Cardano (ADA) Wallets Created Hits All-Time High

The total number of wallets created on the Cardano network has reached a new milestone. Despite the further delay of the anticipated Vasil upgrade, the entire ADA wallets in existence have surpassed 3.5 million. ADA delegators on the blockchain are increasing simultaneously.

According to the updated data collected from Cardano Blockchain Insights on August 4 by Timestabloid, wallets created on one of the largest smart contracts platforms, Cardano, have hit an all-time high. 

At the time of writing, the total number of wallets on the Cardano network is 3,502,500. While the total number of ADA delegators on the chain is 1,172,839. Data shows that in the last two months, over 1500 wallets were created daily.

Meanwhile, the number of smart contracts on the platform exceeded 3,000 for the first time on August 1. At the time of press, as seen on the Cardano Blockchain Insights platform, the number has reached 3024.

Cardano Blockchain Grows

Cardano blockchain continues to grow bigger as its adoption rate increases among players in the crypto industry and other entities.

This growing adoption rate of the 8th largest cryptocurrency project by market capitalization could be attributed to the stable and scalable state of the platform. 

Read Also: Cardano (ADA) Reigns As the Most Developed Asset in Crypto Industry –Santiment

Unlike the Solana blockchain which has recorded multiple outages this year alone and other security issues, Cardano has operated for about five years without any case of a network outage. Over 5000 Solana wallets have been drained in a recent hack case.

The legal custodians of Cardano, Input Output Global (IOG), tasked with the development of the smart contract platform, have been working on making Cardano a more scalable and interoperable network. 

However, the Cardano Vasil upgrade has met several postponements and holdups. In response, the CEO of Input Output Global, Charles Hoskinson noted that the elements causing the Vasil upgrade to be delayed are considerably small.

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