Cardano, a decentralised Proof-of-Stake (PoS) blockchain, experienced a network outage, according to information from its creators' Telegram channel. According to a tweet by Rick McCracken, the blackout was a brief one.
He tweeted – “Last night during the anomaly on the #Cardano network, the entire network did not go down. There was a brief period of degradation. Most nodes impacted had gracefully recovered. No network restart was required.”
Nodes were offline –
The Cardano developer continued, pointing out that while the nodes were affected, the Cardano network as a whole was spared. On the blockchain, the nodes are known to guarantee smooth transactions. Tom Stokes, the manager of Cardano's stake pool, pointed out that more over 50% of its nodes were impacted at the time.
In accordance with GitHub's daily development activity, Cardano was no longer the top project after the stoppage. At the time this article was written, Polkadot [DOT] had exceeded it, while Cardano was still in second place with a value of 91.
As of the start of 2023, Cardano (ADA) has seen significant growth. This can be attributed to the ongoing development and advancements of its network, as well as anticipation for upcoming launches that are expected to enhance the capabilities of its smart contract platform, positioning it as an "Ethereum killer."
Crypto influencer Dan Gambardello is optimistic about Cardano’s future in 2023, citing its developer activity as a key factor in expected gains. Also Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution. Hydra will improve the network security and increase its capacities to new heights.
Cardano a major competitor to Ethereum due to its proof-of-stake blockchain may boost in coming days, cardano price prediction for 2023 is to reach as high as $0.71 as per coinpedia. However, the fact that Cardano has passed the $0.25 mark suggests that it may experience a bull run in the near future.