- As the number of smart contracts on the Cardano blockchain grows, so do the transactions which have exceeded 30 million transactions processed in total.
- The number of smart contracts on Cardano has grown by close to a million since September.
In recent months, the concept of “Ethereum killer” has become fashionable, a term that refers to those networks that seek to dethrone the creation of Vitalik Buterin. There are many who apply, although the vast majority are still far from being able to do so.
The money that moves in Ethereum is much greater than what happens in the others, although Cardano achieved a milestone that could make it tremble…
Smart Contracts Power Cardano
From September 2021, With the arrival of the Alonzo update and the possibility of processing smart contracts, the number of smart contracts that are executed in said blockchain grew exponentially. and now this ecosystem It has already exceeded 30 million transactions processed. This number is a huge mark within the crypto world as it means that more and more users are deciding to move around Cardano.
According to data from CryptoSlateat the end of January the number of smart contracts reached 1,000, and this, of course, contributed to the integration of more use.
Cardano Growth
Once these data have been shown, those of Ethereum should also be analyzed. How close are they to each other? At the same distance as the Earth from the moon: very far. The number of smart contracts on Ethereum peaked in June 2021 with 2.5 million implemented that month alone.
Currently the figure does not fall below one million and operates in 30 days, which would take Cardano decades. However, the milestone of the blockchain founded in 2017 suggests that the gap between the two will narrow. The low commissions it delivers can be an incentive to position itself in the market.
The 30 million transactions is not the only figure that impacts within the Cardano ecosystem, which according to Google Data Studiohas an estimated 200,000 daily active addresses on the network. It is also worth noting that the number of own wallets exceeded 1.1 million. The only thing that fell a little, albeit slowly, is the ADA in staking, which also exceeds 70% of the total circulating.
For its part, decentralized finance (DeFi) within the Cardano network has also shown an evolution with the arrival of the DEX SundaeSwap and MuesliSwap. The total value locked (TVL) is $111 million, with 97.43% of that money in SundaeSwap.
ADA Rating
At the moment, the price of the token does not accompany this good news and is just above the dollar ($1.03 at the time of writing). The maximum peak was in September, hovering around $3 dollars a unit, down 66% since then. It came to position itself as the third largest in the world to be in seventh place today, behind Bitcoin, Ethereum, Tether, Binance Coin, USD Coin and Ripple.
Whether Cardano will finally be the Ethereum killer remains to be seen, but its evolution in all the factors mentioned does denote a growth of the network, which adds the adoption of more and more users. If it was believed that ADA had gone out of fashion, today the situation is quite the opposite.
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