Smart contracts on Cardano (ADA) are on the brink of reaching 1,000

The update to the Cardano network in September 2021, which included the addition of smart contract functionality, has seen tremendous growth, enhancing the platform’s ability to compete with its larger competitor Ethereum in a number of ways.

Notably, the number of smart contracts based on Plutus, a Cardano-based smart contracts platform, has reached a milestone of 996 as of January 25, putting it only four smart contracts short of the 1,000 mark.

The graph depicts real Plutus-based smart contracts running on the Cardano blockchain, which were deployed as part of the smart upgrade enabled by the September Alonzo upgrade hard fork event.

In particular, the upgrade meant that Cardano could provide a decentralized finance application development platform as well as offer programmability to the community of developers.

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