{"id":571422,"date":"2024-01-25T21:00:25","date_gmt":"2024-01-25T21:00:25","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=571422"},"modified":"2024-01-25T11:22:21","modified_gmt":"2024-01-25T11:22:21","slug":"cardano-smart-contracts-10000","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/cardano\/cardano-smart-contracts-10000\/","title":{"rendered":"Cardano Defies Bear Market As Smart Contracts Count Sees 10,000 Explosion"},"content":{"rendered":"

The Cardano network<\/span><\/a> continues to defy expectations and <\/span>prove its doubters wrong<\/span><\/a>. This time, the network has hit a new milestone, which suggests that users are indeed taking advantage of <\/span>its smart contract functionality<\/span><\/a>.\u00a0<\/span><\/p>\n

Cardano Sees Significant Increase In Smart Contract Usage<\/h2>\n

Data<\/span><\/a> from Cardano Blockchain Insights has revealed an increase in the usage of Cardano\u2019s <\/span>Plutus V1 and V2 scripts<\/span><\/a>. As of January 22, 24,050 smart contracts had been executed using these Plutus scripts. This is impressive, considering that this figure stood at 14,379 at the beginning of this year.<\/span><\/p>\n

Related Reading: Bitcoin Repayments: Mt Gox Starts Verifying Addresses For 200,000 BTC In Payouts<\/a><\/div>\n

This recent increase can be traced back to January 9, when smart contract usage on the network really began to pick up. Specifically, the number of smart contracts executed on Cardano using the <\/span>Plutus V2 scripts<\/span><\/a> rose from 8,270 to 12,890 on that day. Since then, that figure has skyrocketed to 17,718.\u00a0<\/span><\/p>\n

As expected, the Plutus v2 script is more widely used than its V1 counterpart, considering that the former is a newer generation of Cardano\u2019s smart contract scripting language. <\/span>Cardano introduced Plutus V2<\/span><\/a> to reduce user costs and enhance script throughput effectively. Meanwhile, this development no doubt further proves naysayers wrong.\u00a0<\/span><\/p>\n

A recent report by crypto research firm K33 <\/span>boldly asserted<\/span><\/a> that there was no \u201cproof of Cardano being used for anything.\u201d K33 further suggested that a \u201cgroup of bagholders\u201d were the ones simply fabricating a majority of transactions on the network, and nothing meaningful was going on Cardano.<\/span><\/p>\n

