Since the implementation of smart contracts functionality on the Cardano network, more projects have been surfacing to launch on the proof-of-stake (PoS) blockchain. The significant upgrade to the Cardano network has given the ecosystem the means to grow and operate steadily like never before.
In recent months, the leading PoS blockchain project attained notable milestones, which contradicts the claims that Cardano is a ghost chain.
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Over 500 Projects Are Building On Cardano
According to a LinkedIn post by Tim Harrison, the Marketing and Communications Director at Input Output Global, as of 11th March, a total of 517 projects are being built on the Cardano blockchain.
As shared by Harrison, these projects include non-fungible tokens (NFTs) collections, decentralized finance (DeFi) lending, and new wallets.
Tim Harrison wrote:
“The Cardano ecosystem continues to grow, with now over 500 projects building on Cardano – from NFT collections to DeFi lending and new wallets. Props to all the IOG team that continues to drive the platform forward. It has been a remarkable journey to get to here. And kudos to the innovative, passionate community of builders that has brought this project so far. We’re really just getting started, you know.”
As shown in the chart shared by Harrison, NFT collections account for the largest share of the projects building on Cardano with 34.7%, followed by decentralized exchanges (DEXs) with 6.2%.
Read Also: CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation
Recall that Times Tabloid earlier reported that the number of NFTs minted on the Cardano blockchain has surpassed the 800,000 mark, Harrison’s recent report seemingly serving as proof of the significant height.
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