In September 2021, the Cardano (ADA) network received a major upgrade that included the implementation of smart contract capabilities, allowing the network to scale at a faster rate than ever before.
A number of key network milestones have recently been reached, as blockchain development has accelerated as a result of the update. Simultaneously, Cardano anticipates another wave of advancements with the Vasil Hard Fork on June 29, 2022.
As of April 18, there are over 900 projects being built on ADA, implying that the blockchain network has added nearly 400 new projects to its network in just over a month.
Tweeted Input Output:
“As of today, nearly 900 projects are #BuildingOnCardano And this number goes up day by day.”
It's worth noting that MKT57 reported last month that Tim Harrison, Marketing and Communications Director at Input Output Global, revealed 517 projects were being built on ADA.
Cardano network expansion
On the platform, projects such as non-fungible tokens (NFTs) collections, DeFi lending, and new wallets are being developed.
In terms of NFTs, hip-hop artist Snoop Dogg announced that he is re-establishing his presence in the cryptocurrency industry. His most recent partnership is with Clay Nation, which will launch an NFT collection on the Cardano blockchain.
In addition, data obtained by MKT57 on April 18 revealed that the network added nearly 100,000 wallets to its network in a month between March 17 and April 17, just before the ERC-20 converter launched, with Cardano founder Charles Hoskinson; later adding 'just getting started.'
Notably, the number of ADA wallets has risen to well over 3,360,761 as of April, having passed the 3 million wallet mark earlier this year.
DISCLAIMER
The author's or anyone else's views or opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading in crypto assets carries a financial risk.
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