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Blockchain News

Here’s how Cardano [ADA] has Responded to Brief Network Outage

Cardano [ADA], a decentralized Proof-of-Stake (PoS) blockchain, experienced a network outage, according to details from its developers’ telegram channel. According to Rick McCracken’s tweet, the blackout was brief.

The Cardano expert went on to say that the outage affected the nodes but did not bring the entire Cardano network down. The nodes are notable for ensuring smooth blockchain transactions. However, Cardano’s stake pool operator, Tom Stokes, stated that more than half of its nodes were affected during the period.

Cardano lost its position as the top project on GitHub’s daily development activity as a result of the stoppage. Polkadot [DOT] had exceeded it at the time of writing, although Cardano remained second with a value of 91.

Cardano’s on-chain development activity, according to Santiment, had improved marginally from 22 January. It was 85.67 at the time of publication. The development activity assesses a project’s commitment to network improvement. Cardano has not been shy about the importance of constantly upgrading its ecosystem. As a result, the worth of development activities corresponded with its constant proclamation.

Santiment data showed that ADA’s velocity had dropped to 2.08. The measure shows how frequently a token moves wallets on a daily basis. As a result, fewer ADA tokens have been in circulation since this decreased.

Meanwhile, the Cardano community expressed delight at the swift response. Cardano is one among several protocols affected by a blockchain node outage.

This was not the case with the Solana [SOL] instances, which required several hours to be resurrected by developers.

Furthermore, Adaverse data revealed that Cardano had topped 3.8 million ADA wallets. The Cardano and Ergo real-time update provider also stated that participation in the chain’s AI marketplace, SingularityNET, surged by 276% in January alone.

As spectacular as that appeared to be, it struggled to reflect on its NFT trade volume. Despite significant gains during the month, the volume at press time was 477,000. This figure, however, was higher than the previous three days.

Cardano’s founder, Charles Hoskinson, had made no comments on the topic at the time of writing. ADA, on the other hand, was trading at $0.378—a 1.11% decline in the previous 24 hours.

 

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