With 10 million total blocks, Cardano, the eighth-largest cryptocurrency by market value, has accomplished a significant milestone.
X user Stakewithpride said in a tweet on February 29 that Cardano would shortly surpass its 10 millionth block. This was supposed to happen on March 1st.
According to statistics from Cardano explorer Adastat, the total number of blocks on the Cardano network has hit 10,000,224, marking the achievement of this milestone. On a blockchain, blocks are collections of verified transactions that are kept together.
Unlike account-based blockchains like Ethereum, Cardano is an unspent Transaction Output (UTXO) blockchain that employs a distinct accounting mechanism for its ledger, similar to Bitcoin.
https://x.com/StakeWithPride/status/1763311675359580444?s=20
Cardano handles multi-assets and smart contracts via an Extended Unspent Transaction Output (EUTXO) method that was introduced with the Alonzo update.
The first blockchain protocol founded on peer-reviewed research, Ouroboros is the consensus protocol for Cardano, a proof-of-stake system. Based on the stakes that each member in the stake pool controls on the network, Ouroboros chooses which players to include in fresh block creation.
The 10-million-block milestone for Cardano comes at a time when the cryptocurrency industry is feeling optimistic due to fresh highs for major cryptocurrencies like Bitcoin. The native cryptocurrency of Cardano, ADA, has also done well, rising to highs of $0.70 last seen in May 2022 before falling.
According to CoinMarketCap, ADA was down 1.11% at around $0.68 at the time of writing.
On its platform, Cardano has witnessed a spike in activity and creativity, which has helped to hit the milestone of 10 million blocks. Ergo recently tweeted that 624,000 ERG, or 0.85% of the total quantity in circulation, has been transferred to Cardano.
