In a significant milestone for Cardano, the blockchain platform has successfully reached 10 million blocks, highlighting its robustness and growing presence in the cryptocurrency space. This achievement, announced via a tweet by X user Stakewithpride, underscores Cardano’s steady advancement in the industry.
The 10th million Cardano block will be in 16 hours. 🔥 #Cardano $ADA https://t.co/As0W605zUC
— St₳kΣ with Pride 🌈 (@StakeWithPride) February 29, 2024
Blockchain Milestone Reached
As of the latest data from Cardano explorer Adastat, the total number of blocks on the Cardano network stands at an impressive 10,000,224. Blocks, which consist of confirmed batches of transactions stored on a blockchain, are integral to the functioning and security of any blockchain network.
Distinct Features of Cardano
Distinguished by its utilization of the Extended Unspent Transaction Output (EUTXO) mechanism, introduced with the Alonzo upgrade, Cardano offers a unique approach to handling multi-assets and smart contracts. Powered by the Ouroboros consensus protocol, Cardano operates on a proof-of-stake model, with stake pools selected to create new blocks based on their network stake.
Market Sentiment and Performance
Cardano’s milestone comes amidst a backdrop of bullish sentiment in the broader cryptocurrency market. With Bitcoin and other major cryptocurrencies reaching new highs, Cardano’s native token ADA has also experienced notable gains, briefly touching $0.70, a level last seen in May 2022.
Despite a slight dip in trading value, ADA remains resilient, trading around $0.68 at the time of writing, according to CoinMarketCap. The platform’s surge in activity and innovation further bolsters its position, with recent reports indicating significant transfers of ERG tokens to Cardano, highlighting growing interest and adoption.
As it continues to evolve and expand its ecosystem, the achievement of 10 million blocks marks a milestone worth celebrating. With ongoing developments and community-driven initiatives, Cardano remains poised to make further strides in the cryptocurrency landscape, solidifying its position as a key player in the decentralized finance (DeFi) realm.
