Cardano Registers Transaction Record

Charles has yet again praised his creation Cardano (ADA), as it broke a new record in the market, registering more than 20 million transactions, without even breaking a sweat.

CEO of IOHK and Founder of Cardano, Charles Hoskinson highlights Cardano’s strength in the market, as he continues to promote it, while also dealing with industry critics. Charles mentioned that the blockchain network has been experiencing tons of innovative initiatives, especially the Initial Stake Pool Offering Infrastructure (ISPO).

ISPOs bringing Innovation

In short, Charles stated that ISPO is a new and innovative way to develop “support for a project”. To support this, Charles mentioned MELD, which is a DeFi-based banking protocol that is being developed on Cardano, that surprisingly managed to collect more than a billion dollars worth of staked ADA using the power of ISPO.

An ISPO is basically a way to conduct fundraisers on Cardano, in which owners of ADA can stake their tokens inside stake pools that are owned and protected by a group of individuals working on the project. The ADA representatives will then be offered tokens provided by the project, as the stake pool managers will utilize those ADA winnings in order to fund other projects on the network.

The core advantage of using this method is that when ADA is being staked for projects, the community can ultimately decide which project are to be developed, resulting in the increased stipulation of ADA, therefore promoting long-term investment opportunities.

New Transaction Volume Record

Besides ISPOs, Cardano has been experiencing great performance levels, as the project has managed to process more than 20 million transactions, without experiencing any sort of interruptions or setbacks, setting another record on the board.

Dealing with Critics

Charles has had a history of defending his precious creation from critics around the world. Hoskinson mentioned in a recent quoted tweet that Cardano is a “terrifying” project and there is no need for a sequel to it, in order to survive, because the design of Cardano has been implemented with “future proof” functionalities that will hopefully improve even further as time passes. Hoskinson specifically mentioned about the strengths of the Cardano community and how it is still the “most engaged community brick by brick”.