Cardano (ADA) developers recently introduced a new upgrade to the network amid the push into the next phase of the Cardano blockchain’s development.
The development team Input Output Hong Kong (IOHK) issued a statement in a blogpost which stated that the number of Cardano users and transactions went up significantly. The statement acknowledges that this occurred soon after the network instituted its smart contract capability beginning with the Alonzo upgrade in September. The official statement read:
“Recent hard forks (adding native tokens and smart contract capability) have brought many new users into the Cardano ecosystem, and we have seen rapid growth (and spikes) in transaction volumes and network traffic.”
According to IOHK, the number of transactions increased over twenty-fold within a year – from the under 10,000 daily it was doing in November 2020. It is currently doing over 200,000 transactions per day.
IOHK also revealed that it will increase Cardano’s block size from 8 kilobytes to 72 kilobytes. This is roughly a 12.5% increase, which the technology development company says is necessary to cover the substantial traffic growth. IOHK explains that a bigger block size translates to more transactions per block, which further translates to greater user capacity. In the company’s words:
“Being able to fit 12.5% more transactions into a block is significant, as it means that we’re processing more transactions per second.”
Image Credits: Pixabay
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