Cardano, a decentralized network built for programmable assets and decentralized applications, currently have over 900 projects building on it as of April 18, 2022.
In September 2021, the Cardano (ADA) network had a significant upgrade that incorporated smart contract features, allowing the network to scale at a quicker rate than ever before. As a result of the update, several critical network milestones have been recently achieved, and the blockchain development has accelerated. Simultaneously, Cardano anticipates another round of developments on June 29, 2022, with the Vasil Hard Fork.
Over 900 projects are being built on the ADA blockchain network, implying that the blockchain has added approximately 400 new projects in just over a month. A tweet from Input Outpu confirmed this:
Cardano’s network is expanding
Cardano is constantly expanding its offerings and forming new collaborations, and as a result, it is frequently in the headlines. The Cardano developers have demonstrated remarkable ability in building their network and promoting its acceptance internationally; this dedication can be attributed to the network’s rapid growth.
According to data obtained by MKT57 on April 18, the network added approximately 100,000 wallets to its network in a month between March 17 and April 17, just before the ERC-20 converter was announced, with Cardano founder Charles Hoskinson later adding, “just getting started”. As of April 2022, the number of ADA wallets has surpassed 3,360,761, surpassing the 3 million wallet mark earlier this year.
Projects like non-fungible tokens (NFTs) collections, DeFi loans, and new wallets are being developed on the platform.
In addition to various project owners launching NFTs on the Cardano network, hip-hop superstar Snoop Dogg has stated that he is re-entering the cryptocurrency market. Snoop Dogg and Clay Nation, his most recent collaborator, will launch an NFT collection on the Cardano blockchain.
