Cardano, the blockchain platform co-founded by Charles Hoskinson, has achieved a major milestone in 2024 with a remarkable surge in smart contracts. Recent data reveals that the Cardano blockchain has experienced an impressive growth of 9,671 new smart contracts in just 22 days, marking a 67% increase since January 1, 2024.
This outstanding achievement has not gone unnoticed, as Charles Hoskinson himself has acknowledged and emphasized its importance for the Cardano ecosystem. In response to a tweet from Cardano enthusiast Darren about the substantial increase in smart contracts, Hoskinson modestly acknowledged the accomplishment by stating, “So my prediction was true, but a little late.” This response highlights the profound significance of this achievement for the expanding Cardano ecosystem.
The growth in smart contracts on Cardano is truly impressive. As of January 22, 2024, the Cardano blockchain boasts 24,050 V1 and V2 Plutus smart contracts. This represents a significant surge from the 14,379 recorded on January 1, 2024. The addition of 9,671 smart contracts in just three weeks demonstrates the rapid growth and adoption of Cardano’s smart contract platform.
However, Cardano’s growth is not limited to smart contracts alone. According to Taptools, a wallet tracking platform, Cardano has witnessed a substantial increase in transaction volume. In the previous week, Cardano recorded transactions exceeding $34.33 billion, with values greater than $100,000. This surge in transaction volume reflects the growing interest and utilization of Cardano’s blockchain for various purposes.
The success of Cardano extends beyond smart contracts and transactions. Data from Cardano developer Input Output Global (IOG) reveals that as of the week ending January 19, 2024, 157 projects have been launched on the platform. Additionally, an impressive 1,319 projects are actively under development. This thriving ecosystem of Cardano-based initiatives and developers highlights the platform’s appeal for innovation and growth.
Despite these significant achievements and advancements, it is important to recognize that the valuation of ADA, Cardano’s native cryptocurrency, remains closely tied to overall market conditions. According to CoinGecko’s data, ADA has experienced a 5% decrease over the past week and a 21.1% decrease over the past thirty days. This price fluctuation emphasizes the influence of external market factors on the value of ADA.
