u.today
Proof-of-stake (PoS) smart contract platform Cardano (ADA) scored a major reliability accomplishment. A community activist noticed that it managed to spend 2,500 days in mainnet operations, having no severe performance issues. Its total value locked (TVL) in DeFi is attempting to recover from an early-July drop to nine-month lows.
Cardano (ADA): 500 epochs, zero outages, community celebrating
Blockchain platform Cardano (ADA), one of the oldest proof-of-stake (PoS) networks, finished its 500th epoch without network outages. Such a milestone was noticed by Jaromír Tesař, blockchain expert and long-term Cardano (ADA) ambassador.
Cardano is currently in epoch 500. An epoch lasts 5 days. This means that #Cardano has been running for more than 2500 days without network interruptions and restarts.
— Cardano YOD₳ (@JaromirTesar) August 1, 2024
Given the fact that one Cardano (ADA) epoch roughly equals five days, it means that its transactions are running uninterupted for 2,500 days in a row.
Cardano (ADA) enthusiasts are celebrating this reliability accomplishment. At the same time, numerous skeptics are mocking the blockchain for tiny on-chain activity and pale price performance of its core native crypto, ADA.
In 2023-2024, a number of large blockchains were suffering from periodic network outages. For instance, Solana (SOL), another proof-of-stake (PoS) blockchain, was down for five hours in April this year.
Avalanche (AVAX) blockchain stopped block production for one hour on Feb. 23, as U.Today reported previously. Both networks implemented emergency fixes to their codebases.
Cardano (ADA) TVL recovering in July, data says
Meanwhile, the total value locked in Cardano (ADA) decreased in recent months. It peaked in mid-March 2024 at almost $500 million while, today, it sits at $222 million, DeFiLlama data says.
At the same time, it managed to add almost 15% compared to its many-month low, registered four weeks ago. Minswap, Indigo and Liqwid protocols combined are responsible for 50% of its aggregated TVL.
The Cardano (ADA) price is also down by 50% since mid-March. As of printing time, the asset is changing hands at $0.38, losing 3.4% in the last 24 hours.