IOG Reveals Cardano Latest Update Amid Soaring Network Activity

Input Output Global (IOG) publishes its latest weekly development update, highlighting impressive performance from Cardano and progress made by the different teams within the ecosystem. 

According to the latest report, Cardano witnessed significant growth across different metrics, including total transactions, native tokens, and token policies. 

Every Friday, we publish our weekly #Cardano development update.

So for the lowdown on what IOG's dev team has been working on last week, head on over and take a look👇https://t.co/ep0CGSPm1p

— Input Output (@InputOutputHK) July 5, 2024

Cardano Witness Growth in Network Activity 

Cardano now boasts a total transaction of 93.3M, up 0.43% from last week’s record of 92.9M. Additionally, the number of native tokens within the Cardano ecosystem has increased by 40,000 over the past week to 10.17M. 

Furthermore, Cardano’s token policies rose from 136,594 to 141,712 in one week, marking a 7-day increase of 3.74%. Meanwhile, the report indicates that Cardano saw the addition of only one new project over the past week, bringing the number of projects building on the network to 1,365. 

Also, 2,970 Plutus scripts were added to the Cardano network this week. This increased the total figure to 64,248 at the time of the update.

Although the IOG did not highlight Cardano’s total value locked (TVL) last week, the latest stat shows that the assets locked on the network were around $547.7 million. 

Latest Development Update 

Besides Cardano’s impressive network activity, the IOG team provided insight into the team’s development efforts this week. 

In particular, the core technology team released v.8.12.2 of the Cardano node to improve bootstrap peer networking. Also, the Ledger team continued to focus on constraint generator testing, updates to Alonzo UTXO specifications, and conformance test plumbing. This team also improved the Conway era safety and resilience this week.  

Further, the Lace team released a new upgrade for its wallet, giving users an enhanced crypto storage experience. Regarding Scaling, the Mithril team made significant progress in certifying Cardano transactions on its network. The progress includes identifying and fixing bugs, as well as supporting Cardano node v.8.12. 

Regarding Catalyst, IOG revealed that Town Hall 169 premiered this week. It featured ongoing governance developments, with all issues relating to the voting app resolved. 

Lastly, the Education team continued its preparation for the upcoming Cardano development course, which is scheduled to be held next month in Buenos Aires, Argentina. They also worked on the educational content for Mastering Cardano and Voltaire.