After a boring 1st half of the year in terms of dApp performance, the Cardano community expects a better 2nd half of the year than the previous one.
The 1st half of 2022 has been boring for Cardano in terms of dApp performance, but the community is more optimistic and expects a better 2nd half of the year according to Tomiwabold Olajide on U Today.
Cardano’s IOHK recently announced increases in Plutus script memory, as Cardano sought to address the scaling difficulties it was facing in order to achieve the performance required to support real-world applications.
On the Twitter account @cardano_whale, we can read a recent post: “I’m an optimist. Ppl told me last year “H1 2022 before Vasil will be disastrous for Cardano bc of throughput issues, after that it’s sunshine & rainbows” and I was like nah, H1 will give us dapp after dapp, issues under the hood will frustrate but won’t slow momentum & good vibes.”
However, CPU and memory parameter improvements for Plutus remain one of the 11 ways Cardano intends to scale in 2022. Other paths include block size increases, pipeline, input backing, node upgrades, storage on disk, side chains, Layer 2 Hydra scaling solution, download calculation and the Mithril solution.
According to a blog post, IOHK previously stated that it intends to bundle several code releases that include key elements of its scaling plan, such as pipeline, new Plutus CIP and UTXO disk storage, and Hydra in June and October Vasil hard forks.
On this issue, @AggelosVasilop1, replying to @cardano_whale, posted that, “I strongly believe that now is the time during this bear market or sentiment for #cardano to distinguish for its technology/fundamentals compared to other projects and be ready through its hard forks and enhancements for a historic adoption @cardano for the future and beyond.”
The features mentioned above, when combined with parameter tweaks, are intended to increase Cardano’s performance and optimize the system to support a growing number of decentralized finance (DeFi), smart contract, and DEX applications.
Right now, six dApps are currently contributing to Cardano’s TVL of $129.96 million, according to data from DefiLlama. However, the number of dApps may not be a cause for concern, as TRON, currently the third-largest DeFi platform, has seven dApps contributing to its TVL of $6 billion.
Cardano Keeps Progressing
Cardano founder Charles Hoskinson recently shared a tweet showing a 369% increase in daily on-chain transfer volume for Cardano compared to other Blockchains, which saw significant declines in this regard.
In its latest weekly development update, IOHK shares network growth statistics. Currently, 992 projects are being built on Cardano, up from 986 previously. A total of 89 projects have recently been launched on Cardano, while the number of NFT projects has increased to 5,796. For the week, Github connections totaled 2,769, while native Cardano tokens stood at 4.9 million. Also, the number of writings of Plutus was 2,769.
Cardano is trading in the early hours of this Monday at $0.5708 and the location of the moving averages, the 70-period one below the 200-period one, would give us a bearish signal.
By Audy Castaneda
