Charles Hoskinson, the creator of Cardano, the largest proof-of-stake blockchain, has hinted at a wave of projects that will flock into the Cardano network once Vasil hardfork is activated in June 2022.
Hoskinson said this in reaction to the update about the massive growth of projects being built on the Cardano blockchain.
A Large Wave of Projects Is Coming To Cardano
In a LinkedIn post, Tim Harrison, the Marketing and Communications Director at Input Output Global, stated that as of 11th March, a total of 517 projects are building on the Cardano blockchain.
Reacting to the steady increase of projects building on Cardano, as shared on Twitter by Dr. Schweta, Hoskinson said many projects will emerge after the implementation of Vasil hardfork in June. This indicates that what is seen now is small compared to what is preparing to emerge in the Cardano ecosystem.
Charles Hoskinson wrote, “Moving the chains. A large wave will come after June when the Vasil hardfork happens.”
Moving the chains. A large wave will come after June when the Vasil hardfork happens https://t.co/TySPIBLQLi
— Charles Hoskinson (@IOHK_Charles) March 14, 2022
As shown in the chart shared by Dr. Schweta, NFT collections account for the largest share of the projects building on Cardano with 34.7%, followed by decentralized exchanges (DEXs) with 6.2%.
What Is Cardano’s Vasil Hardfork?
The Vasil hardfork, named after Hungarian mathematician Vasil Daboy, who was a Cardano community member and had a notable impact on Hoskinson’s work, is scheduled to go live in June.
According to Cardano’s creator, Vasil hardfork will apply many of the Plutus adjustments proposed by parties such as the CDA.
Once this hardfork goes live, vital projects like light wallets and other decentralized applications can proceed.
Cardano’s total value locked (TVL), has also been rapidly growing. The price of Cardano (ADA) is expected to appreciate in the market as more decentralized applications and protocols are released on the platform.