Cardano smart contract transactions expanded by 30% in August
The post Cardano smart contract transactions expanded by 30% in August appeared on BitcoinEthereumNews.com.
Cardano (ADA) aims to show its progress, especially after boasting the new features of its Chang hard fork. The network expanded its smart contract activity in August, trying to catch up with other L1 chains. Cardano (ADA) transactions to smart contracts expanded by 31% in August compared to the previous month. The network has been trying to catch up with other L1, adding games and apps during the Web3 boom. Now, Cardano aims to rebuild again, especially after the long-awaited Chang hard fork. The Cardano Foundation noted the network carried 31% more smart contract transactions compared to the previous month. Simple transactions were even more active, expanding by 49%. Cardano gained attention in the run-up to its Chang update, as most nodes upgraded in August, leading up to the actual fork event on September 1. Cardano’s August 2024 On-Chain Stats 📊 We saw steady growth across the @Cardano ecosystem last month—more transactions, more wallets, more native tokens. Onward and upward! pic.twitter.com/fFWes0d0jo — Cardano Foundation (@Cardano_CF) September 9, 2024 Outside of network growth and activity, ADA managed to retain the $0.34 level, trading mostly sideways but without deep crashes. In early September, Cardano is also expanding the count of its Direct Representatives, or DReps. The representatives are in the process of registering directly on the platform, with a permanent record. DReps can register with a 500 ADA deposit, with close to 400 on the list as of September 9. The representatives will uphold the Cardano rules and will have the task of voting on a constitution and other problems such as treasury allocation. DRep are already starting personal campaigns to connect with builders and offer them representation and votes. Cardano lags in stablecoin adoption, user count The Cardano network still lags in terms of daily active wallets. The chain achieved a…
Filed under: News - @ September 9, 2024 5:27 pm