Cardano Lands Smart Contracts, Nearing 1000

• 72 projects were added by Plutus, a smart contract platform based on Cardano, increasing the total count which nears 1000.
• Plutus is rapidly growing its popularity among the devs, which came after the revelation that over 800 projects were targeting to utilize the network.
• As of this writing, ADA was down by 3.72% in the previous 24 hours and was standing at the market value of $1.27.

Over 70 Latest Projects

Cardano network has seen a record escalation in the growth of the platform. With the latest smart contracts, elements continue to lure more devs. 

Between 13 December 2021 to 13 January 2022, Plutus-based smart contracts have seen a surge, as the platform has added a total of 72 projects, increasing the count from 897 to 969.

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The surge in the total smart contracts on the network of Cardano verifies the notion that the network will probably surface as the prime rival of Ethereum, which is dominating the market after Bitcoin. 

The upgrade regarding the smart contract was allowed during the upgrade of Alonzo in September, meaning programmability and a platform for developing applications of decentralized finance could be offered by the Cardano ecosystem. 

Therefore, the milestone achieved by Cardano lately, points out that popularity is being gained by Plutus rapidly amongst the devs. This came after the revelation was made that over 800 projects are looking forward to utilizing the network of Cardano and funding with $4 million had been applied.

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Initially, devs associated with Cardano Input Output HK made a revelation that while the upgrade was being made, courses of Plutus Pioneer were also in operation for the devs.

As per a blog post, Thousands of Devs were participating in the course of Plutus Pioneering, gaining knowledge regarding the native development framework of the ADA ecosystem. Project’s scores have already begun to develop in the Cardano-based platform Plutus, and are at numerous phases of readiness and prowess.

It is noteworthy that though many betterments have been carried out by Cardano on the network, the capability regarding smart contracts was a game-changer for the whole ecosystem.

However, the progress majorly relies upon adoption by the devs and the total amount of decentralized applications, combined into the network of Cardano.

Amidst the development, it was acknowledged by Cardano, that the devs and users, must expect some breakers over the road, especially in the starting phases.

Influence on the Cardano Price

A constant network development is anticipated to play a part in the determination of the shift in the price on indigenous token ADA, in the future.

For example, a major community has made a forecast regarding the price in ADA, and will probably rally to $2.4 by 2022’s end.

As the article was being written, the native coin of Cardano, ADA, was controlled by the bears and was down by 3.72% with the trending price of $1.27.

The Crypto market is volatile, please make your investments by DYOR.