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Cardano hits 5 fold increment in new project building in its ecosystem

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Cardano hits 5 fold increment in new project building in its ecosystem 2

This year Cardano showed rapid growth in terms of new project development in its ecosystem because of the smart contract feature. And this growth is five times more than any other crypto project.

Cardano is a popular crypto blockchain network, which is known as an Ethereum rival. This crypto blockchain network operates on Proof-of-stake consensus, which is a modern model of crypto network. At present, Cardano is preparing to go through Vasil Hardfork, to bring huge efficiency & scalability to the network with additional features.

After completion of Alonzo Hardfork’s post-development work in late December 2021, a total of 94 projects have been launched in Cardano smart contract blockchain ecosystem. At present, a total of 1,093 projects building development work is going on, while the number of Plutus scripts stood at 3,196.

This rapid development of new projects in the smart contract ecosystem is around 5 times more than any other crypto project, thanks to Alonzo Hardfork.

Alonzo Hardfork

Alonzo Hardfork was the crucial Hardfork of the Cardano blockchain, which introduced a smart contract feature in the Cardano Blockchain successfully in September 2021. 

However, it took a very long time for the team to introduce the smart contract feature but overall it resulted in a better outcome, which is focusing on real-level development works instead of trend-based temporary works.

Now, in this time frame, IOHK, the developer team behind the Cardano blockchain, is working to introduce Vasil Hardfork to bring the ability for the Developers to integrate new features into the Cardano Blockchain.

After the successful Introduction of Vasil Hardfork, the team will introduce the Hydra protocol to allow the Cardano network to facilitate transactions at 1 million TPS scalability.

Read also: Car producer Ford will create virtual cars in Metaverse

Cardano hits 5 fold increment in new project building in its ecosystem

 

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