The number of smart contracts on Cardano is growing over time. Indeed, the Blockchain increases almost a thousand additional programs in just a few months. Find out how the value of the native ADA token is pushed up.
How Cardano smart contracts raise the level of ADA?
According to data from CoinMarketCap, ADA was up more than 0.4% in the past few hours. Moreover, this increase was more than 5% last week. In other words, this crypto shot up 55% in order to trade at $0.40. Although the gains are consistent with some market-wide crypto recovery, Cardano’s advancement is secure.
This is why crypto allows blockchain to weather market turbulence. This is particularly noticeable through the launch of the Vasil hard fork upgrade. The latter took place in September and allowed Plutus Scripts to progress. Indeed, the Cardano-based smart contract platform helps to increase self-executing programs considerably.
The recent launch of Djed Stablecoin
It should first be mentioned that in the month of January 2022, their number was 1000. On the one hand, Cardano is improving its dApps capacity which allows to increase transactions by using smart contracts. Aside from smart contracts, Cardano is likely to see more inflows following the release of its new stablecoin.
This one is known as Djed and went live on mainnet on January 31st. Moreover, the developers of this new digital asset present it as a decentralized and stable solution. The latter is a valid replacement for fiat-dependent stablecoins and is designed for better security and transparency.
Ultimately, Cardano’s smart contracts help weather the turmoil in the cryptocurrency market. However, it is important to ask questions about the stability of his stablecoin Djed. Will this one be able to resist the volatility of the caliber which led to the collapse of Terra USD?
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