With the launch of the “Facil” upgrade approaching, do you know the percentage of use of the Cardano network?
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Answer With the launch of the “Facil” upgrade approaching, do you know the percentage of use of the Cardano network?
Cardano Network is one of the leading crypto projects that operates the ADA cryptocurrency in the top 10.
Cardano is close to officially launching the Fasil upgrade after its successful launch on the beta network.
At present, the Cardano network uses, on average, about 40% of its capacity.
This may not be ideal because Cardano’s “Ouroboros” protocol is designed to handle massive amounts of data as well as transactions and scripts of varying complexity and size, so the most efficient scenario is for Cardano to operate at or near 100% of its capacity.
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In an effort to increase transaction throughput, IOHK has increased the block size limit twice this year to allow more transactions per block.
The block size has been increased from 64KB to 80KB, and then to 88KB.
Larger block sizes mean that more transactions can fit into the block, thus increasing capacity for users.
According to IOHK, increasing the throughput of a blockchain like Cardano is critical to security because accepting more load on the system may open up the possibility of DoS attacks.
As a result, Cardano follows a deliberate and meticulous process when making such changes.
Preparations for the Vasil upgrade continue as the development team splits Cardano’s beta network to test Vasil’s functionality.
The team is currently updating dependencies and working closely with SPOs and the community to resolve issues that may arise.
At the moment, 1029 projects are being built in Cardano, while 90 projects have recently been launched on Cardano.
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The number of NFT projects has reached more than 5,868.
At press time, the ADA is trading 5% at $0.42, according to CoinMarketCap data.
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