Cardano network creates five smart contracts every day as the Vasil update nears


The decentralised finance (DeFi) network has shown no signs of slowing down since the Cardano (ADA) network hit 3,000 smart contracts at the start of August.

In actuality, Cardano has onboarded five additional Plutus Scripts (a Cardano-based smart contracts platform) every day over the last month, increasing from 2,927 on July 20 to 3,092 on August 18. According to data obtained by Finbold from Cardano Blockchain Insights, the numbers reflect an increase of 165 smart contracts over the course of 30 days.

In addition, since the beginning of August, Cardano has incorporated up to 90 smart contracts, an average of five per day.

With the upcoming Vasil hard fork, the network continues to enjoy the advantages of the Alonso update in September 2021, which introduced smart contract functionality, enabling the blockchain to be faster and more scalable, and providing a DeFi application development platform and modifiability for the developer community.

After promising the cryptocurrency world that the Vasil hard fork would not be further delayed, Cardano creator Charles Hoskinson provided an update on the highly awaited network upgrades.

After examining nodes v.1.35.1 and v.1.35.2, Hoskinson decided that “Vasil is looking nice” and was “very satisfied” with node v.1.35.3, which he feels might be the final version for the hard fork.

Hoskinson said that the “testers are quite pleased with it as well,” finding no significant concerns that may derail the process.

However, the creator of Cardano admitted: “It is easy to become lost in the woods and fail to see the larger ramifications and themes of things. The ship is stable, which is exactly what a cryptocurrency and a blockchain ecosystem should be.”

The Cardano network’s native token is now trading at $0.465, down 13.8% on the day, according to CoinMarketCap data obtained by Finbold on August 19.

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