The Cardano (ADA) blockchain has undergone a number of significant changes in recent months; as a by-product of network growth, Vasil’s next hard fork is also expected in June.
According to Cardano Blockchain Insights, the Cardano blockchain had a load factor ranging from 51.6% on May 14 to 81.9% on May 16, averaging 64% in May.
Average blockchain load (24 hours) on the Cardano network. Source: Cardano blockchain review.
The term “blockchain loading” refers to the current usage of Cardano blocks, with a score of 100% indicating blocks are full and 0% indicating they are free.
The peak load on the Cardano blockchain was in January
The average load on the Cardano blockchain reached an all-time high of 94% on January 22, 2022, and since then it has been unable to maintain the load on the blockchain above 90%.
However, it is important to note that the increase in blockchain load in January was in line with Cardano’s proposal to increase the block size by 12.5% to account for the expected increase in network traffic.
With the launch of smart contracts in September, there was a significant increase in traffic, which required improvements in the scalability of the blockchain platform.
As such, Cardano is becoming more scalable, and the addition of smart contract capabilities has led to huge growth, improving the platform’s ability to compete in many ways with its biggest competitor, Ethereum. Cardano continues to see investors as over 2,000 new wallets were added per day during the month despite market volatility.
Cardano is currently trading at $0.4847, down 4.95% in the last 24 hours and down 6.00% in the previous seven days, for a total market capitalization of $16.3 billion, according to CoinMarketCap data.
The average post-load of the Cardano blockchain in May remains relatively high at 64%, which first appeared on Coinphony.