Cardano Has Over 900 Projects Building on It

According to its developer, Input Output, the Cardano network already has over 900 projects on it, as well as a number of advances on the cryptocurrency’s blockchain. The introduction of an ERC-20 converter and the launch of WingRiders are two among them.

The number of projects built on Cardano “goes up day by day,” according to a tweet Input Output published with its over 250,000 followers on the microblogging network Twitter.

According to a website tracking the platform’s ecosystem, the projects building on top of it include a number of non-fungible token (NFT) marketplaces, metaverse projects, gaming applications, decentralized exchanges, lending protocols, oracles, and stablecoin issuers.

Since the Alonzo hard fork added smart contracts, letting it to compete with blockchains like Ethereum, BNB Chain, and Solana, the cryptocurrency’s network has been continually rising. According to Cardano’s founder Charles Hoskinson, the planned Vasil hard fork is likely to deliver a “massive performance improvement.”

As previously reported, the number of wallets generated on the Cardano blockchain has surpassed 500,000 so far this year, with 453,000 wallets established in the first quarter alone.

The number of wallets on the cryptocurrency network is rapidly increasing. Last year, it increased by 1,200% year over year, from 190,000 ADA wallets in December 2020 to 2.5 million in December 2021. Some celebrities have backed Cardano-based projects, notably American rapper Snoop Dogg, who launched an NFT collection with unreleased tracks. 

Notably, according to CryptoCompare’s latest Asset Report, the price of Cardano’s native currency ADA broke a six-month losing streak by ending the month with a positive return of 18.4%

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