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Cardano Celebrates More Than 1,000 Actively Developed Projects on Network

Tue, 07/26/2022 - 12:10
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Arman Shirinyan
Cardano's growth pace remains at extremely high level despite crisis on cryptocurrency market
Cardano Celebrates More Than 1,000 Actively Developed Projects on Network
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According to the Essential Cardano website that constantly tracks updates around the Cardano network and key metrics of the blockchain, the number of actively developed applications in the ecosystem has reached 1,040, in addition to a variety of other stats that we are going to cover.

Rising number of scripts and applications

The most notable statistics shown on Essential Cardano's infographic is the number of currently developed solutions and applications on Cardano and a spike in the number of Plutus scripts.

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Two metrics are strongly correlated, as developers are constantly using the smart contract technology to bring new functions to their applications. With the Vasil hard fork, it is possible to onboard dApps on Cardano and add brand new functions to them.

Besides the large number of projects that are currently being developed, developers launched almost 100 brand new projects on Cardano last week. This is a big milestone for the network that introduced smart contracts technology less than a year ago.

Cardano NFTs on the rise

The biggest rise in the ecosystem is tied to the number of NFT projects on Cardano that saw a massive increase of 6,304 new projects. Thanks to relatively low fees, fast transaction processing and a relatively uncrowded market, Cardano attracts more artists every day that create new collections and NFT-related projects.

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Cardano ‌remains one of the most actively developed networks in the whole cryptocurrency industry, with over 2,500 Github commits in the last week alone. Such a rich development process mainly affects Cardano's fundamental value, which, unfortunately, is not projected in ADA's market performance.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.