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Cardano Reaches 5,000 Smart Contracts on Its Network

The Cardano (ADA) network underwent a substantial upgrade in September 2021, incorporating smart contract functionality and enabling the blockchain to process transactions more efficiently and at a faster pace. Despite a decline in the price of Cardano in 2022, the network’s development continued to grow through 2023.

In particular, the Vasil hard fork in September paved the way for the rapid development of Plutus Scripts, a Cardano-based smart contracts platform. Interestingly the number of smart contracts on the Cardano network reached 4,000 on December 3, and just two months on, that number has climbed to reach 5,000, as per data retrieved by Finbold from Cardano Blockchain Insights.

The number of smart contracts created using Plutus and presently running on the Cardano as of February 3 reached 5,006. 

(By Jordan Major)

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