Cardano, a renowned platform in the cryptocurrency space, has been making strides towards innovation and growth. Recently, Cardano enthusiast Chris O shared impactful statistics, highlighting the significant evolution of the network between January 13, 2023 and January 12, 2024. This period witnessed a significant increase in user engagement, adoption and functionality.
Impressively, the Cardano network processed 82.8 million transactions over the last year. This number represents a considerable increase of 24.1 million compared to the previous year, which recorded 58.7 million transactions. This growth is a direct reflection of the diversification of Cardano’s use, enhanced by the network’s continuous updates, which improve its functionality.
#Cardano fam, here’s your weekly update.
Wanted to compare YoY growth! In one year @Cardano has added:
*44 projects have gone live
*1.9 million tokens
*14,581 Plutus V2 scripts ‼️
*24.1 MILLION transactions ‼️
Incredible growth & activity for a 👻
Chain 😜 pic.twitter.com/gyQPr3lz7U
— Chris O (@TheOCcryptobro) January 12, 2024
At the time of publication, the price of ADA was quoted at US$0.5462, down 1% in the last 24 hours.
In this article, we will discuss:
Vasil: A Key Booster
The Vasil update, which took place in September 2022, was a milestone for Cardano. This update introduced an improved version of the Plutus v2 scripting language, as well as significant improvements in on-chain script management, resulting in reduced costs and increased script throughput.
Ecosystem Growth and Native Tokens
The Cardano ecosystem has also seen robust growth, with the launch of 44 new projects, bringing the total to 156. This development underlines the platform’s appeal to developers and entrepreneurs looking to innovate in the crypto space.
In terms of native tokens, Cardano recorded an increase of 1.9 million, reaching an impressive total of 9.4 million. This growth indicates the growing diversity of digital assets available on the network.
The Expansion of Plutus Scripts v2
With the Vasil update, there was a significant increase in the number of Plutus v2 scripts, a jump of 14,851. These scripts are fundamental to the execution of smart contracts, and this increase signals the expansion of the utility and adoption of smart contract capabilities on Cardano.
2024: A Year of Great Expectations
Entering 2024, Cardano remains on a trajectory of growth and innovation. With planned updates and new features, including the long-awaited Chang hard fork, the platform is gearing up for a promising year. This hard fork will mark the beginning of Cardano’s governance model.
According to recent reports from IOG, the first few months of 2024 will be marked by important milestones in Cardano’s governance, including the publication of an interim constitution and the establishment of technical barriers during the initial Voltaire phase, setting the stage for a constitutional convention at the end. of the year.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.