In a recent update posted on LinkedIn, the marketing and communication director (input and Output global) of Cardano, Tim Harisson claimed how the ADA ecosystem is consistently growing as over 500 projects are currently being built on the network.
Cardano ecosystem grows to accommodate new projects related to NFTs and DeFi
In September 2021, Cardano underwent a significant network update that enabled the blockchain to implement smart network capabilities, allowing it to have better functionality than before.
By the end of January 2021, the network had successfully implemented approximately 1000 smart contracts. The network’s soaring popularity after the Alonzo Hard Fork Upgrade, helped the blockchain to secure 3 million active ADA wallets.
Moreover, Cardano’s IOHK had also proposed a block size increase by 11% for the network to accommodate more data and to bolster the network’s overall capacity.
The upgrade substantially stimulated the activity surge on the network, helping the blockchain attract more pristine projects. According to a new update posted by IOHK director Tim Harrison, the ADA ecosystem is advancing with over 500 new projects that are being built on Cardano, related to NFTs, Defi, and new wallets.
“The #Cardano ecosystem continues to grow, with now over 500 projects #BuildingOnCardano – from NFT collections to #DeFi lending and new wallets. Props to all the IOG team that continues to drive the platform forward. It has been a remarkable journey to get to here. And Kudos to the innovative, passionate community of builders that has brought this project so far. We’re really just getting started, you know #Blockchain”
Furthermore, the network is hosting nearly 34% of projects related to NFTs, a number that keeps on growing with each passing day. At present, the network is home to over 800,000 NFTs.