Cardano Cryptocurrency Expands with 70,000 New Smart Contracts in 2024
Cardano's Remarkable Smart Contract Growth
In 2024, the Cardano (ADA) ecosystem has experienced an extraordinary expansion of its smart contract capabilities, primarily driven by Plutus V2 contracts. On January 1, 2024, the number of Plutus V2 scripts stood at just 8,083, but by September 18, that figure surged to 80,437, an impressive increase of 72,354 contracts.
Continuing Evolution with Plutus V1 and V3
- Despite the attention on Plutus V2, Plutus V1 scripts have shown steady growth, increasing from 6,296 scripts to 6,711 by mid-September, marking an addition of 415 scripts.
- With the launch of Plutus V3 in 2024, significant improvements have been made, including functionality enhancements and reduction in development costs.
- As of September 18, there are 18 active Plutus V3 contracts, indicating early adoption of this upgrade.
Impact on the Cardano Ecosystem
The total expansion of Cardano's smart contract landscape in 2024 reaches 72,787 contracts, reflecting a thriving ecosystem bolstered by innovative technologies like Plutus scripts. These developments are expected to revolutionize the efficiency, security, and interoperability of Cardano's blockchain.
Currently, ADA is trading at $0.3484, reflecting a 5.78% increase—reinforcing the market's positive response to these advancements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.