In a tweet on the 30th of September, Hoskinson stated that the best part of wallet certification standards is that it will give a goal for catalyst funding. This, he said, will enable ADA holders to give grants to their favorite wallets to upgrade to a certified status to boost security, reliability, and performance.

Read Also: Charles Hoskinson: There’s No Going Back on Cardano Vasil Upgrade

Hoskinson believes that every member of the Cardano community will end up benefitting from the initiative.

Charles Hoskinson tweeted, “The best part of wallet certification standards is that it will give a goal for catalyst funding. Ada holders can give grants to their favorite wallets to upgrade to a certified status to improve security, reliability, and performance. It’s a win/win for everyone.”

The best part of wallet certification standards is that it will give a goal for catalyst funding. Ada holders can give grants to their favorite wallets to upgrade to a certified status to improve security, reliability, and performance. It's a win/win for everyone

— Charles Hoskinson (@IOHK_Charles) September 30, 2022

As expected, not all Cardano community members agreed with Hoskinson on this initiative. A supposed Cardano enthusiast, who reacted to the tweet said it will be better to focus on a good one since there are too many ADA wallets already.

In response to the user’s concern, Cardano creator said it’s good to have competition because it makes an ecosystem gets stronger.

Competition is good. It makes a strong ecosystem

— Charles Hoskinson (@IOHK_Charles) September 30, 2022

Read Also: Charles Hoskinson: Cardano Is Changing the World, Our Best Days Are Ahead Of Us

Meanwhile, the purpose of the newly proposed certification has been discussed in a recent video shared with the Cardano community. The idea is based on having certification standards to create the notion of certified wallets versus non-certified wallets.

In the video, Cardano founder was quoted as saying, “We hope to get rid of the notion of an official wallet altogether and instead have a certified wallet versus non-certified, and under the certification standards, you can put functional and non-functional requirements, including benchmarking and performance requirements for user experience.”

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This notable growth is based on new features and updates, including buyer interest as over 2,000 new wallets are being created on the network on a daily basis over the past month despite market volatility.

Read Also: Hoskinson Responds To Buterin’s Opinions On Ethereum: “It’s Not Too Late to Come to Cardano”

According to data from Cardano Blockchain Insights, on the 19th of April, there were 3,268,890 Cardano (ADA) holders compared to 3,339,101 on the 19th of May. This indicates the addition of 70,211 ADA addresses within a month and an average of 2,340 daily addition.

Moreover, Cardano whale transactions also hit a 4 month high as large players took advantage of the bear market to buy the dip. Data shows that Cardano whales’ activity started surging on May 12th after ADA price bottomed out at $0.40.

Cardano (ADA) Keeps Making Notable Marks

Notably, Cardano added over 70 smart contracts a week as more developers joined the blockchain. The leading PoS blockchain added 283 Plutus (a Cardano-based smart contracts platform) scripts, going from 2,400 on the 8th of April to 2,683 on the 8th of May 2022.

Read Also: Crypto Capital Ventures Founder Describes Cardano as the Most Sound, Secure, and Scalable Blockchain

Cardano is now preparing for the Vasil hard fork, which is scheduled to take place in June 2022. The major upgrade is specifically designed to expand the protocol and massively enhance its transaction throughput, including volume and liquidity.

At the time of filing this report, Cardano (ADA) is trading at $0.5244, with a relatively 1% price uptrend in the last 24 hours.

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As shown in a new report shared by CryptoCompare, the number of addresses holding Cardano surged to a new all-time high in April 2022 due to the increase in the number of holdlers that have kept their ADA untouched for more than a year.

Read Also: Charles Hoskinson: Cardano’s TVL Would Have surpassed $19 Billion If Staked Tokens Were Counted

The report reads in part:

“The number of addresses holding ADA grew 2.99% to an all-time high of 5.20 million in April. This includes an increase in the number of hodlers from 529,000 in March to 679,000 in April. Short term traders declined 44.6% to 377,000.” 

Cardano Github Commits Slightly Increased

Looking at Cardano’s developer statistics, the firm stated that the number of GitHub commits for the Cardano blockchain project has slightly increased from 5,623 in March to 5,723 in April while the total number of contributors remained stable at 111.

Although the number of addresses with an ADA balance continues to grow, CryptoCompare pointed out that user activity on Cardano is starting to lose steam.

Read Also: Fox Business Anchor Calls Cardano an Incredible Success Story during an Interview with Charles Hoskinson

“Activity on the Cardano blockchain experienced a significant hit in April. Monthly transactions fell 62.2% to 1.17 million, while average active addresses also fell 57.7% to 52,000. Average daily new addresses saw a similar decline of 59.1% to 23,200.”

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This notable increase was shared with the community a couple of hours ago by Cardano Foundation. The report indicates that the number of ADA wallets grew over 1200% year-over-year.

Read Also: Charles Hoskinson: We Aim To Make Cardano As Ubiquitous As Internet and Be Used By Billions

The growth also indicates that the adoption of Cardano since the implementation of smart contracts on the mainnet has been steady.

