Introducing The Canton Network Series, a five-part exploration of the Canton Network’s evolution as privacy-first infrastructure for institutions in digital assets.
The Tie Research
The Canton Network Series [Part 4 of 5]
By Hari Iyer
October 22, 2025
In Part 4: State of the Network, we examine how Canton has moved from foundation-building to institutional-scale activity. The report presents data across key dimensions of network health, including transaction growth, validator participation, token economics, and user adoption, providing a complete view of how Canton’s architecture is scaling in production.
Key Insights from the Report
- Transaction Growth and Utility: Canton now processes more than 600,000 transactions per day, showing a clear shift from pilot applications to active institutional usage across payments, tokenization, and data workflows.
- Validator Participation: The validator set has grown from 24 at launch to over 575, reflecting increasing participation from financial institutions, infrastructure providers, and technology firms that contribute to network operations and governance.
- Ecosystem Expansion: The Canton ecosystem now includes leading institutions across both TradFi and crypto, including Goldman Sachs, HSBC, and BNP Paribas alongside Circle, Ledger, and Chainlink, connecting tokenized assets, custody, analytics, and payments within one network.
- Token Economics: The Canton Coin’s burn and mint ratio continues to move toward equilibrium, indicating growing organic activity and a maturing reward model that aligns long-term incentives across participants.
- User Adoption: Wallet growth has surpassed 28,000, driven primarily by institutional accounts and active treasury operations, highlighting genuine network engagement rather than speculative activity.
To explore how Canton’s privacy-first design is scaling into real institutional infrastructure, download the full report below.
Read previous parts of The Canton Network Series:
We’ve also designed a public dashboard for Canton, that offers visibility into how Canton Coin is used to pay fees, reward participants, and power network utility, and much more.
By tracking real-time metrics, users can monitor supply, transaction activity, validator participation, and application performance. Check it out here: https://canton.thetie.io/
This report is for informational purposes only and is not investment or trading advice. The views and opinions expressed in this report are exclusively those of the author, and do not necessarily reflect the views or positions of The Tie Inc. The author may be holding the cryptocurrencies or using the strategies mentioned in this report. You are fully responsible for any decisions you make; the Tie Inc. is not liable for any loss or damage caused by reliance on information provided. For investment advice, please consult a registered investment advisor. The Tie Inc. provides services to Digital Asset (US) Corp. In addition, The Tie Inc. operates as a founding super validator of the Canton Network and as such is eligible to mint and hold Canton Coin rewards based on the utility it provides to the Canton Network and its participant
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