Cardano Significantly Expands its Blockchain Platform
Between April 8-May 8, it added 283 new smart contracts, i.e. an average of 70 new smart contracts a week.
The total number of projects powered by Cardano’s native token ADA now stands at 2,683, according to Cardano Blockchain Insights, which are gauged by Cardano Fans Stake Pool.
The graph below, which represents the smart contract per day ratio, shows the increasing number of projects since September 2021, when the smart contracts first went live on the network after the deployment of the Alonzo upgrade.
Source: datastudio.google.com
The company founded by Charles Hoskinson, who is also a co-founder of Ethereum, is already gearing up for a new hard fork event in June 2022 dubbed the Vasil hard fork. Its goal is to further scale up the platform, increasing volume and liquidity.
In April, Cardano also added 400 ADA-based new projects and close to 100,000 wallets in one month.
Despite significant progress, Cardano has taken a hit in the increasingly bearish market. In the past seven days, ADA plummeted 32.02%, with cryptocurrency exchanges like Coinbase reporting major losses in the first quarter.
In his recent tweet, Cardano’s founder Charles Hoskinson warned of a “dystopian future” due to hyperinflation and reckless issuance of money and said that the current market plunge is no different from the previous ones.
The show goes on. Web3 builders will continue to work on a better future for the world. Valuations should reflect the quality of life improvements crypto enables for countless around the world. Progress is the purpose and that work continues each and every day without fail. I believe in the resilience of web3 and crypto beyond any conceivable measure. I am not alone, some of the most brilliant minds on earth are with me. Together we will rebuild and emerge far stronger than before. Onwards,
he wrote in his tweet on May 11.
ADA is trading at $0.5301 press-time.
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