Cardano (ADA) has achieved a significant milestone by surpassing 94 million transactions, a landmark achievement that underscores the network’s growing adoption.
Aside from transactions, Cardano is also seeing growth in other network parameters.
ICYMI: the must-read digest of the week’s development highlights. Check out the #Cardano development update and stay in the know. Now live and ready for your reading pleasure on #EssentialCardano. https://t.co/MrSFThcRuv
— Input Output (@InputOutputHK) July 21, 2024
As indicated in Input Output Global’s (IOG) most recent weekly report, the total value locked on the Cardano network is currently 548.4 million ADA. There are 10. 2 million native tokens minted across 146,328 token policies. Plutus scripts totaled 67,950, with 1,368 projects currently building on Cardano.
According to the most recent CoinShares report, digital asset investment products saw further buying with inflows of $1.35 billion last week, bringing the previous three-week inflows to $3.2 billion.
Cardano has marked the second consecutive week of inflows, reporting $0.4 million in the past week. At the time of writing, ADA was up 0.4% in the last 24 hours to $0.432.
Preparations ongoing for Chang upgrade
The Chang upgrades, the first of which is anticipated for August 2024 (assuming community preparation), are expected to be a transformative event for Cardano, marking a critical milestone in its upgrade roadmap.
Chang is effectively the first hard fork on the Cardano network during the Voltaire phase of the project’s roadmap.
As Cardano eagerly awaits the Chang upgrade, the focus has shifted toward extensive testing. This is crucial to ensure that all systems are robust and fully prepared for the upcoming transition to the Conway era.
The Lace team is currently preparing for the release of Lace v.1.14, which is expected to be ready in the next couple of weeks.
With the release of Cardano node v.9.0.0, an alert has been issued to all node users to upgrade to this version of the node in preparation for the Chang upgrade. SPOs will only need to include a small configuration update (node 9.1.0) to be fully up-to-date.
A hard fork combinator event can occur once nearly 75% of SPOs have upgraded to cardano-node 9.1.0.