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According to data provided by Messari, Cardano outperforms Ethereum in terms of transaction volume over the past 24 hours ($7.02B and $5.41B respectively).
The two competing cryptocurrencies go ear to ear when it comes to adjusted transaction volume.
Notably, Cardano users paid just $66,058 in transactions in the last 24 hours, compared to $44.74 million on Ethereum.
While critics tend to dismiss Cardano as a “ghost chain”, there are already several well-known dApps running on top of the Proof-of-Stake blockchain, such as Ardana stablecoin hub, Maladex decentralized exchange, MELD decentralized banking protocol, and the CNFT non-fungible token market. .IO.
Cardano-powered decentralized exchange SundaeSwap recently announced the launch of its mainnet this Thursday.
John Woods, Director of Architecture for Cardano at Input Output, described numerous scaling solutions expected to be implemented in 2022 (improvements to Plutus, Hydra scripts, sidechains and Mithril). He also said that there is a “massive” number of projects that are close to completing their development:
You may have a few extra minutes to complete the transaction depending on how busy it is at the time. However, we do have a really robust scaling plan.
Last week, Cardano (ADA) also won a poll by Ethereum founder Vitalik Buterin asking what alternative to Ethereum could become the world’s dominant cryptocurrency by 2035.
Cardano is back in the top 5
According to CoinMarketCap, the price of the native ADA token has risen by approximately 7%. It has gained over 26% in the last week.
It is currently the fifth largest cryptocurrency by market capitalization, surpassing USD Coin and Solana stakecoin.
Posted by Newt Salamander, Analyst Freedman Сlub Crypto News
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