Ethereum

Cardano

2024

Core

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 <p class="paragraph">The Cardano (ADA) network continues to experience growth in the deployment of <a rel="noopener noreferrer nofollow" title="smart" href="https://thebittimes.com/tag/smart.html">smart</a> <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a> on its blockchain, a significant factor driving the platform towards its goal of competing with established entities like Ethereum (ETH).</p>
 <p class="paragraph">As of January 24, the cumulative number of V1 and V2 Plutus <a rel="noopener noreferrer nofollow" title="smart" href="https://thebittimes.com/tag/smart.html">smart</a> <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a> on Cardano reached 24,050. This figure reflects a 9,671 or 67% growth from January 1, 2024, with a count of 14,379, according to data retrieved from <em>Cardano Blockchain Insights.</em></p>
 <figure class="wp-block-image size-full"><img decoding="async" width="508" height="330" src="https://cdn.thebittimes.com/images/2024/01/24/0b62ef032c55e3cbd5248e1476a39c3d.webp" alt class="wp-image-151046" srcset="https://cdn.thebittimes.com/images/2024/01/24/0b62ef032c55e3cbd5248e1476a39c3d.webp 508w, https://cdn.thebittimes.com/images/2024/01/24/0b62ef032c55e3cbd5248e1476a39c3d.webp 300w" sizes="(max-width: 508px) 100vw, 508px">
  <figcaption class="wp-element-caption"><em>Number of ADA smart contracts as of Jan 22. Source: Cardano Blockchain Insights</em> <br>
  </figcaption>
 </figure>
 <p class="paragraph">Notably, the growth in smart contracts builds upon the 2023 expansion, where the platform added almost 10,000 contracts in alignment with increased development activity.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-cardano-increased-development-activity-nbsp">Cardano increased development activity&nbsp;</h2>
 <p class="paragraph">The surge in smart contracts also coincides with a previous report indicating that the team working on the Plutus Core language executed common subexpression elimination (CSE) for Untyped Plutus Core.</p>
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 <p class="paragraph">Following this implementation, the platform has experienced notable improvements, with moderate and significant enhancements observed in the costs and sizes of most scripts. It is crucial to highlight that Plutus Core serves as the programming language bridging the gap between <a rel="noopener noreferrer nofollow" title="smart" href="https://thebittimes.com/tag/smart.html">smart</a> <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a> and the ultimate settlement layer of the Cardano blockchain.</p>
 <p class="paragraph">In line with increased network development, data from Cardano builder Input Output Global (IOG) revealed that 157 projects were launched, with 1,319 projects actively being developed on Cardano as of the week ending January 19.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="573" src="https://cdn.thebittimes.com/images/2024/01/24/b3893db8786989a6acf952095d980d2a.webp" alt class="wp-image-151047" srcset="https://cdn.thebittimes.com/images/2024/01/24/b3893db8786989a6acf952095d980d2a.webp 1024w, https://cdn.thebittimes.com/images/2024/01/24/b3893db8786989a6acf952095d980d2a.webp 300w, https://cdn.thebittimes.com/images/2024/01/24/b3893db8786989a6acf952095d980d2a.webp 768w, https://cdn.thebittimes.com/images/2024/01/24/b3893db8786989a6acf952095d980d2a.webp 1430w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Cardano weekly development report. Source: IOHK </em>
  </figcaption>
 </figure>
 <p class="paragraph">At the same time, since the start of 2024, Cardano has witnessed several releases, including Marlowe and the first Hydra release of the year, along with an upgrade to the Lace wallet.</p>
 <h2 class="wp-block-heading" id="h-cardano-price-analysis">Cardano price analysis</h2>
 <p class="paragraph">Despite the increased network development activity, the price of ADA is significantly tied to the general market trajectory. By press time, ADA was valued at $0.47, showing daily gains of about 0.6%, while on the weekly chart, the token is down by 10%.</p>
 <figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/24/e3d0bc2c0a7289ee6c73517360341ee4.webp" alt class="wp-image-151048" srcset="https://cdn.thebittimes.com/images/2024/01/24/e3d0bc2c0a7289ee6c73517360341ee4.webp 1024w, https://cdn.thebittimes.com/images/2024/01/24/e3d0bc2c0a7289ee6c73517360341ee4.webp 300w, https://cdn.thebittimes.com/images/2024/01/24/e3d0bc2c0a7289ee6c73517360341ee4.webp 768w, https://cdn.thebittimes.com/images/2024/01/24/e3d0bc2c0a7289ee6c73517360341ee4.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>ADA seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Based on the current trading pattern, ADA is facing support at the $0.45 level, while $0.50 remains the key resistance zone.</p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-smart-contracts-skyrocket-by-almost-10-000-in-2024-tbt77601.html">https://thebittimes.com/cardano-smart-contracts-skyrocket-by-almost-10-000-in-2024-tbt77601.html</a></p>

Cardano smart contracts skyrocket by almost 10,000 in 2024

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