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Cardano now has over 160,000 active addresses, with over 30 million transactions


February 10, 2022 · By Muhammad Awwal
Cardano (ADA)

The Cardano blockchain has witnessed substantial growth with a succession of innovations over the previous year.

The number of active addresses on the blockchain network has now reached 162,000 as well as the total transaction volume on the blockchain nearing 30 million. 

A variety of decentralized finance (DeFi) apps have been established on the network after the debut of the Alonzo hard fork, which is part of the network’s “Goguen” phase, named after Joseph Goguen, an American professor of computer science, and the introduction of smart contracts.

Since the launch of the Alonzo hard fork in September 2021, which enabled the network to process smart contract code for the first time, the number of smart contracts running on the Cardano blockchain has been steadily increasing. 

According to Chinese journalist Wu, the number of smart contracts on Cardano topped 1,000 at the end of January, and the number of transactions followed suit, surpassing 30 million. 

According to Cardanoscan, the number of active addresses has recently reached 162k, the total transaction volume has exceeded 30m, and the TVL on the chain has reached $99.32m. Most TVL are from SundaeSwap-TVL. pic.twitter.com/DunoCCElxP

— Wu Blockchain (@WuBlockchain) February 10, 2022

The 30 million transaction milestone comes after Cardano developer Input Output advocated raising the network’s block size by 11%, from 72 to 80 KB, when the network’s load exceeded 90%.

The Total Value Locked (TVL) on Cardano’s DeFi dApps has surpassed $100 million, with the majority of that locked in SundaeSwap, the network’s recently launched Decentralized Exchange.

The number of active addresses on the blockchain network has now reached 162,000 as well as the total transaction volume on the blockchain nearing 30 million. 

A variety of decentralized finance (DeFi) apps have been established on the network after the debut of the Alonzo hard fork, which is part of the network’s “Goguen” phase, named after Joseph Goguen, an American professor of computer science, and the introduction of smart contracts.

Since the launch of the Alonzo hard fork in September 2021, which enabled the network to process smart contract code for the first time, the number of smart contracts running on the Cardano blockchain has been steadily increasing. 

According to Chinese journalist Wu, the number of smart contracts on Cardano topped 1,000 at the end of January, and the number of transactions followed suit, surpassing 30 million. 

According to Cardanoscan, the number of active addresses has recently reached 162k, the total transaction volume has exceeded 30m, and the TVL on the chain has reached $99.32m. Most TVL are from SundaeSwap-TVL. pic.twitter.com/DunoCCElxP

— Wu Blockchain (@WuBlockchain) February 10, 2022

The 30 million transaction milestone comes after Cardano developer Input Output advocated raising the network’s block size by 11%, from 72 to 80 KB, when the network’s load exceeded 90%.

The Total Value Locked (TVL) on Cardano’s DeFi dApps has surpassed $100 million, with the majority of that locked in SundaeSwap, the network’s recently launched Decentralized Exchange.

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