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Cardano-based smart contracts exceed the 3000 mark

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Nonhlanhla P Dube

Plutus smart contracts, which run on Cardano, have broken the 3000 mark for the first time since their creation. According to a recent research, smart contracts had 3002 walls as of the beginning of this month. The increase occurs as investors anticipate the imminent release of the Vasil hard fork.

Plutus Smart Contracts on Cardano Reach a Milestone

Cardano has seen numerous notable advancements since September 2021, including the adaptation of smart contract functionality. The inclusion improved the blockchain’s scalability.

Plutus Smart Contracts have surpassed 3000+ scripts, according to new research on the rise of the digital asset. The increase is due to the expectation of the Vasil Hard Fork event (Plutus script). Vasil’s introduction could improve Cardano’s decentralized development, Plutus language development, the establishment of a diffusion pipeline, and the reduction of block transfer latency.

Since August 2nd, the current increment number is 3,015. Furthermore, the Alonzo hard folk permitted Cardano to release Decentralized finance (DeFi) application programmability as well as a development platform for community developers.

On July 7th, Cardano’s CEO and innovator, Charles Hoskinson, reacted to concerns that the Vasil hardfork was harmful. Cardano’s smart contracts, according to Thorchain, a crypto Twitter fanatic, are incompatible with the Vasil Update and must be rewritten. According to Hoskinson, the network has taken the required steps to assure compatibility with the adjustments. As a result, there is no need to rewrite the network.

Charles claimed that the claims and assertions were bolstered by “stupid” trolls. He also accused the trolls of propagating rumours.

Vasil Hardfork Update

On August 1st, Charles Hoskinson went live on YouTube and stated that he did not foresee any further delays. Furthermore, he believes the Vasil hard fork is under control, and the update appears to be in its final test stage. The digital asset creator stated that things are moving in the correct manner and that the network could be released sooner.

However, he added that a few niggling issues must be resolved before the upgrade can go live. Cardano’s team will release the update in mid-August, allowing Cardano users to stake Cardano securely and easily using the bank’s institutional-grade platform to generate incentives.

Cardano wants to make some inroads into the crypto ecosystem with the upgrade, and the native asset, ADA, will most likely overcome its present bear market struggles.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
Tags: Cardano
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