As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I have seen my fair share of network outages, security breaches, and rug pulls that would make even the most stoic among us question our sanity for investing in such an industry. However, there is one blockchain platform that has managed to stand tall amidst the chaos, and that’s Cardano (ADA).
Cardano‘s proof-of-stake platform, ADA, achieved a significant milestone in reliability, having operated continuously on the mainnet for approximately 2,500 days without any major performance problems. Moreover, a community member highlighted this remarkable feat. In addition, it is worth noting that the total value locked (TVL) within its DeFi sector has been trying to rebound after dipping to nine-month lows following the drop in early July.
Cardano (ADA): 500 epochs, zero outages, community celebrating
The aging blockchain platform Cardano (ADA), known for being one of the earliest proof-of-stake (PoS) networks, successfully completed its 500th epoch without any interruptions or downtime. This significant achievement was pointed out by Jaromír Tesař, a seasoned blockchain expert and dedicated Cardano (ADA) advocate.
At the moment, we’re on epoch 500 with Cardano, which represents a five-day period. In other words, Cardano has been consistently operating for over 2500 days without any network halts or resets.
— Cardano YOD₳ (@JaromirTesar) August 1, 2024
Since an epoch of Cardano (ADA) lasts approximately five days, this implies that it has been continuously processing transactions for around 2,500 days straight.
Supporters of Cardano (ADA) are rejoicing over this dependability milestone. Meanwhile, many doubters are scoffing at the blockchain due to minimal on-chain transactions and underwhelming price fluctuations of its primary cryptocurrency, ADA.
During the years 2023-2024, several significant blockchains experienced recurring network disruptions. As an example, Solana (SOL), one of the proof-of-stake (PoS) blockchains, encountered a five-hour downtime in April this year.
As a keen analyst, I experienced an unexpected halt in block production on the Avalanche (AVAX) blockchain on February 23rd. As U.Today had earlier reported, both networks swiftly responded with emergency updates to their respective codebases to address the issue.
Cardano (ADA) TVL recovering in July, data says
Over the past few months, I’ve noticed a significant decrease in the total value locked within Cardano (ADA). At its peak back in mid-March 2024, the figure stood impressively high at around $500 million. However, as I write this, the current value has dipped to approximately $222 million, according to DeFiLlama’s data.
Simultaneously, it saw a nearly 15% increase since hitting its lowest point about four weeks back. Approximately half of its total value locked (TVL) can be attributed to the combined efforts of Minswap, Indigo, and Liqwid protocols.
Currently, the value of Cardano (ADA) has dropped approximately 50% from its mid-March peak. At the moment of writing, a single unit is being traded for around $0.38, marking a decrease of 3.4% over the past day.
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2024-08-02 17:20