Cardano Hits 100 Million Transactions: A Milestone of Growth

Cardano (ADA) Achieves a Major Milestone with Over 100 Million Transactions

In a significant stride for the Cardano network, ADA has surpassed 100 million transactions, highlighting its growing adoption and expansion. The month of November proved to be particularly outstanding for Cardano, with ADA’s price soaring an impressive 216%. This surge in value is accompanied by a notable increase in transaction volume, affirming the network's rapidly growing user base.

November Highlights: Growth in Transactions and Projects

According to reports from U.Today and Cardano developer Input Output Global (IOG), the total number of transactions reached 100.57 million, adding 2.65 million transactions throughout November alone. As of November 29, 2024, IOG noted the emergence of 1,979 projects based on Cardano, including 603 newly launched projects.

Increase in Token Policies and Native Tokens

• Token policies increased by 10,132;
• Issuance of native tokens rose markedly by 80,000;
• Plutus scripts saw an increase of 9,102, bringing the total to 100,800.

The thriving ecosystem of Cardano's projects underscores the platform's versatility and attractiveness to developers and users alike.

Cardano's Network Upgrades and Hard Fork Plans

November also saw the release of Node v.10.1.2, enhancing the functionality of the previous version v.10.1.1. This version is capable of crossing the Chang #2 hard fork, and a subsequent minor node release, 10.1.3, was announced to address a specific issue (Issue #4772).

Introduction of Plan 529

Plan 529 was also introduced, named after Epoch 529, which is set to commence on December 20, 2024. This period marks the anticipated initiation of governance actions for the mainnet hard fork. Stake Pool Operators (SPOs) and the Interoperability Coordination Committee (ICC) will have the opportunity to vote on the hard fork ratification in January 2025, a critical step for the network’s future.

Advancements in Smart Contract Development

Focusing on smart contract development, the Plutus team has made significant progress in serializing Agda-proof objects, moving closer to delivering a tool for certified compilation. Currently, a Cardano Improvement Proposal (CIP) is in progress aimed at adding modules to Untyped Plutus Core, a crucial evolution for enhancing smart contracts' functionality.

Protocol Insights and Hard Fork Proposal

Additionally, a new version of the Protocol Insights dashboard alongside the v.2445.0 distribution was rolled out. Notably, the hard fork working group has proposed naming the second hard fork of the Chang upgrade as the Plomin hard fork, paying tribute to Matthew Plomin, the late president and cofounder of USDM, who passed away unexpectedly in November.

Conclusion: The Future of Cardano

With the accomplishments in November and ongoing developments, Cardano (ADA) continues to solidify its position as a leading blockchain platform. The expected governance actions and enhancements to the smart contract ecosystem will likely keep attracting developers and users, making ADA a cryptocurrency to watch in the coming months.