• Cardano continued to push its efforts towards improving scalability, with the BASHO scaling team and other teams working on different projects.
• ADA was under the bears’ influence, but whale activity remained high.
• The Mithril team announced their mainnet launch date and the Plutus tools team worked on setting up runtime monitoring for the Marconi sidechain.
Cardano Bolsters Development Activity
Cardano has been making strides in terms of scalability, with multiple teams carrying out different projects. Last week, the Mithril team announced that their mainnet launch was around the corner, which is a promising update for Cardano’s efforts to improve scalability under the BASHO Era. Additionally, whale activity remained high despite ADA being under bearish influence.
Mithril Mainnet Release Looms
The Mithril team completed deployment of their mainnet infrastructure for its beta launch and are working on implementation of a simple stress test tool for benchmarking the aggregator. Meanwhile, Hydra team focused on exploring event-sourced persistence to improve hydra-node performance while Plutus tools team set up runtime monitoring for Marconi sidechain.
Daedalus Upgrade Released
The Daedalus team released an update (v5.3) bringing support for Project Catalyst registration process as well as improved exchange rate conversion stability. This upgrade provides an improved user experience along with enhanced security features like two-factor authentication and anti-theft measures enabled by hierarchical deterministic wallets architecture (HDW).
Cardano Network Statistics
Cardano’s weekly development report also included updated network statistics such as increased number of active wallets (up from 3 million in June to 4 million now), total transactions per day (over 6 million) and daily volume traded (exceeding $600 million). These figures point towards increasing adoption of Cardano within existing users as well as new ones entering crypto realm due to its expanding ecosystem.
Cardano continues to make significant progress in terms of development activity and scalability improvements. As shown by recent updates and network statistics, more users are turning towards this blockchain platform due to its excellent features such as HDW powered security solutions or Project Catalyst registration process support offered by Daedalus v5 upgrade .