Cardano (ADA) released some motivating on-chain data as the first month of fall approaches an end. The data shown indicates that smart contract usage increased by 11% with metadata and 14% without metadata, while transaction volumes increased by 51.3% and metadata by 23.6%.
The blockchain network is now the home to 1,113 projects, 100 of which joined in September, according to Input Output. More than 6.1 million tokens, 62,162 token policies and 3,307 scripts are part of the Cardano ecosystem. Charles Hokinson, a partner in the creation of Cardano, created the blockchain engineering firm Input Output.
51.2 million transactions have been conducted on the Cardano network, an increase of 4.2% over August. The total number of wallets climbed by 1.34% at the same time as the proportion of wallets using ADA for staking rose by 3.4%. As a result, 1.22 million of the 3.6 million ADA wallets are currently actively participating in staking and supporting the network’s operations.
Cardano has helped more than 1,000 decentralized apps (DApps) get off the ground, thanks to the Ouroboros blockchain architecture, which benefits from its scalable and secure smart contracts.
Cardano launched its Vasil hard fork on September 22nd and was pursuing its deployment for the better part of 2022 to further enhance transaction speeds and enhance the scalability of the blockchain network.
The introduction of the following technologies, according to the founder of Cardano, will demonstrate proper decentralized governance to everyone. When Cardano as a project turns six years old at the end of next year, the following phase is anticipated to be put into action.