Number of Cardano-Based Smart Contracts Surpasses 2,000 for First Time Ever

Alonzo, the significant upgrade that implemented the smart contracts functionality on the Cardano blockchain, has been bringing the expected results since mainnet launch. The upgrade is currently boosting the blockchain to challenge its biggest rivals in the industry, Such as Ethereum and Solana.

According to the data provided by Cardano Blockchain Insights, the number of Plutus-based smart contracts surpassed the 2000 mark for the first time ever on 30th March 2022. At the time of writing, the number stands at 2,316.

Read Also: ADA Whale Mentions Projects That Will Send Cardano Total Value Locked (TVL) Flying Once They Launch

As shared on the platform, Plutus Scripts’ graph represents real Plutus-based smart contracts on the Cardano blockchain, which was introduced as part of the Alonzo mainnet launch.

The launch of Alonzo that brought about smart contracts in September 2021 gave Cardano blockchain the ability to offer decentralized finance (DeFi) applications development platform.

The Alonzo hard fork is part of the network’s Goguen era named after Joseph Goguen, an American professor of computer science from the University of California and the University of Oxford. The Goguen era succeeds the Shelley era, in which the Cardano network became decentralized and community members became validators.

Read Also: Grayscale Launches Smart Contracts Platform Fund for Cardano, Solana, Polkadot, Avalanche, Stellar

So, the rapid increase in the number of smart contracts on Cardano is an indication that Plutus is gaining much-needed popularity among developers.

Obviously, the implementation of smart contracts functionality on the Cardano has massively increased its network activity. New projects are launching, while more are expected to go live on the blockchain as we advance into 2022.

Follow us on Twitter, Facebook, Telegram, and Google News