Cardano Has Seen A Rapid Rise With Over 5000 Smart Contracts Deployed 

Key Points:

• According to Cardano Blockchain Insights statistics, there were around 4,000 smart contracts on Cardano at the beginning of December, and this figure has since risen to over 5,000.
• The Cardano Foundation stated in January of this year that the network is still growing, with over 60.2 million transactions logged and over 7.66 million native tokens deployed.

As the Cardano network expanded and the cryptocurrency market rebounded, the number of smart contracts put on the network surpassed 5,000 for the first time.

According to Cardano Blockchain Insights statistics, there were around 4,000 smart contracts on Cardano at the beginning of December, and this figure has since risen to over 5,000. Notably, Plutus is a “smart contract platform of the Cardano blockchain” that allows users to “create apps that interface with this network“.

Following the successful completion of the long-awaited Alonzo hard fork in December of 2017, which integrated smart contracts into the network and made it possible for them to compete with other blockchains such as BNB chain, Ethereum, and Solana, the number of smart contracts on Cardano surpassed 1,000 in January of this year. This development came as a direct result of the implementation of the Alonzo hard fork.

In January of this year, the Foundation said that the network is still expanding, with more than 60.2 million transactions logged and more than 7.66 million native tokens distributed.

A positive target for ADA’s price in this month’s cryptocurrency market has been established by the crypto community in light of the previous promising signs. A little under 1,800 members of the community predict that the ADA price will be $0.45 by the end of February, which would represent a 15% rise from the current price of $0.39.

On the other hand, the community’s outlook for ADA by the end of May is far less optimistic, with an estimate of 0.3 USD.

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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