After the lackluster first half of 2022 on Cardano… will Cardano’s much-anticipated promotion contribute to the project’s return to brilliance?
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Answer After the lackluster first half of 2022 on Cardano… will Cardano’s much-anticipated promotion contribute to the project’s return to brilliance?
The Twitter account called “ADA whale” answers the question in the above title by saying:
Cardano is still in a very solid position despite the lackluster first half of 2022 in terms of dApps throughput.
Recently, Cardano’s IOHK Corporation announced increases in Plutus text memory as Cardano sought to address scaling difficulties it faced in achieving the throughput required to support real-world applications.
Improvements in memory and CPU parameters for Plutus remain one of 11 ways Cardano plans to expand this in 2022.
Other paths include increasing the block size, optimizing the connection mechanism, input validator, node optimizations, disk storage, side meshing, layer 2 Hydra optimization and optimizing scaling solutions.Read:Learn about the main reasons for the rise in the price of the DASH cryptocurrency
These features, when combined with parameter adjustments, aim to enhance Cardano’s productivity and optimize the system to support a growing number of Decentralized Finance (DeFi) applications, smart contracts and DEX platforms.
Currently, six dApps contribute to Cardano’s TVL locked value of $129.96 million per DefiLama data.
However, the number of dApps may not be a cause for concern because TRON, currently the third largest DeFi platform, has seven dApps contributing to the $6 billion TVL lock value.
Cardano Network Growth:
The founder of Cardano recently shared a tweet depicting a 369% increase in the daily transfer volume on the Cardano network compared to other blockchain networks, which recorded a significant decrease in this aspect.Read:Will we see a new partnership between Ripple and the e-commerce giant “Amazon”?
In its latest weekly development update, the IOHK Twitter account shared stats and figures for the network’s growth.
Currently, 992 projects are being built in Cardano, while the number of NFT projects has increased to 5796.
Over the course of the week, the total number of development links on the “GithUp” platform reached 2,769.
The number of Plutos texts reached 2,769.
The ADA is currently trading at $0.62, which is 11 percent higher than it was in the last 24 hours.
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