From ‘Zombie Chain’ to Thriving Ecosystem: Cardano Founder Highlights Increased Activity
The protocol’s founder, Charles Hoskinson has downplayed concerns about potential blockchain overload.
The Basho era of Cardano, being put in place over the next year or so, plans to improve scalability and handle future growth.
Popular decentralised network Cardano is experiencing renewed levels of growth and user activity as the chain begins its ‘Basho era’. The protocol’s founder, Charles Hoskinson, took to Twitter to announce the heightened engagement, while also laughing off accusations that the spike in activity may cause a blockchain overload.
In typical Hoskinson fashion, he couldn’t help but emphasise his ‘us against the world’ mentality:
I can’t help but watch with glee all the concerns floating around about Cardano’s blocks being too full. I recall the ghostchain narrative for years, the no use and utility. Suddenly we are too busy?
Cardano Blockchain Operating At Less Than Three-Quarter Capacity
The Cardano founder’s statement comes amid concern from some in the community that the blockchain may be struggling with ‘full blocks’ – an issue that could theoretically cause transaction finality to slow down and become a bit more expensive.
Besides denying that such issues with scalability even exist, Hoskinson previously stated that having ‘full blocks’ would be a ‘good problem to have’, signifying increased ecosystem engagement. And according to Cexplorer, Hoskinson is right – even though some of Cardano’s blocks are close to being filled, the network is still only operating at about 60-70% of its full capacity, giving it much more room to grow.
Source: Cexplorer.io
Basho Era Designed to Improve Scalability
Although it is not yet a reality, Cardano’s developers are in the process of preparing for growth that may otherwise overload the protocol. The most recent era focussed on implementing smart contracts to give Cardano a bigger hold of the DeFi market. Now, the team has turned its attention to scalability and facilitating new customers on the blockchain.
Simply, the Basho era is ‘about improving the underlying performance of the Cardano network to better support growth and adoption for applications with high transaction volume’.
Key to these upgrades will be the introduction of sidechains, which will innately help solve any potential ‘full block’ issues in the future anyway.
Though the increased user activity means the Cardano blockchain is in good health, the price of its native token hasn’t reflected the good news. ADA is up 2% over the past day (like the rest of the market), but has fallen 13% since last week.
Cardano (ADA), weekly chart, source: CoinMarketCap
The post From ‘Zombie Chain’ to Thriving Ecosystem: Cardano Founder Highlights Increased Activity appeared first on Crypto News Australia.
Filed under: Bitcoin - @ December 21, 2023 2:52 am