Cardano (ADA) has been dealing with a snowball for several months, especially since incorporating smart contract capability into its network.
Plutus, Cardano's smart contract platform (v1 and v2), contained 14,302 smart contracts. In the final months of 2023, there was an increase of 10,000 compared to the previous year.
Finbold data shows that this trend not only persisted but also increased in speed in January and February 2024, while the results were and continue to be excellent.
There were almost 5,000 new smart contracts in the first eleven days of February, which is half of the number in all of 2023. Compared to Plutus V1 scripts, which saw growth of 6,356 at the beginning of the month, Plutus V1 scripts Plutus V2 showed a growth of 18,859 at the end of the month.
V2 scripts increased by 5,037 to 23,896 as of February 11, while V1 scripts increased by 44 to 6,400. The overall smart contract count increased from 25,212 to 30,296, an increase of 20.17%. As part of its extensive research-driven strategy and emphasis on improving scalability and interoperability, Cardano has been tirelessly pushing for improvements, which which has led to a rise in hosted smart contracts and, by extension, the entire concept of hosted smart contracts.
This year, it plans to take these efforts to the next level by continuing to develop smart contracts through the Plutus tools team, updating ledgers and nodes, improving and maintaining the Cardano environment, and making broader improvements to the network, such as integrating boot pairs in an experiment. branch, among other things.
