Cardano (ADA) Overview

Cardano (ADA) has positioned itself as a developer-friendly blockchain ecosystem. The increasing adoption of its smart contracts, known as Plutus, is critical for evaluating Cardano’s long-term potential.

Smart Contract Adoption

As of the start of the year, Cardano had the following counts of Plutus scripts:
– Plutus V1: 6,877
– Plutus V2: 106,464
– Plutus V3: 44,444
Total: 113,786 scripts

On March 25, the numbers changed as follows:
– Plutus V1: 6,949
– Plutus V2: 120,494
– Plutus V3: Significant increase
Overall Total: 129,637 smart contracts, marking an increase of 15,851 from the start of the year.

Impact of Plutus V3 Update

The Plutus V3 update has provided advanced interaction capabilities and enhanced security, leading to reduced development costs. Cardano’s strategy to attract developers seeking cost-effective solutions across various domains—including decentralized finance (DeFi), non-fungible tokens (NFT), and decentralized applications (DApps)—is proving successful.

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