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- More developments coming to Cardano dApps
- ADA Price at the time of writing – $0.3662
- The Vasil hard fork was triggered on the Cardano mainnet on Sept. 22
On the Cardano mainnet, on September 22, the Vasil update was activated, and full capabilities were made available on September 27.
When compared to the statistics of the network prior to the Vasil update—specifically on September 16—some growth changes have occurred.
Four new projects have been launched in the weeks following Vasil, making a total of 102 projects launched on Cardano, an increase from 98 projects. From 6.1 million, the number of native Cardano tokens now stands at 6.4 million. There are now 63,064 token policies, up from 61,664.
Cardano native tokens are now at 6.4 million
The number of Plutus scripts has increased from 3,233 to 3,474 since then. The number of transactions increased by 1.8 million, from more than 50 million to 51.8 million.
Twenty more projects have started building on Cardano in the weeks since Vasil’s launch, as the number of projects building has increased from 1,100 to 1,120.
In response to SundaeSwap’s Hydra demo, Cardano founder Charles Hoskinson stated in a tweet that Hydra is coming to Cardano one DApp at a time” in reference to future developments for Cardano dApps.
SundaeSwap, a decentralized exchange (DEX) for Cardano, has announced that a successful demo test of the Cardano scaling solution Hydra has been conducted. According to SundaeSwap, this test represents a significant advancement for both Cardano and its scaling journey.
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Closer to launch: Cardano Djed
Djed, the algorithmic stablecoin developed by Cardano and the COTI network, is currently being completed. The Djed team previously stated that it was awaiting the Vasil upgrade, which would provide the scalability necessary to safely run the stablecoin on the mainnet.
The team claims that the only significant thing left after Vasil’s successful launch is the final audit results, which will determine whether any significant issues have been discovered.
The Djed team says it will proceed with putting the stablecoin on the mainnet if there are no issues. The final audit report for the Djed stablecoin is scheduled for the end of November, as stated in new updates from COTI CEO Shahaf Bar-Geffen.
The Vasil hard fork, named after the late Bulgarian mathematician Vasil Dabov, who made significant contributions to Cardano, is regarded as one of Cardano’s most anticipated enhancements.
The Cardano hard fork is the third development epoch and is intended to improve the network’s capacity and the smart contract programming language Plutus on the blockchain.
The event was initially scheduled to take place in June 2022, but it has since been pushed back several times.
CIP-31, CIP-32, CIP-33, CIP-40, and diffusion pipelining will be introduced by Vasil to enhance Cardano’s scalability and usability. CIP-31, also known as “reference inputs,” will introduce a new type of input that will let developers examine an output’s outcome without spending any money. Concurrency would rise and transaction throughput would be improved as a result.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
