The recent data shows that the number of smart contracts on the platform has just surpassed 3,000 for the first time.

According to data acquired by TimesTabloid from Cardano Blockchain Insights, the number of smart contracts on Cardano surpassed 3,000 on the 1st of August 2022. The data as of the time of filing this report, which was last updated on the 2nd of August, shows that the number has risen to 3,015.

According to data acquired by TimesTabloid from Cardano Blockchain Insights, the number of smart contracts on Cardano surpassed 3,000 on the 1st of August 2022. The data as of the time of filing this report, which was last updated on the 2nd of August, shows that the number has risen to 3,015.

Charles Hoskinson Explains Reason for Vasil Upgrade’s Delay

As earlier reported by TimesTabloid, Charles Hoskinson, the creator of Cardano (ADA), has explained the major reason behind the delay in the implementation of the much-anticipated Vasil hard fork.

In a video update about two days ago, Hoskinson noted that the delay is caused by some bugs that need to be fixed before the upgrade can be successful.

Recall that the community expected the upgrade to go live at the end of July, but later delayed for more weeks. According to Cardano creator, Vasil development is currently in its final testing phase. So, except something new is discovered, there shouldn’t be delays anymore.

“The good news is that the set of things that could go wrong have gotten so small, and now we’re kind of in the final stages of testing in that respect. So unless anything new is discovered, I don’t anticipate that we’ll have any further delays…

“Things are moving in the right direction steadily and systematically and I just wanted to give you guys an update that it’s all well in hand this is the nature of these types of upgrades,” Charles Hoskinson said.

Hoskinson added that the team of developers at IOG is currently working to fix the discovered bugs and the result has been positive.

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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.

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The optimization is expected to increase the block size from the current size of 72KB to 80KB, which is approximately an 11% increase.

Read Also: Cardano-Based DEX ADAX Goes Live On the Mainnet, Plans Djed Stablecoin Integration

This implies that Cardano blockchain will gain more capacity to facilitate the increasing transactions as the network expects more projects to launch on the mainnet in the coming days and months.

It can be recalled that the blockchain load surged above 90% in January, which was attributed to the launch of the decentralized exchange (DEX) SundaeSwap. The experience then called for an urgent need for the network’s boost in scalability.

According to the data provided by Cardano Blockchain Insights, as of 1st February, nearly all blocks were full, with the average load remaining above 85%.

Read Also: CryptoCompare: Number of Addresses Holding Cardano (ADA) Hit All-Time High of 4 Million in December

IOG team highlighted the importance of the optimization in a series of tweets as shared below:

“NETWORK UPDATE: Today, we have proposed the next parameter update as we continue to increase Cardano network capacity in line with the plan. The proposal will increase block size by a further 8KB taking it from 72KB to 80KB.

“This latest adjustment represents an increase of c. 11%. In addition, an update proposal has also today been triggered to increase Plutus script memory units per transaction on the Cardano mainnet from the current 12.5M to 14M – an increase of 1.5M.

“The increases to block size and memory units will both take effect at the boundary of epoch 319 on 4 Feb at 21:44:51 UTC and are in line with our announced plan to scale and optimize Cardano network throughput.

“Together, these enhancements will provide additional resources for Plutus scripts to improve DApp user experience while increasing overall network capacity.

“This adjustment forms part of a planned series of network optimizations. Cardano will continue to be steadily optimized in a series of measured steps this year, carefully & methodically scaling Cardano for future growth as demand increases.”

Read Also: Metaverse Makes Entry into Cardano Blockchain with Pavia Launch

Cardano Adds Over 100 Smart Contracts in Just Two Days

As a report has it, between 30th January and 1st February, the number of smart contracts on the Cardano network increased by 116, bringing the total number on the network to 1,127 as of 1st February.

As shown on the chart above, it’s important to note that the number of smart contracts on Plutus climbed steadily, until they reached the 1,000 mark, after which it recorded its largest rise ever.

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According to the data provided by Cardano Blockchain Insights, the number of Plutus-based smart contracts surpassed the 1000 mark on 27th January 2022. At the time of writing, the number stands at 1003.

Read Also: Cardano Becoming Leader in Climate Impact: 1 Million Trees Now Planted and Recorded On Cardano Blockchain

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.

Read Also: Charles Hoskinson Highlights What Is Next As Cardano Launches Smart Contracts

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.

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.

On 22nd January, it was reported that the Cardano network’s average blockchain load hit an all-time high of 94.49%. This huge rise is attributed to the recent rollouts, especially the launch of decentralized exchange (DEX) SundaeSwap on 20th January 2022.

Read Also: Cardano-Based DEX SundaeSwap Completes Security Audit, Identified Issues Resolved

Charles Hoskinson, the founder of Cardano had earlier said he believes projects like Cardano will be as ubiquitous as the internet and used by billions in the future.

In 2021, Cardano network notably led the crypto market in terms of developer activity, leading stern rivals such as Ethereum, Kusama, Polkadot, among others.

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According to the data released by Cardano Foundation, the number of Plutus-based smart contracts is increasing rapidly and approaching 1,000. As of 8th December 2021, the number has hit a milestone of 888.

Read Also: Charles Hoskinson on the Possibility of a Partnership between Amazon and Cardano

Cardano Foundation tweeted, “Significant increase in the number of Plutus based smart contracts on the Cardano blockchain.”

Significant increase in the number of Plutus based #smartcontracts on the Cardano blockchain. pic.twitter.com/DCJZsDthQ0

— Cardano Foundation (@CardanoStiftung) December 8, 2021

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

Read Also: Charles Hoskinson: Vitalik Buterin Is Working with a Momentum That Can Make Things Happen

So, the rapid increase in the number of smart contracts on Cardano is an indication that Plutus is gaining much-needed popularity among developers. The new development comes at the time Cardano Foundation disclosed that 800 projects that intend to use the network had applied for $4 million worth of funding in September.

Charles Hoskinson: 2022 Will Be a Fun Year for Cardano

Back in November, Charles Hoskinson, the CEO of IOG, stated that 2022 will be fun for Cardano because it’s a year about optimizing throughput and connecting sidechains on the blockchain.

According to the mathematician, many Cardano critics fail to see Ouroboros as a protocol family with solutions to hard problems.

Read Also: Cardano-Based Decentralized Exchange, SundaeSwap, Announces Date for Testnet Launch

In a tweet on 20th November, Charles Hoskinson wrote, “What people don’t get about Ouroboros is that it’s a protocol family that already has the hard stuff figured out. 2022 is about optimizing throughput and connecting sidechains. It’s not theory. It’s just code from pipelining to input endorsers. It’s going to be a fun year.”

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There have been numerous reports related to hacking in the past and it’s likely for the menace to continue as the crypto ecosystem strives to grow into maturity.

Read Also: Cardano Creator to Anthony Pompliano: Ethereum (ETH) Is Better Than Bitcoin (BTC)

The most recent notable attack in the crypto ecosystem was that of PolyNetwork, where a hacker took advantage of the vulnerability of the platform to steal relatively $600 million worth of various cryptocurrencies, especially Ethereum.

Cardano’s Smart Contracts Not out of Hackers’ Reach

In the recent ask-me-anything (AMA) session, Cardano creator, Charles Hoskinson pointed out that smart contracts don’t have resistance against a potential hack since anything that is written or built has the tendency to be broken.

However, Hoskinson stated that the adoption of certified software on the network will exponentially mitigate the consistent occurrence of such likely events.

Read Also: Cardano (ADA) Displaces Binance Coin (BNB), Becomes 3rd Largest Crypto on CoinGecko

Charles Hoskinson noted:

“If you have a specification and a certain development methodology and tooling, what you can do or an outside auditor can do is prove that implementation follows that specification, and that specification can be well-tested and well-understood…If you do that, your chance of a hack goes down exponentially.”

Cardano and Plutus Are Designed To Achieve High Assurance

In the course of the AMA, the CEO of IOG explained that Cardano and Plutus, which is the blockchain’s smart contracts platform are specifically designed to achieve high assurance in terms of security.

Read Also: CryptoCapitalVenture Founder: Cardano (ADA) Will Outperform Top 10 Cryptos over the Next 6 Months

However, he intensified the fact that users have to be cautious as they navigate through software they come across. This implies that not all software in the crypto ecosystem can be trusted. He thereby urged users to be very smart.

Hoskinson further warned the Cardano community members of many websites that are currently impersonating Daedalus wallet.

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The post What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network appeared first on Times Tabloid.

This upgrade is one of the most anticipated developments in the cryptocurrency ecosystem. As it is widely known, this hard fork will give users the room to run smart contracts on Cardano, which is currently the largest proof of stake (PoS) blockchain.

Read Also: Cardano Creator Proposes Rally in Washington In Support Of Crypto Following Senators’ Failure

According to Cardano’s head of delivery, Nigel Hemsley, engineering and test teams are putting their efforts together to make the hard fork combinator event a success.

The Joining To Alonzo Hard Fork

For the time being as reported by U.Today, partners will continue to work on their respective decentralized applications (DApps), which are written in Plutus programming language.

At the end of the Purple phase, as stated by the head of delivery at IOG, Cardano will end up with relatively 500 members that are currently working on the network.

Hemsley added that the software firm, IOG, will have its final mainnet candidate released for the node Plutus Core.

Also, the report says that Cardano testnet has been scheduled for hard fork on 1st September to make the team see its performance in a production environment.

Read Also: Cardano Founder Suggests What Could Prevent the US Anti-Crypto Infrastructure Bill

According to Hemsley, all the events mentioned above are vital for the successful deployment of Alonzo hard fork.

Nigel Hemsley noted:

“As we come up toward this hard fork, we will deliver the Plutus capability, a full toolbox of smart contract capability, and then we’ll start it right from there. It gives us the foundation to build on Cardano…We’ll have more and more dApps and other innovations coming out shortly afterwards.”

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The post The Date Smart Contracts Will Start Running On Cardano Has Been Announced appeared first on Times Tabloid.

According to the latest information shared on Twitter by Input Output Global (IOG), Alonzo Purple, the first public testnet to support smart contract on Cardano has been successfully launched.

Read Also: Cardano (ADA) To Finally Be Listed On a Japanese Crypto Exchange

IOG, in a series of tweets on 6th August, stated that this the development marks significant progress in the rollout of smart contracts on the Cardano mainnet, expected to launch by early September.

IOG announced:

“ALONZO UPDATE: We’re delighted to announce that we have now successfully spun up Alonzo Purple and have today begun the new user onboarding process.

“This is an exciting and important next step in the Alonzo journey. In fact, the Cardano journey. With the support of our OG community testers on the Blue & White phases, Alonzo Purple will be the first fully public Cardano testnet to support smart contracts.

“It’s an important moment, marking significant progress in the rollout of smart contracts on the Cardano mainnet which is targeted for the end of August/early September.”

Read Also: Charles Hoskinson Dismisses Technical Analysis That Claims Cardano (ADA) Price Is Set To Crash

Strong Test Team Invited

According to the report, over 150 strong test team has now been invited to join the new Alonzo Purple network and a new Discord channel.

Additionally, the invitation has also been extended to 300 graduates from the Plutus Pioneer program, the IOG developers’ education course where thousands of developers are trained to code Plutus smart contracts.

The report added:

“Once the initial Alonzo Purple team has been successfully onboarded (kick-off call Monday), we’ll hard fork the network and open Alonzo Purple to any developer who wishes to join.

“We have already been engaging with a number of exchanges on Alonzo White. With Alonzo Purple we’ll broaden this further, adding more exchanges. This integration work – being driven by a Cardano Foundation integration team led by Mel – is crucial to success.

“We want to ensure as many exchanges as possible are ‘Alonzo HF-ready’ when we hard fork the network, to ensure that their customers maintain uninterrupted deposit/withdrawal access to their ada and do not have to wait for this to be sorted out afterwards.”

Read Also: CryptoCapitalVenture Founder Says Cardano Will Eventually Flip Ethereum, Benjamin Cowen Has A Bit Different Opinion

However, the report stated that there is still a very long way to go in the development, but Alonzo is progressing as expected:

“So Alonzo progress is very good. We still have a way to go. We expect more bugs and may yet encounter bumps in the road. That is what a testnet is for. And there is still plenty of integration, testing and ongoing optimization to go.

“But we’re on track and feeling good. And we have an incredible Cardano behind us, alongside us and cheering us on And a truly exciting future, just around the corner.”

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The post Cardano Launches Alonzo Purple, the First Public Testnet to Support Smart Contracts appeared first on Times Tabloid.

Despite the relentlessness of the team of developers at IOG to make this happen and a lot of proofs to show for it, critics still believe that the team can’t deliver as promised.

Read Also: Charles Hoskinson: Cardano on the Cusp of Adding Support for Web and Mobile Integration

A Bet on Whether Cardano Would Deliver As Promised

A platform has currently launched a bet on whether Cardano would implement smart contracts before 1st October 2021.

The title of the bet says, “Will Cardano support smart contracts on mainnet before October 1st, 2021?.” The two odds “Yes or No” provided are very close currently. And a lot of critics continue to bet against Cardano with their hard-earned money.

Recently, one of the Cardano critics called the attention of the CEO of IOG, Charles Hoskinson. The critic said he’s sure that Cardano will fail to deliver as promised. However, Hoskinson sees this as a test to push the crypto project to its success.

Read Also: Bitrue to Become the First Crypto Exchange to List Cardano-Based Tokens

The user tweeted, “I’ve found free money on Polymarket. There is no chance ADA will have a functioning smart contract on mainnet in 2021. Charles Hoskinson especially mentioned this bet and made fun of it. Surely he will ignore it when this bet resolves and ”No” betters get their rewards.

I've found free money on Polymarket

There is no chance $ADA will have a functioning smart contract on mainnet in 2021. Charles Hoskinson especially mentioned this bet and made fun of it. Surely he will ignore it when this bet resolves and ''No'' betters get their rewards. pic.twitter.com/nOfCZU1yWl

— S. Z. Tanyel, MD, DDS (@tanybro) July 24, 2021

“Charles Hoskinson will most likely completely clone another working POS chain and call it an update of ADA and decorate it with fact-bending theses to make it look like it evolved from the current github.” He added.

Next Two Months Are Going To Be Fun for Cardano

As expected, Charles Hoskinson did not leave the critic without a response. He used the opportunity to reassure the community, stating that the roadmap to the implementation of smart contracts functionality on Cardano has not changed.

Read Also: Charles Hoskinson Stresses the Uniqueness of Djed, Cardano’s Upcoming Algorithmic Stablecoin

He said critics will continue to throw their usual jibes, but the next two months will be fun for the Cardano ecosystem.

Charles Hoskinson tweeted, “It’s amazing how delusional some people are. This is honestly the level cardano critics are at now. Next two months are going to be fun. Expect a lot of meltdowns and temper tantrums from the paint chip brigade.”

It's amazing how delusional some people are. This is honestly the level cardano critics are at now. Next two months are going to be fun. Expect a lot of meltdowns and temper tantrums from the paint chip brigade https://t.co/5d8b1wJEk3

— Charles Hoskinson (@IOHK_Charles) July 24, 2021

Read Also: Benjamin Cowen Stresses Why Cardano Has Better Marketing Compared to Other Chains

Meanwhile, Cardano has advanced from Alonzo Blue to Alonzo White, bringing the network closer to the smart contracts era.

After the White phase, Alonzo is expected to go fully public, which is dubbed Alonzo Purple. In this phase, Alonzo will become available to all stake pool operators (SPOs) and pioneers.

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The new development was shared a couple of hours ago via the official Twitter handle of Input Output Global (IOG), the software firm behind the development of Cardano (ADA).

Read Also: Cardano Foundation Partners With Rwanda-Based NGO to Launch ADA Charity Platform

According to the report, the Alonzo testnet has been successfully forked to the new Alonzo White node, stating that the new network is already making blocks as expected.

IOG tweeted, “HARD FORK SUCCESSFUL: Delighted to report around 19.44 UTC today we successfully forked the Alonzo testnet to the new Alonzo White node. The new network is happily making blocks already.”

HARD FORK SUCCESSFUL: Delighted to report around 19.44 UTC today we successfully forked the #Alonzo testnet to the new #AlonzoWhite node. The new network is happily making blocks already. 1/5

— Input Output (@InputOutputHK) July 14, 2021

This has been regarded as a great development by the Cardano community members that expect the emerging smart contract platform to start challenging the stern rival, Ethereum, in a couple of months’ time.

In the thread of tweets, IOG pointed out that the way is getting clearing for the much-awaited Goguen era, which is expected to usher in smart contracts functionality on Cardano.

Read Also: Cardano Foundation Mints World’s First NFTA on Cardano to Celebrate Newly Launched Developer Portal

IOG stated:

“Over the past week, we have spun up a new network and onboarded our new intake ready to help us move us closer to smart contracts. Now the next stage of the journey begins.

“As well as our core SPO group, we’re now joined by members of the Project Catalyst crew and more Plutus partners. Plus a few more Pioneers to move us forward before opening up further. You can hear more about the journey in our mid-month update – landing Friday.

“We’ll monitor the new network closely over the next 24 hours while continuing to do further QA work on the node tonight. We’ll then review any feedback/results tomorrow and start addressing any required fixes. We expect a number of updates as we add features to Alonzo White.

“Thanks as ever to all our Alonzo testnet volunteers helping us on the journey to Cardano smart contracts! Onwards!”

Read Also: Charles Hoskinson: There Are Thousands of Assets and Over $10M of NFTs Have Been Sold On Cardano

What to Expect After Alonzo White Phase

Alonzo is expected to go fully public after the White phase, which is known as Alonzo Purple. This implies that it will become available to all stake pool operators (SPOs) and pioneers.

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