It’s been just over two months since Cardano successfully completed its Vasil update (September 23). And the blockchain is gaining unprecedented traction among developers, if the ADA community and the Cardano Foundation are to be believed.
1146 projects in development on Cardano, who says better?
The Cardano Foundation publishes its every Friday development report of the blockchain. On November 25, he was no exception to the rule and published the famous summary document. Some interesting figures, including a summary in the pictures below. nowadays, 106 projects are active on Cardano and 1146 projects are under constructionwaiting to be deployed on the mainnet.
In recent years, Cardano has not survived the allegations regarding “ghost chain”. In other words, a ghost blockchain, without any real activity. It must be said that the personality of the founder – Charles Hoskinson – is divided: sometimes he is respected, sometimes he is insulted for his clear opinions and positions (also?).
The IS multiple delays to the roadmap not strangers to him either. The latest is related to the extended delivery time of the Vasil update, which was deployed in September when it was originally supposed to be completed in June. Global Input Output (IOG), the company that develops Cardano, is used to taking its time. A trend seen by some members of the ADA community as lack of efficiency.
Cardano among the blockchains with the most active development
In any case, Cardano embraces its long-term strategy of incrementally deploying incrementally created features. And this strategy seems to be paying off.
Number with contributions on GitHub It is a good indicator of developer activity on a blockchain. GitHub is the main code storage platform, where many projects leave their code Open source, ie free to be seen and copied by anyone who wishes. According to data from GitHub, compiled by the user @ProofofGitHub on Twitter, Cardano is in the three most active networks when it comes to coding. Here are the average daily numbers:
We developed the various IOG projects in our article last Saturday (see Cardano (ADA) prepares the next move: stablecoin, anonymous sidechain and 100,000 new active addresses): the USDA regulated stablecoin and the Anonymous sidechain midnight the most advanced ones, the first is expected in early 2023 and the second is already in the testing phase.
Alongside these community projects, IOG is also developing a new wallet, called Lhasa. This wallet is currently in beta, and will be replaced Daedalus, the network’s historical portfolio. Daedalus is known as a full node wallet. Rather complicated, it mainly concerned advanced users. Lace will come to destroy various problems, starting with the lack of ergonomics.
Another important step taken by the network, the milestone of 3.7 million active addresses. According to data from the Cardano Blockchain Insights portal, Cardano now has 3,744,827 addresses as of this writing. A record amount of more than 100,000 new wallets that do not appear in the course of the ADA, unfortunately, the fault of a bear market that seems to want to go on forever.
And the ADA in all this?
Unfortunately, the cryptocurrency is sailing far from the prices it reached in the past. After a all high at $3.10 in January, ADA is still stuck in a downward direction. But if the ADA is not in great shape, it does not let go against Bitcoin and shows that it is still an asset to be reckoned with during the next bullish run.
As for 2022, it is therefore very unlikely that the ADA will return close to 3 dollars. A more reasonable price target is $1.30-$1.50, given the updates already implemented and the ones to come.
Of all the projects aiming to compete with Ethereum (ETH), Cardano is probably the most serious – and the most technically advanced. For several years in advance, IOG has succeeded in introducing innovations that Ethereum developers (united within the company ConsenSys) are trying to achieve. Starting with Proof of Stake – Proof of Stake, PoS – owned by Cardano since 2017.