Cardano secures 1,000 new smart contracts in less than 5 months

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The developer’s activities in the Cardano smart contract environment seem very high and it surged more rapidly after the launch of Djed stablecoin.

Cardano is a popular Proof-of-stake (PoS) highly scalable blockchain network. The engineering team behind this Crypto blockchain network is dedicated to pushing the use case & enhancing the potential ability of the blockchain. 

This year, so far to date, Cardano smart contract ecosystem saw the deployment of 1,000 new Plutus V1 smart contracts, which is itself a very big number over any other smart contract enabled platform. 

On 1 Jan, there were nearly 4,718 Plutus V1 scripts but to this date Cardano has 5,771 Plutus V1 scripts. 

Plutus V1 Scripts (smart contracts) on the Cardano network. Source: Cardano Blockchain Insights

This milestone achieved by this PoS crypto network showed that its blockchain is still at the top of the race for decentralised finance innovations. 

Just a week ago, the Cardano network saw a rapid increment in the network users citing high gas fees on the top crypto networks  Ethereum & Bitcoin. 

At the time, the Cardano network was processing crypto transactions at 95%+ potential. According to Cardano Devs, there are potential chances that the Cardano network may face congestion issues if further no network scalability & efficiency work will done. 

Ada price action

Ada is a native coin of the Cardano blockchain and the current trade price of the ADA coin is $0.3693. This trade price is 2% down over the last 24 hours. 

Read also: Surging crypto frauds is the potential reason behind debanking Binance Australia

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