Cardano ($ADA) developer Input Output has proposed increasing the network’s block size by 10% from 80 KB to 88 KB per block as the network load has been holding above the 80% mark in a bid to “increase throughput and DApp performance.”
According to a series of tweets published by Input Output the move has already taken effect and represent a “significant network enhancement” that will help increase transaction throughput and the performance of decentralized applications built on top of the cryptocurrency’s network.
Per IO, it’s the “latest in a series of planned network optimizations” the developer is making to continue scaling Cardano throughout the year.
The developer is now set to monitor network performance for the duration of one epoch – five days – to determine “the next increment.” Cardano, IO wrote, has seen “phenomenal growth in recent months, with performance improvements to match.”
As CryptoGlobe reported, Cardano now has over 900 projects building on it and has made numerous developments over the last few months, which include the launch of an ERC-20 converter.
The number of wallets being created within the Cardano blockchain has already grown by over 500,000 so far this year, with 453,000 of those wallets being created in the first quarter.
According to Kraken’s March 2022 crypto on-chain digest, on-chain indicators are suggesting “prospects are bright” for Cardano’s ADA as demand for it has been growing over time. Kraken’s report details ADA’s transaction fees have risen “about 51.5% from $0.33/tx [transaction] year-to-date.”
Per Kraken, transaction fees “are a proxy for network demand” and while “blockchain demand is beginning to rise after taking a hiatus this year,” Cardano is in the lead. Cardano’s upcoming Vail hard fork is set to, according to Cardano’s founder Charles Hoskinson, deliver “a massive performance improvement.”
Input Output added that as the Cardano ecosystem grows, it’s focused on “delivering the scaling phase of our roadmap” and “improving speed and network capacity while maintaining security and decentralization.”
It’s worth noting Cardano’s block size rose 11% back in February, from 72 KB per block to 80 KB per block after a proposal was made by Input Output.
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