Cardano (ADA) recorded a total transaction of 11,043 million, and the 2004 project is currently built on the blockchain.
- The latest report shows 352 Dreps registered on the network, coupled with 278 commits.
Cardano (ADA) has announced a significant surge in network activity. This is what the number of projects currently being built on the blockchain in 2004.
Details highlighted in the weekly development report dated June 13, 820 for these projects reportedly focusing on inappropriate tokens (NFTS) use cases. Although 1,184 of these projects are also related to NFTs, the delegated wallets rose 0.04% from the previous week to 1.33 million. A total of 10.83 million native tokens were recorded, coupled with a token policy of 216,879.
A further review of Cardano’s performance within a week showed that the number of Plutus scripts also reached 138,365, with the Aiken scripts consisting of 7,213. Cardano, as mentioned in a recent news brief, recorded a 110.43 million deal, up 0.20% from the previous week. 1,352 delegated representatives (DREPs) were also registered, showing an increase of 0.44%. In particular, there was a 32% surge with commits up to 278.
Apart from these, several technical upgrades were recorded within a week when the site’s reliability engineering (SRE) team improved the Cardano environment and engaged in regular maintenance.
The consensus team also worked on “Leios Ledger and Protocol Design.” Reportedly, they are working to add transactions to the Haskell Leios simulator. Meanwhile, the proposed changes to the VRF tiebreaker have been widely appreciated.
Updated Cardano’s smart contracts and scaling development
Under the smart contract, implementation of boot and integer case analysis was completed by the Plutus Core team. Separately, the Plutus section of the blueprint has been completed to support developers’ implementation of alternative evaluators.
Under the scaling, Cardano suggested that the Hydra team had completed a final security check of the deposit logic. The Mithril team also announced the pre-release version of the 2524.0-PRE distribution. In addition to this, the LEIOS team focused on formal methods, infrastructure, and large-scale network simulations.
As shown in previous discussions, the main Cardano Governance vote was invited last week to vote for the proposed 275 million ADA budget, with ADA holders and delegated representatives (DREPs).
The team began the simulation using a new pseudominnet topology with 2,657 block producers and 10,000 nodes containing realistic global distributions. Simulations ranged from 1-300 transactions per second (TPS), with some performance bottlenecks revealed, particularly with the higher TPs of Haskell simulations and Rust versions.
With this in mind, Cardano co-founder Charles Hoskinson suggests that 140 million ADAs will need to be converted to USDM to solve existing liquidity supply challenges on the network. As mentioned in a recent post, successful implementations will create some kind of non-inflatable revenue for the Treasury, creating a stronger digital economy.
Hoskinson also revealed his willingness to lead the project into some incredible partnerships. As shown in our previous discussion, he anticipates a groundbreaking integration of XRP distributed finance (DEFI) over the network.
Until then, Cardano has received a major boost triggered by the Nasdaq decision to include ADA in its Crypto US Settlement Price Index (NCIUS), as reviewed in recent reports.
At the time of writing, the ADA was trading at $0.63 after decline. 4% In the last 24 hours. Analysts say these developments could drive ADA prices to $3 in the short term with explosive driving.
