Categories: Market

200 smart contracts on Cardano … but there is a catch

After the Alonzo upgrade on September 13th, over 200 intelligent contracts were listed on the Cardano blockchain explorer – but there is a catch.

The 200 listed intelligent contracts are in timelock and can only be used by developers once published.

The Vercel app currently has over 2,200 intelligent contracts.

Smart contracts have been a long-awaited feature of Cardano since its launch in 2017, and the functionality was finally activated with the recent Alonzo hard fork.

Charles Hoskinson, the founder of Cardano and IOHK, said on September 17th that the DeFi area was “ready to take” as Cardano supports smart contracts.

Hoskinson says DeFi “second wave” winners will have liquidity and interoperability, multi-chain portability, and cost predictability. “We need governance, we need certification, we need insurance, we need regulation of these things, identification of metadata … you also need to decentralize,” he added:

“The way we built Cardano was for the second wave.”

Some notable projects have smart contracts in timelock or plan to start soon.

$ GREED, a reward token that redistributes $ ADA to holders, Liquid, an open-source and unattended liquidity protocol for yield curves; SingularityNET, a platform that allows anyone to create, share, and monetize AI services on a large scale; and Cardax, DEX First on Cardano.

Related: Selling Messages? ADA price drops 10% after Cardano launched the long-awaited smart contract

Cardano will be a backward-compatible Ethereum Virtual Machine (EVM) and hopefully appeal to DeFi developers looking to save money on transaction fees.

Cardano’s price has been up 170% since mid-July, but it’s now about 20% below its all-time high of $ 3.09 earlier in the month. ADA is currently trading at around $ 2.42.

.

.

CoinX

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

4 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

34 minutes ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

2 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.