Since the introduction of the smart contract feature, the Cardano (ADA) network has grown significantly. This brings it closer to competing with established platforms such as Ethereum.
On November 27, 3,811 distinct smart contracts were running on Cardano’s Plutus smart contracts platform. According to Cardano Blockchain Insights data, after registering 947 smart contracts on January 1, the value has increased by more than 300%, or 2,864, in 2022.
Given the current network development activity, the Cardano community believes that the expected implementation will increase the value of ADA/USD. The increase in Cardano’s smart contracts follows additional development of the network to improve the usability of the feature.
Cardano also launched the Plutus DApp Developer Resource website, where developers can learn how to build decentralised applications (DApps) using Plutus smart contracts, and beginners can learn about DApps.