Cardano is in the spotlight in the crypto sphere: its smart contracts have recorded unprecedented growth in 2024. Data from January 24 indicates an increase of 67% compared to January 1. The improvements made to the ecosystem thus seem to be bearing fruit, especially since Hoskinson, co-founder of the network, predicts positive trends for Cardano in 2024.
Crypto: Explosive Growth of Smart Contracts on Cardano
As of January 24, the cumulative number of Plutus V1 and V2 smart contracts on Cardano reached 24,050. These area growth of 9,671or 67% compared to January 1 which was 14,979. These are the impressive figures indicated by Cardano Blockchain Insights. This growth coincides with the period when the platform added nearly 10,000 smart contracts to increased development activity.
An increase in contracts, which itself coincides with the implementation of the Plutus Core language. Since then, the crypto platform has experienced notable improvementsthanks in particular to improvements in costs and script sizes.
Despite development activities, the price of ADA crypto is highly dependent on the general market trajectory. Crypto currently faces support at the $0.45 level, and $0.50 remains the key resistance area.
Hoskinson’s optimistic forecast
All this leads us to wonder about the future prospects of blockchain and network-native crypto. According to Charles Hoskinson, they are very positive in 2024. He said on Youtube that 2024 is a pivotal year for Cardano, emphasizing “the era of Voltaire”.
Inspired by the French writer and philosopher, Voltaire is the fifth and final step of the roadmap of the development of this blockchain. Its main pillars are democratic governance, institutions and constitutional representation.
Based on the Electric Capital 2023 report, Hoskinson demonstrated Cardano’s performance despite the volatility of the crypto market. This highlights the positive trends in the development of this ecosystem.
Hoskinson’s thoughts, combined with current technological developments, provide a comprehensive and nuanced view of the Cardano blockchain.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
