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Cardano Has One Project per Day Built on It with Total Number of 1,076

Fri, 09/02/2022 - 15:41
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Gamza Khanzadaev
Cardano averages one project per day built on it, according to these stats
Cardano Has One Project per Day Built on It with Total Number of 1,076
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According to the latest monthly report on Cardano-built projects, their number for August increased to 1,076. At the same time, according to the data, the number of new Cardano-built projects increased by 31, which implies that one new project appeared on the blockchain every day of August.

If you turn to the infographic, it is hard not to notice how much weight NFT projects have in this data. Cardano NFT, or CNFT, is a big market for blockchain and has managed to gain popularity among digital creators for a reason. The cheapness and speed of minting NFT on Cardano, coupled with the same perks that larger competitors have, make blockchain from Input Output an increasingly preferred choice. It has not gone unnoticed by the major celebrities either.

The second largest area of Cardano projects is "Community & Social," which is already more surprising. Drawing an analogy, one would think that Cardano attracts those projects that seek to reach as many people as possible.

The DeFi component in the Cardano-built family of projects is only 2.3% of 1,076, but if you take the broader concept of decentralized finance, with wallets, lending, oracles and stablecoins, the number is clearly higher.

Will trend of building on Cardano continue?

One project a day certainly sounds very nice, but it seems that in the crazy world of cryptocurrencies and blockchain, it is not a limit.

In favor of continuing the trend is the (possible) long-awaited release of Vasil hard fork in September, which should take Cardano to a new level and directly affect the attractiveness of the blockchain for developers.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.