7 October 2022
As per data from the blockchain explorer of Cardano, its network is processing around 75,000 transactions daily. It is showing impressive transactional activity but Cardano not yet working at full capacity, and the spike in the number of operations on the blockchain is due to increase.
There is a variety of news solutions coming up on the Cardano network leading to a spike in the network's transaction count. Synthetic tokens, stablecoins, and decentralized lending are going to become the main sources of transactional activity, which can gain up to 100%.
Currently, the number of transactions on the network represents regular transactions between users and trading operations on various platforms. While comparing Cardano to Ethereum the network's activity surges after the creation and adoption of DeFi platforms and applications.
Developers and investors of Cardano believe that with the growing adoption rate, we are going to see an increase in the network capacity as the blockchain is more than ready to cover an unexpected rise in transactional activity, with its TPS limit far above current values.
Cardano never faced any issues with transaction fees and network congestion, in contrast to Ethereum, which used to offer users up to $100 per transaction or contract interaction. For now, the transaction cost on both Cardano and Ethereum is almost the same.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice