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Cardano Milestone with 1,000 Smart Contracts

 


Cardano has reached a new milestone with a total of 1,000 smart contracts. This continues the excellent development of the network. Could 2022 be the year of the changing of the guard? Can Cardano break Ethereum's dominance?


Cardano reaches milestone: 1,000 smart contracts

Cardano has only been able to play smart contracts since September with the completion of the Alonzo update. Since this introduction of smart contract features, there has been an explosion of smart contracts at Cardano. The network's native smart contract platform is called Plutus.


The introduction of the function leads to an increasing load, the digital fill level on the blockchain. This has been rising steadily since then and is now at 90%. This means that the blockchain is now almost full of smart contracts. 


Basho update aims to increase scaling


The next step in the development of the Cardano blockchain is to increase scalability. With this, the network wants to dare an attack on fast blockchains such as Solana and Avalanche. This step is said to occur through the next development step, basho. With the increase in scalability, Cardano could take a quantum leap and become the most attractive blockchain on the market. The network has long been considered technically excellent and is being further developed according to scientific guidelines. With increased scalability, the blockchain would also become more economical.


Cardano could attack Ethereum

Cardano had earned the nickname “Ethereum killer” in recent years. This says that the blockchain has significant advantages over the Ethereum blockchain and can replace it from the top as a smart contract platform. The advantages include lower transaction fees and stronger security. 


The increase in smart contracts on Cardano shows the medium and long-term successes of the latest developments. These are independent of the price of the ADA token, which has recently been more dependent on the overall market situation and has therefore lost more. But in 2022, if the network continues to grow, it could increase again massively.


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