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Cardano Transaction Count Spikes to 75,000 with More to Come

Thu, 08/11/2022 - 08:16
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Arman Shirinyan
Cardano almost at 80,000 transactions daily, but network can easily fit more
Cardano Transaction Count Spikes to 75,000 with More to Come
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According to data from the blockchain explorer of Cardano, the network is currently processing around 75,000 transactions daily. But despite showing impressive transactional activity, Cardano is not yet working at full capacity, and the spike in the number of operations on the blockchain is due to increase.

With the upcoming variety of new solutions on the Cardano network, the network's transaction count is expected to spike rapidly. Synthetic tokens, stablecoins and decentralized lending are going to become the main sources of transactional activity, which can gain up to 100%.

Cardano transactions
Source: Messari

As of now, the number of transactions on the network represents regular transactions between users and trading operations on various platforms. If we compare Cardano to Ethereum, then we will see how the network's activity surges after the creation and adoption of DeFi platforms and applications.

With the growing number of transactions on the network, we will see the general evolution of Cardano as more transaction fees are going to be paid and incentivize developers to build more applications that will help with the mass adoption of the ecosystem.

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The majority of Cardano investors and developers 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.

Luckily, Cardano never had 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.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.