Projects Flock into Cardano; Smart Contracts Surpass the 3,000 Mark

• Statistics from Cardano Blockchain Insight show that Cardano smart contracts surpassed the 3,000 mark on August 1.
• Particularly, The Alonzo Hard folk made Cardano see through with the provision of the Decentralised Finance (Defi)application platform and programmability to the developer society.

The Alonso Hard Folk that commenced September last year has seen Cardono’s number of Smart contracts rise over 3000 as of August 1. The number of Smart Contracts as of August 3 stood at 3015 as shown by Cardano Blockchain Insight:

The graph above shows Plutus Based smart contract running in Cardano’s Blockchain. The implementation of Smart contracts, which happened last year, and the Vasil Hard Fork still on the way will see Cardano’s Blockchain performance shoot to a desirable scale.

Long Awaited Cardano’s Vasil Hard Fork

Charles Hoskinson assured its users that the transition is in the final stages where it is undergoing testing. He stated that things are heading in the right direction ‘steadily and systematically’

“The good news is that the set of things that could go wrong have gotten so small, and now we’re kind of in the final stages of testing in that respect. So unless anything new is discovered, I don’t anticipate that we’ll have any further delays.”

He further added:

“Things are moving in the right direction steadily and systematically and I just wanted to give you guys an update that it’s all well in hand this is the nature of these types of upgrades”

Due to bugs especially those that affected transactions, serialization and consensus had to be ironed out, making them push the date of the release a bit further. The Folk was originally set to be released in July.

Ready for Basho Upgrade?

Currently, Cardano is in undergoing its fourth stage of development out of five on a roadmap to see Cardano in its full potential. The 5 major Phases include:

• Byron: foundation of the blockchain
• Shelley: Decentralization
• Goguen: Smart Contracts
• Basho: Scalability  ( currently in this stage)
• Voltaire: Governance functions

After this update, Cardano should be working with 100,000 transactions per second in scalability.