 2022
The announcements come just days after the mainline network’s Cardano deploy an update that increased the block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. size by from 80 KB to 88 KB to allow more transactions and scripts in a single block, a move that aims to bring more scalability to the project. Cardano and its smart contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. platform a place to buy, sell and store cryptocurrency Plutus will also undergo a major update in June, called “Vasil”, which will be activated in the form of a hard fork or hard fork.
Despite the good news, the price of ADA remains in bearish territory. At the time of publishing, the cryptocurrency of Cardano is trading at USD $0.73, down 11% from a week ago, according to data from CryptoMarkets .
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- Cardano’s price rose more than 30% in the last 30 days after network activity spike
Article by Hannah Estefania Perez / DiarioBitcoin
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