Tuesday, December 6

Cardano Projects Building on Blockchain Spike to 917 Before Vasil Hard Fork

As stated by the recent tweets shared by IOHK, Cardano now has over 917 projects building on it.

In the Twitter post, IOHK predicts that this is just a fraction of what is to come while asking the question of when Cardano projects will reach the 1,000 mark as the Vasil June hard fork approaches.

Read Also: Cardano Plunge into “Historical Buying” Zone as ADA Price Sloughs 7% in a Week: Details

Cardano addresses have recently surpassed the 3.6 million count, according to Messari on-chain data. According to Cardano blockchain analytics, there are already over 4.5 million native tokens, over 5,000 unique tokens (NFTs), and over 900 projects based on Cardano.

This might propose the overall development and adoption of the Cardano network. Despite this, Cardano participants and the community as a whole are not relenting on Cardano’s wider adoption. As shown in a late IOG blog post, the capacity to work with other blockchains, or interoperability, is important.

Along these lines, Input-Output Global plans to release a new permissionless EVM sidechain this year. This sidechain aims to make it possible for Cardano developers to write Solidity smart contracts and create EVM-compatible dApps and ERC20-compatible tokens.

The key features of the EVM sidechain will be full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, the use of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus protocol, and also the ability to inherit security from the Cardano main chain.

Read Also: Cardano Focus On Increasing Interoperability To Strengthen The DApp

Cardano’s parent company IOHK, and Wanchain, broadcast their collaboration to facilitate interoperability between the Cardano mainnet, Cardano sidechains, and other blockchain networks, as previously stated by the cryptolifedigital.

After touching lows of $0.816 on April 26, the ADA price is currently stabilizing. ADA was trading at $0.822 at the time of publication, down 2.38% on the day. ADA is currently trading at a discount of 73% to its all-time high of $3.10 set in September 2021.

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