Cardano Hits 96M Transactions Milestone, IOHK Unveils Key Ecosystem Updates for ADA Growth

• The latest report by IOHK shows that Cardano hit 96 million transactions in the past week, proof that interest in the project remains high globally.
• There are now 10 million native tokens, with 1,373 projects building on the network and over 84,000 Plutus scripts deployed.

On-chain activity on Cardano remains high, with new technical upgrades sparking renewed interest from the community, the latest report from IOHK shows.

According to the weekly outlook report, the network hit 96.38 million transactions in the past week, which competes with some of the biggest networks in the space.

It’s your favorite time of the week: #EssentialCardano development update time!

Check out this week’s highlights and get the lowdown on the core technology, wallets and services, smart contracts, and scaling and governance developments. https://t.co/PQtRSZSEfw

— Input Output (@InputOutputHK) September 13, 2024

Some of the other figures from the IOHK report are:

• 1,373 projects are now building on Cardano.
• Users have deployed 10.36 million native tokens on the Cardano blockchain.
• The network now has 1.33 million delegated wallets.
• Users have deployed 165,546 token policies.
• Over 84,000 Plutus scripts.

Beyond the figures, IOHK revealed that it had deployed a new upgrade in the past week that bars stake credentials from withdrawing rewards if they are not delegated to any DRep and are only backed by a key hash. Beyond this, the focus was mainly on debugging for the core ledger team.

The performance team was busy with improvements under node v.9.1.1. They also:

• created a local tool to replicate the observed increase in UTXO-HD RAM usage.
• established a new performance baseline named ‘Age of Voltaire’.
• started testing the adjusted Nomad backend

Scaling, Voltaire and Catalyst

Cardano is in the age of Voltaire, where governance has been relegated fully to the members who register to become decision-makers as DReps. This transition was led by Intersect MBO, a member-based organisation for the Cardano blockchain, whose members include IOHK.

In its report, IOHK called on Cardano ecosystem members to participate by applying to join the committee and board, with the application period ending on September 27. Intersect MBO has been publishing the names and bios of the applicants as they receive them.

“If you or someone else can make a meaningful contribution, please consider applying for a seat or encouraging others to do so,” the report said.

Back to the development, the Mithril team focused on decentralising the signature orchestration this past week. This included building a buffer store for individual signatures that arrive before an aggregator processes them as well as refactoring the state machine.

“Finally, the team continued preparing the next distribution and investigated a breaking change introduced in a Hydra CI dependency.”

Meanwhile, Cardano founder Charles Hoskinson delivered a keynote presentation on Saturday at an event in Tokyo. The detailed presentation delved into the advancements of Cardano—and the broader blockchain technology—in the past decade, the lessons that Hoskinson and IOHK have learned and how they have adopted, and what the future holds for the sector.

???? ???? Catch @IOHK_Charles' in-depth keynote from Rooted in Research: Pushing the Boundaries of Blockchain Technology in Tokyo.

In this talk, he explores a decade of advancements in distributed systems, the lessons learned, and the ongoing challenges shaping blockchain's future.…

— Input Output (@InputOutputHK) September 14, 2024

On Wednesday, Hoskinson will take to the stage again, this time in Singapore at Token2049 to discuss fourth-generation cryptocurrencies.

ADA trades at $0.3492, dipping marginally in the past day, but is 3% higher on the weekly chart.