Cardano surpasses Bitcoin, Ethereum in transaction volume, here is the difference this time
According to data provided by Messari, Cardano leads Bitcoin and Ethereum in terms of transaction activity, taking the top spot. In terms of trading volume, Cardano overtook Bitcoin and Ethereum at $17.56 billion, while the latter recorded 24-hour volumes of $10.55 billion and $5.77 billion, respectively.
Adjusted transaction volume is still a good way to isolate only the most important transactions. Cardano outperformed Bitcoin and Ethereum in adjusted volumes, with a 24-hour volume of $17.15 billion, compared to the latter’s $4.67 billion and $4.25 billion. In comparison to Bitcoin and Ethereum, Cardano users also paid lower fees.
Cardano users only paid $51,985.43 in transaction fees over the past 24 hours, compared to $0.51 million and $19.39 million for Bitcoin and Ethereum, respectively.
While critics tend to dismiss Cardano as a “ghost chain,” it already has some decentralized applications (dApps) running on top of its blockchain, while the number of wallets holding the ADA token recently crossed the three million mark.
Cardan SundaeSwap reached a milestone of over 75 million ADA traded after just three weeks on the market.
IOHK announces Plutus update
IOHK, Cardano’s parent company, has announced the start of an updated proposal process to increase the per-block memory unit limit for Plutus scripts on the Cardano mainnet. The per-block Plutus memory unit limit will be increased from 50 million to 56 million at the epoch boundary on Feb. 14 as part of IOHK’s series of planned modifications and improvements aimed at scaling Cardano.
The Plutus memory limit per transaction was increased to 14 million by a previous settings update. According to IOHK, the increased memory limit per block will allow developers to take full advantage of the previous adjustment, allowing them to run up to four Plutus scripts for each block.
Plutus is Cardano’s smart contracts platform, which allows scripting programs to interface with the blockchain.
