Canto, the new heavyweight in the Cosmos ecosystem: A blockchain analysis

02/23/2023 07:23 • Metaverse & Beyond • 100 views

On February 23, according to the data of Artemis, a blockchain analysis company, the daily active address and transaction volume of the Cosmos ecological public chain Canto showed high fluctuations at the beginning of the year. As of February 3, the number of unique wallet addresses that sent at least one online transaction was about 27000, up 10965% from 244 on January 1. During the same period, the total number of daily transactions registered on the chain was 119000, up 4858% from 2400 on January 1.

The daily live address and transaction volume of Cosmos ecological public chain Canto decreased by 89% in February

Interpretation of the news:

The cosmos ecosystem has been experiencing high flux within the public blockchain chain with constant revisions and updates to improve its functionality. In February, according to the data from Artemis, a blockchain analysis company, Cosmos introduced the new heavyweight in the system, Canto. This new creation has shown high activity with fluctuating daily active addresses and transaction volumes.

As indicated from the data, Canto showed great potentials, having a reported number of 27,000 unique wallet addresses that sent at least one online transaction, a sure sign of an expanding user adoption. This number recorded a huge spike increase of about 10,965% from 244 unique addresses logged in the first day of January. This is a remarkable milestone by Canto within a period of just under two months.

Another feature, which indicates the level of activity that Canto has created within the ecosystem, is the transaction volume on the platform, which recorded 119,000 daily transactions. This number showed an astronomical increase of about 4,858% from merely 2,400 recorded transactions on January 1. This development signifies that Canto has become a hub of different activities within the ecosystem.

The constant upgrade and revision of the cosmos ecosystem have been very keen on the introduction of new functionalities and features that serve users’ needs. Canto has made considerable contributions in this direction, especially with regards to the functional and user-friendly interface.

In conclusion, the introduction of Canto into the cosmos ecosystem has created new opportunities, which users can benefit from. The blockchain architecture of Cosmos’s provision of interoperability through various chains and programmable blockchains has seen rapid expansion, and Canto’s introduction will only contribute to its appreciation. Canto’s outstanding numbers in daily active addresses and transaction volume indicate that it has become an indispensable part of the ecosystem.

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