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Blockchain

The Number Of Cardano Smart Contracts Has Quadrupled Since The Beginning Of 2022

November 27, 2022 - Around 1 mins mins to read
The number of smart contracts on the Cardano network has increased significantly since the beginning of this year.
The Number Of Cardano Smart Contracts Has Quadrupled Since The Beginning Of 2022

As of November 26, the total number of smart contracts running on Plutus, the blockchain smart contracts platform, was 3,791. According to Cardano Blockchain Insights, the value has increased by 400% after registering 947 smart contracts on January 1.

The Number Of Cardano Smart Contracts Has Quadrupled Since The Beginning Of 2022
Cardano Plutus smart contracts. Source: Cardano Blockchain Insights

The team recently focused on improving script capacity, the Plutus Debugger MVP, as well as finishing the inclusion of full Babbage support in the Plutus tools before their release.

Cardano has also created the Plutus dApp developer resource website. The new feature seeks to teach newcomers about decentralized apps (DApps), while developers may learn how to construct dApps with Plutus smart contracts.

All of the above factors contribute to the tremendous growth of smart contracts on the blockchain network.

At the time of writing, ADA is trading at $0.3177.

The Number Of Cardano Smart Contracts Has Quadrupled Since The Beginning Of 2022
ADA daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.