Happy Friday and Happy Christmas Eve! pic.twitter.com/VHyklCLaSE

— Cardano Foundation (@CardanoStiftung) December 24, 2021

Read Also: AdaSwap Launches Gamified Decentralized Exchange (DEX) On Cardano, Hints at Token Sale

Cardano (ADA) Price Massive Surge over the Year

According to available data, Cardano (ADA) has also recorded massive growth in terms of price. Cardano Foundation CEO Frederik Gregaard has a published blog post to back this fact.

In the blog post, Gregaard looked back and described 2021 as a year of incredible growth for the Cardano network and its native token ADA, which gained relatively 700% this year alone.

According to Gregaard, 2021 was a year in which the Cardano protocol managed sustained growth, technical innovation, community expansion, and partnerships, which aided its advancement. He also highlighted a number of on-chain developments, indicating a vast growth in terms of adoption.

Read Also: Cardano (ADA) Is Now a Payment Option for Payments Network Flexa at Over 40,000 Locations

The Cardano network has reportedly grown to have over 2.5 million native assets minted on it. This began on 1st March 2021 when the network gained the ability to mint native assets. Of these 2.5 million assets, 2 million are said to be non-fungible tokens (NFTs).

HUGE On Chain Growth in 2021! pic.twitter.com/SGzU14jabr

— Cardano Foundation (@CardanoStiftung) December 23, 2021

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The data provided by Pooltool, a Cardano data aggregator, proves that the ecosystem has been constantly growing in recent times.

Read Also: Crypto Capital Venture Founder: Cardano’s Current Trend Is Often a Great Bull Indicator

Cardano (ADA) Staking Addresses Gain Over 100,000 in 2 Months

According to Pooltool, on 10th November 2021, Cardano (ADA) staking addresses reached a total of 942,117 from 821,024 noted on 10th September 2021.

This implies that the platform gained 121,093 staking addresses, a 14.7% increase in the space of 2 months. An incredible growth indeed.

Moreover, the total amount of staked ADA stands at $53.6 billion, representing 72.17% of the cryptocurrency’s total supply.

Read Also: On Cardano Africa Tour, Hoskinson Meets Zanzibar President and Other Leaders to Discuss Blockchain Innovation

Cardano (ADA) Hits Over 2 Million Wallets

​​On 2nd November 2021, a notable milestone was also attained in the Cardano ecosystem. It was reported that ADA wallets hit over 2 million.

Cardano Community tweeted, “OVER 2 MILLION ADA WALLETS. It wasn’t long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million ada wallets!”

OVER 2 MILLION ADA WALLETS

It wasn't long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million #ada wallets!#Cardano #CardanoCommunity@F_Gregaard @IOHK_Charles @IOHKMedia @InputOutputHK pic.twitter.com/x40pri9tjN

— Cardano Community (@Cardano) November 1, 2021

This indicates that the fact that the ADA’s price has been trending sideways for the most part of the past weeks has not negatively impacted the growth of the ecosystem, since the previous milestone of 1 million wallets was attained on 22nd May 2021.

Read Also: Charles Hoskinson: Lots of New Technologies Will Be rolled out on Cardano in the Next 3 to 9 Months

It’s worth noting that since 3rd June 2021, Cardano has gained 333,726 wallets, an increase from 608,391 addresses, which is a remarkable 54.8% increase in five months.

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According to a tweet recently shared by the Cardano Community, the blockchain has witnessed a rise of the total number of ADA wallets to two million.

Read Also: Swiss-Based Exchange Lists ADA with Zero Fees, Cardano Foundation Says It’s a Milestone for Further Development

Cardano Community tweeted, “OVER 2 MILLION ADA WALLETS. It wasn’t long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million ADA wallets!”

OVER 2 MILLION ADA WALLETS

It wasn't long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million #ada wallets!#Cardano #CardanoCommunity@F_Gregaard @IOHK_Charles @IOHKMedia @InputOutputHK pic.twitter.com/x40pri9tjN

— Cardano Community (@Cardano) November 1, 2021

In late May 2021, Cardano (ADA) hit its previous all-time high of one million. On 1st January, the Cardano community had only 203,519 ADA wallets. This indicates that the number of ADA wallets surged by 5 folds within five months and has grown by another 1 million wallets between 23rd May and 2nd November 2021.

Read Also: Top Analyst Says Cardano (ADA) Has Bottomed Out and Ready for New Significant Uptrend

Meanwhile, the price of Cardano (ADA) surged massively to hit a new all-time high of $3.10 on 2nd September prior to the implementation of smart contracts on the Cardano network through the launch of Alonzo on the mainnet.

Cardano (ADA) Usage on the Increase

According to Altcoin Daily, a popular crypto news channel, Cardano (ADA) usage has been on a massive increase despite the current state of its price in the market.

Read Also: Charles Hoskinson Announces Partnership between Cardano and US-Based Fortune 500 Satellite Provider

Captioning illustrative images, Altcoin Daily tweeted, “Cardano ADA usage trending up!”

Cardano $ADA usage trending up! pic.twitter.com/mXOifpvChV

— Altcoin Daily (@AltcoinDailyio) October 31, 2021

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