Cardano-based smart contracts exceed 2,000 breakthrough
The Cardano (ADA) network received a major upgrade in September 2021 with the addition of smart contract functionality, allowing it to scale and perform faster than ever before.
Plutus (a Cardano-based smart contracts platform) has seen significant growth since its upgrade.
According to Cardano Blockchain Insights, the number of Plutus Scripts climbed by 489 between March 28 and March 30, when they were 1,671 and 2,160, respectively, meaning that the total number of smart contracts on Cardano has just surpassed 2,000.
by Cardano Blockchain Insights
On the Cardano blockchain, the graph depicts real-world Plutus-based smart contracts that are currently in use. These smart contracts went active on the blockchain on September 12, 2021, when the Alonzo update was deployed as part of the hard fork event.
What are the advantages of the update for Cardano?
On January 27, the total number of Plutus scripts on the Cardano network surpassed 1,000 for the first time.
The change is noteworthy because it lays the groundwork for constructing decentralized financial (DeFi) apps and makes ADA more programmable for the developer community.
Despite the Cardano ecosystem having experienced multiple significant network upgrades over time, the implementation of smart contracts in the Cardano environment was a watershed event.
The number of decentralized applications (dApps) linked to the network, as well as developer adoption of Cardano, are critical indicators of the blockchain's long-term viability.
Data indicates ADA soars before hard fork
Speculators will be looking for a rise during the Vasil hard fork, which is expected for June and which the Cardano team hopes would deliver a huge improvement to the platform's transaction throughput, as well as higher volume and liquidity, according to data.
Cardano is expected to trade at $1.35 by April 30, according to the crypto community. Yet, with ADA trading at just $1.13 at the time of writing, there is still a long way to go before it reaches that price.
Cardano launches Snoop Dogg's NFT collection
Snoop Dogg's non-fungible token (NFT) collection has been launched on the Cardano ($ADA) network. The collection includes "iconic artifacts," "limited edition 'pitches,'" and previously unreleased songs, as promised earlier this month.
The project has officially been unveiled, according to a tweet published by Clay Nation, an NFT project with which the rapper is cooperating.
Cardano-based NFTs from Snoop Dogg are being produced just as the cryptocurrency network reaches a new milestone. According to Morgan Schofield, Cardano's Head of Ecosystem Growth, the network has now produced over 4 million native tokens using approximately 50,000 minting policies. Cardano now has over 4 million non-fungible tokens and non-ADA tokens in circulation.
The NFTs were also launched following a meeting between Cardano founder Charles Hoskinson and Snoop Dogg in an "epic Twitter space" where music, NFTs, cryptoassets, and other topics were addressed.
First published on Apr 1, 2022