Cardano's Surge: IOG Reports Over 79M Transactions and 9.1 Million Native Tokens

Cardano's Surge: IOG Reports Over 79M Transactions and 9.1 Million Native Tokens

December 1, 2023

IOG’s latest development report (as of 1 December 2013) for Cardano (ADA) presents a flourishing blockchain ecosystem with significant strides in technology and community engagement.

Here’s a breakdown of the report:

  1. Core Technology:
    • The Site Reliability Engineering (SRE) team has improved Cardano’s environment and maintenance, including updating the Cardano node for better peer-to-peer (P2P) connectivity.
    • The consensus team is working on a patch to enhance network efficiency, expected in the next Cardano node update.
    • Development continues on UTXO-HD, focusing on integrating LSM-tree for more efficient data handling and performance improvements in block context acquisition.
  2. Smart Contracts:
    • The Plutus tools team migrated the Marconi sidechain to a new API for better integration with Cardano’s database.
    • The Marlowe team, focusing on financial smart contracts, improved their command-line interface and added new checks to the Marlowe validator for enhanced security and functionality.
  3. Scaling:
    • The Hydra team, working on scalability solutions, conducted tests on the mainnet and addressed node restarting issues. They also worked on calculating transaction values more dynamically.
    • The Mithril team released a client library for developers and a new distribution, focusing on certificate production and network enhancements.
  4. Voltaire (Governance):
    • Voltaire, Cardano’s governance phase, had a dynamic month with the beta launch of GovTool, committee workshops, and community events.
    • A nonbinding ballot on Cardano’s governance model, CIP-1694, opened for feedback.
    • New grant categories were announced to support community initiatives.
  5. Catalyst (Project Development):
    • The Project Catalyst submission deadline passed, moving proposals to the community review stage. This phase invites community members to review and provide feedback on various project proposals.

Statistics from the report reveal the dynamic activity within the Cardano network:

  • The launch of 150 projects and the ongoing development of 1,304 projects underline a vibrant and active development scene.
  • The creation of 9.1 million native tokens and the establishment of 81,447 token policies demonstrate the customizable and diverse use of Cardano’s asset creation capabilities.
  • A remarkable 79.2 million transactions have so far been processed, reflecting the blockchain’s reliability and adoption.

The culmination of Fund11 proposals marks the commitment to innovation and community-led project funding, further emphasizing Cardano’s dedication to fostering a collaborative and thriving ecosystem.

As Cardano continues to evolve with new technologies, scaling solutions, and a dedicated global community, its potential for transforming the blockchain landscape remains more promising than ever.

Featured Image via Unsplash

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