\"ADA<\/p>\n

ADA price at $0.47 | Source: ADAUSD on Tradingview.com<\/a><\/pre>\n
Cardano\u2019s Utility Good For ADA\u2019s Price<\/h2>\n
Dan Gambardello, the founder of Crypto Capital Venture, <\/span>once highlighted<\/span><\/a> how the <\/span>Cardano network<\/span><\/a> had improved since the last bull run. The network\u2019s smart contract functionality was among the features he alluded to as undergoing a significant upgrade since then. Notably, these improvements form part of why he believes that ADA could rise to $11 in the next bull run.\u00a0\u00a0<\/span><\/p>\n
Related Reading: US Bank Foresees Major Bitcoin Price Drop To $20,000<\/a><\/div>\n
These improvements have indeed contributed to the ecosystem\u2019s resurgence. Last year, the network saw a significant rise in its DeFi activity, and although <\/span>there has been a decline<\/span><\/a> recently, things are expected to pick back up soon enough. The <\/span>network\u2019s development activity<\/span><\/a> also looks to be paying off, as Gambardello <\/span>recently revealed<\/span><\/a> that there is now <\/span>Social Finance<\/span><\/a> (SocialFI) on Cardano.<\/span><\/p>\n
Members of the Cardano community will hope that a fiat-backed stablecoin can <\/span>finally be introduced on the network<\/span><\/a>. The introduction of a stablecoin <\/span>is believed<\/span><\/a> to be another factor that could help increase Cardano\u2019s utility. This could also cause an inflow of new money into the ecosystem, something which could positively impact <\/span>ADA\u2019s price<\/span><\/a>.\u00a0<\/span><\/p>\n
Featured image from FXStreet, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Cardano network continues to defy expectations and prove its doubters wrong. This time, the network has hit a new milestone, which suggests that users are indeed taking advantage of its smart contract functionality.\u00a0 Cardano Sees Significant Increase In Smart Contract Usage Data from Cardano Blockchain Insights has revealed an increase in the usage of Cardano\u2019s Plutus V1 and V2 scripts. As of January 22, 24,050 smart contracts had been executed using these Plutus scripts. This is impressive, considering that this figure stood at 14,379 at the beginning of this year. Related Reading: Bitcoin Repayments: Mt Gox Starts Verifying Addresses For 200,000 BTC In Payouts This recent increase can be traced back to January 9, when smart contract usage on the network really began to pick up. Specifically, the number of smart contracts executed on Cardano using the Plutus V2 scripts rose from 8,270 to 12,890 on that day. Since then, that figure has skyrocketed to 17,718.\u00a0 As expected, the Plutus v2 script is more widely used than its V1 counterpart, considering that the former is a newer generation of Cardano\u2019s smart contract scripting language. Cardano introduced Plutus V2 to reduce user costs and enhance script throughput effectively. Meanwhile, this development no doubt further proves naysayers wrong.\u00a0 A recent report by crypto research firm K33 boldly asserted that there was no \u201cproof of Cardano being used for anything.\u201d K33 further suggested that a \u201cgroup of bagholders\u201d were the ones simply fabricating a majority of transactions on the network, and nothing meaningful was going on Cardano. ADA price at $0.47 | Source: ADAUSD on Tradingview.com Cardano\u2019s Utility Good For ADA\u2019s Price Dan Gambardello, the founder of Crypto Capital Venture, once highlighted how the Cardano network had improved since the last bull run. The network\u2019s smart contract functionality was among the features he alluded to as undergoing a significant upgrade since then. Notably, these improvements form part of why he believes that ADA could rise to $11 in the next bull run.\u00a0\u00a0 Related Reading: US Bank Foresees Major Bitcoin Price Drop To $20,000 These improvements have indeed contributed to the ecosystem\u2019s resurgence. Last year, the network saw a significant rise in its DeFi activity, and although there has been a decline recently, things are expected to pick back up soon enough. The network\u2019s development activity also looks to be paying off, as Gambardello recently revealed that there is now Social Finance (SocialFI) on Cardano. Members of the Cardano community will hope that a fiat-backed stablecoin can finally be introduced on the network. The introduction of a stablecoin is believed to be another factor that could help increase Cardano\u2019s utility. This could also cause an inflow of new money into the ecosystem, something which could positively impact ADA\u2019s price.\u00a0 Featured image from FXStreet, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":571437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,14643,79508,12332,84370,84164,89230,12329,84044],"class_list":["post-571422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-blockchain","tag-cardano-network","tag-cardano-news","tag-cardano-price","tag-cardano-smart-contracts"],"acf":[],"yoast_head":"\nCardano Defies Bear Market As Smart Contracts Count Sees 10,000 Explosion<\/title>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Defies Bear Market As Smart Contracts Count Sees 10,000 Explosion","url":"http:\/\/www.ktsl888.com\/news\/cardano\/cardano-smart-contracts-10000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/cardano\/cardano-smart-contracts-10000\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Cardano_1d665b.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Cardano_1d665b.jpeg?fit=940%2C625"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","adausd","adausdt","cardano","cardano blockchain","cardano network","cardano news","cardano price","cardano smart contracts"],"dateCreated":"2024-01-25T21:00:25Z","datePublished":"2024-01-25T21:00:25Z","dateModified":"2024-01-25T21:00:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Defies Bear Market As Smart Contracts Count Sees 10,000 Explosion\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/cardano\\\/cardano-smart-contracts-10000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/cardano\\\/cardano-smart-contracts-10000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano_1d665b.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano_1d665b.jpeg?fit=940%2C625\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"adausd\",\"adausdt\",\"cardano\",\"cardano blockchain\",\"cardano network\",\"cardano news\",\"cardano price\",\"cardano smart contracts\"],\"dateCreated\":\"2024-01-25T21:00:25Z\",\"datePublished\":\"2024-01-25T21:00:25Z\",\"dateModified\":\"2024-01-25T21:00:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Cardano_1d665b.jpeg?fit=940%2C625","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/571422"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=571422"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/571422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/571437"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=571422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=571422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=571422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}