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Cardano Now Averages Over 100,000 Daily Transactions

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The number of daily transactions on Cardano has surged above 100,000 in the last 15 days.


Cardano has been silently achieving significant milestones in terms of network adoption, as the number of daily transactions on the network has continued to be on the increase in recent times compared to what was recorded in the early days.

Contrary to the argument that Cardano is not widely used, data on Cardanoscan shows that the network now averages over 100,000 transactions per day.

In the last 15 days, the Cardano network has completed over 100,000 transactions on a daily basis, with the highest number of transactions completed on the network recorded on April 28, 2022, where a total of 134,723 transactions were recorded.

Cardano Daily Transactions Expected to Surge 

Although the feat is nothing compared to what is being recorded on Ethereum, one of Cardano’s closest rivals, which has an average daily transaction of 1.1 million, transaction volume on Cardano is expected to surge when the blockchain is used at the same capacity as Ethereum.

A Twitter user with the username @EdnStuff took to the microblogging platform to share the widespread adoption of Cardano in recent weeks, saying:

“Cardano now averages 100k transactions per day, which currently contain about 3 payments per transaction. Ethereum has about 1.1 million transactions on average per day. Cardano network effectively is used at about 36% the capacity of Ethereum.

A [dead] chain you say?,” @EdnStuff tweeted.

According to the user, the ADA community needs to change the standard at which to make comparisons between Cardano and another blockchain.

Cardano Smart Contract Lures Users to the Network

It is worth noting that following the launch of the Alonzo upgrade that added smart contract functionality to Cardano, the network has been widely adopted.

Since the launch of the upgrade, many decentralized applications have gone live with more developers still building dApps on Cardano.

The release of decentralized applications has continued to lure more users into adopting the blockchain to conduct different transactions, ranging from payments to staking.

Although Cardano is yet to release the Hydra upgrade that will enhance the network’s smart contract, daily transactions on Cardano have continued to surge.

The daily transactions are expected to double or triple from its current record when more decentralized applications go live.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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