Cardano’s largest NFT marketplace, the JPG store reaches a new milestone

The JPG store, the largest NFT marketplace for Cardano, has tweeted about a recent community achievement. This occurs as the Cardano NFT market gains momentum. In addition, the Cardano network is experiencing increasing network activity, with over 30,000 wallets being added in the previous week. 

The Cardano community is excited and full of anticipation. Charles Hoskinson, the founder of Cardano, announced that he would be making a special announcement in November that he had been working on for the previous four years. 

The Voltaire era will soon arrive on Cardano, allowing the network to demonstrate to the sector “how to execute decentralized governance,” in the words of Cardano’s founder. Cardano’s roadmap states that Voltaire will mark the start of the blockchain network’s development into a “fully decentralized” one. The five phases of Cardano’s plan are Byron, Shelley, Goguen, Basho, and Voltaire.

This quarter, trade volume on Cardano’s main NFT marketplace increased by 40%, hitting $11.2 million on the platform alone. However, none of the top 10 marketplaces listed by DappRadar support Cardano NFTs, which makes them inaccessible to anybody outside the network of that blockchain.

The Byron phase was Cardano’s initial iteration, enabling users to purchase and sell ADA on a federated network powered by Ouroboros Classic. Two native Cardano wallets were also made available during this phase: Yoroi, a lightweight wallet from EMURGO for everyday usage, and Daedalus, the official desktop wallets of IOG for ETH and ADA.

IOG, a Cardano developer, announced in a blog post that it is working with Obsidian Systems to advance the creation of use cases based on the Hydra Head protocol, such as the Hydra for Payments initiative. One of the foundational elements of Cardano’s Layer 2 scaling journey is the Hydra family of protocols. The first of these protocols is the Hydra Head.

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