Canton Network Handles Record $350 Billion Transactions with 3.4 Update

Canton Network has successfully completed its 3.4 upgrade, a significant step in scaling its infrastructure to meet growing institutional and crypto-native adoption. The upgrade saw roughly 600 validator nodes transition to the new software, a sharp increase from the 200 nodes the network operated in July.

Remarkably, the rollout occurred with minimal downtime and a high first-attempt success rate, demonstrating the network’s operational reliability even amid rapid expansion.

With over $350 billion moving onchain daily, up roughly 25% since the last quarter, Canton Network is solidifying its role as foundational infrastructure for capital markets and payments. The upgrade focuses on performance, scalability, cost efficiency, and developer experience, aiming to support increased transaction throughput and a growing ecosystem of decentralized applications (dApps).

Faster Processing and Higher Throughput Achieved

The Canton 3.4 update accelerates the speed of the Global Synchronizer, which is the principal catalyst for network transactions. It enhances the speed of task completion and the associated transactions that can be processed in a given period, given the optimized sequencer and smart contract processing.

Validators will be able to process a higher transactions per second (TPS) throughput. The validators can enter the network with less computing capacity, and this will eliminate bottlenecks as the network grows.

The user on-boarding process has improved, making it possible to open multiple wallets concurrently without consuming many network resources. Programmers are provided with an estimate of what the cost of transactions will be before execution, making it possible to optimize the process and reduce the cost incurred by users.

The Super Validators contributed significantly to the upgrade. They collaborated to identify ways in which the roll-out process could be completed 50% faster than initially expected. Their approval and collaboration demonstrate the network’s commitment to functioning properly and growing.

Canton Network Upgrade Targets Institutional Needs

The upgrade of the Canton Network caters to the demands of large clients regarding privacy, fast processing, and integration of money operations. Now, money operations, moving collateral around, and stablecoin payments are done 24/7.

The top names in the sector spoke positively about the improvement. ByBit was pleased to note that its users remained online during a time when over 600 new nodes were rapidly introduced, indicating a mature decentralized network in Canton. Andrei Pshenkin of wallet provider Bron commented on what matters to his organization’s users.

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