8 Transactions, 1600 Recipients at Just $2.38 Fees

In a single block, the Cardano blockchain processed eight transactions for 1,600 recipients with just $2.38 in fees.

This demonstration of scalability and affordability was highlighted by Charles Hoskinson, the creator of Cardano, when he reposted an X (formerly Twitter) post originally shared by Dedium, a Cardano-based decentralized GPU computing network. This showcases Cardano’s potential as a leading blockchain platform.

The block that processed the eight transactions reached 80 TPS without using Hydra, Cardano’s scaling project. This project fuels crypto investors’ optimism for the blockchain. One X user commented that with additional scaling, Cardano could achieve even higher TPS.

Cardano’s Upgrades: Hydra and Leios

For long, Cardano enthusiasts have been excited about the upcoming integration of Hydra and Leios – two major upgrades that could significantly reduce transaction costs and improve the blockchain’s scalability.

Hydra can execute transactions offline, potentially enabling millions of TPS in the future, an X user explained, adding that Leios will speed up block creation, resulting in faster transactions and eliminating slowdowns.

ADA Climbs Back to 10th Place

In line with the growing positive sentiment, ADA, the native token of the Cardano blockchain, returned to the tenth spot in market capitalization. CoinMarketCap data showed the altcoin with a market cap of $13.43 billion; at the time of writing, ADA has been trading at $0.3846, down 0.70% in the past 24 hours, but up 10.04% over the past seven days.

ADA reclaimed 10th place after a close race with Tron (TRX), currently the 11th-largest cryptocurrency by market cap. TRX is valued at $13.09 billion, not far behind ADA.