Cardano’s smart contracts have increased by more than 350% in a year, reaching by 4150 from 958 in January, data from Cardano Blockchain Insights showed.
This indicates developers keep on working in the cryptocurrency’s network, despite the ongoing bear market.
For those new, Plutus is the “smart contract platform of the Cardano blockchain” that allows users to “write applications that interact with the blockchain.”
The Cardano team said they worked on scaling the script capacity, the Plutus Debugger MVP, and finishing the spread of implementation of full Babbage support in the Plutus tools before its release.
In November, the R&D unit Input Output Global [IOG] announced the launch of the world’s first blockchain decentralization index, followed by the establishment of a new resource section for Plutus DApp developers on the Cardano Docs website.
ADA maintained its momentum by surpassing all crypto platforms in monthly development activity. Last month, activity rates in its public GitHub repositories spiked by 18% higher than the next highest-ranked asset, Polkadot [DOT], recording 572.67 generated events.
In addition to that, the network has recently tapped a new milestone with the launch of its first stablecoin.
EMURGO, the commercial arm of Cardano, unveiled the planned launch of its new dollar-backed stablecoin USDA, touted to be “the first fully fiat-backed, regulatory compliant stablecoin in the ADA ecosystem,” earlier this month.
Meanwhile, founder Charles Hoskinson shot back at naysayers after the leading blockchain saw a boost in the number of smart contracts deployed.
It is important to note that due to the network’s minimal value, opponents have sometimes referred to Cardano as a “ghost chain.”
Cardano Founder Reacts To “Ghost Chain” FUD
In response to these detractors, Hoskinson frequently refers to Cardano’s accomplishments as “ghost” successes. Hoskinson remarked that the network’s usage of “ghost transactions” has been quite beneficial when the network edged Ethereum in terms of transaction volume.
The well-known crypto entrepreneur compared ADA’s delegation transactions to ghost transactions in September. DIGI’s stake pools’ Rick McCracken tweeted that a minimum of 1.2 million transactions take place on the network every five days utilizing zero capacity.
To which the founder quipped, “One could almost say that they are Ghost transactions.”
As reported by TronWeekly, Hoskinson expressed frustration with Gemini exchange not listing ADA and said it could be related to “bankruptcy and risky behavior.” His comments came amidst the growing clamor to list the token on the platform.