Key Takeaways
As per Cardano’s blockchain insights, the total number of smart contracts deployed on this blockchain network has increased by over 100%
Cardano is a Proof-of-Stake blockchain that emerged as an alternative to Proof-of-Work blockchain networks
Plutus is a smart contract platform that enables the users of Cardano to interact with the main blockchain network
Times when the blockchain industry is undergoing a hard-hitting bear market.
Even though building in times of extreme panic is not easy, Cardano’s community has worked tirelessly to make it a reality. As per Cardano’s blockchain insights, the total number of smart contracts deployed on this blockchain network has increased by over 100%.
Cardano is a Proof-of-Stake blockchain that emerged as an alternative to Proof-of-Work blockchain networks, making transactions faster and more energy efficient.
Exactly a year back, the total number of smart contracts deployed on the Cardano blockchain network was 947. This number spiked as anything to reach close to 3810 smart contracts live on the blockchain.
These metrics showcase the total number of Plutus scripts-based smart contracts. Plutus is a smart contract platform that enables the users of Cardano to interact with the main blockchain network. Cardano’s Alonzo hard fork has enabled the network to multiply the total number of smart contracts on the platform. The Plutus framework update has enabled the Cardano developers to add extra lines of scripts and make it at par with other blockchains such as Solana, BNB, and ETH.
Cardano is one of the most cost-efficient blockchains in the world and is known for its efficiency in its operations. This when coupled with the efforts that the team is making to make it more relevant to the users is becoming the reason behind its increasing popularity.
The number of smart contracts on the blockchain network is going to increase in the times to come and it would not be surprising to witness Cardano’s smart contract count crossing 5000 within the next few months.
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