Cardano: 1,146 projects, 6.9M native tokens, 55.3M transactions – Is ADA heading to $3?
After 2 years of development, the decentralized platform AdaSwap announced the launch of its DEX on the mainnet. Last week, the Cardano development team made significant improvements in the network scalability solution Hydra. The Cardano blockchain network has seen...
- After 2 years of development, the decentralized platform AdaSwap announced the launch of its DEX on the mainnet.
- Last week, the Cardano development team made significant improvements in the network scalability solution Hydra.
The Cardano blockchain network has seen a range of key developments taking place on the platform. In one of the major announcements on Monday, November 28, Adaswap, the ecosystem builder behind one of the first decentralized exchanges on the Cardano blockchain, went live on the mainnet.
AdaSwap, the next-generation decentralized exchange (DEX) on the Cardano blockchain, said:
After an intense 2 years of growth and building AdaSwap is happy to announce the launch of our DEX in mainnet! This is not the 1st big accomplishment of ours but it is definitely the most exciting!
AdaSwap launched its testnet version earlier this year in June 2022. Besides, it was also one of the first projects to launch on the top of the Milkomedia Network, an interesting protocol that brings EVM capabilities to blockchains such as the Cardano network.
In the past, Cardano-based decentralized exchange AdaSwap has received endorsements from “Wonder Woman” star Gal Gadot. The Israel-based popular star also said that it was an “exciting” investment opportunity. Additionally, the AdaSwap project has also secured backing from some of the prominent VC firms such as Banter Capital and Finova Capital.
Key updates on the Cardano blockchain
The Cardano team has recently released the key updates and development report for the last week including. The development included ongoing work on wallets, smart contracts, and scaling solutions.
The Daedalus team from the Cardano ecosystem worked on the Lace desktop development. This team is looking to merge development streams for both the browser and desktop teams so that they can work together in a single environment. The team is working on embedding DApps into the Lace desktop application as well as overcoming some hardware wallet issues.
The Cardano team has been working on completing SECP-256k1 builtin for Plutus. “They also worked on increasing script capacity, the Plutus Debugger MVP, and finalized the implementation of full Babbage support in the Plutus tools prior to its release,” the announcement noted.
Offering the latest insights into the working of Cardano, the blockchain network is currently running 1,146 projects, with 6.9M native tokens, and has processed over 55.3M transactions.
ICYMI: Our weekly #Cardano development update is live on #EssentialCardano!
Check out what our dev team has been up to and get the latest on our development progress.
As always, we welcome your feedback and comments👇 https://t.co/nf12SDsEiu
— Input Output (@InputOutputHK) November 27, 2022
The Hyrda team has been working on improving the scalability aspect of the Cardano blockchain. “The team also worked on the specification and closing gaps in the on-chain scripts, collaborated with the education team on a Hydra tutorial,” it noted.
On the other hand, the Mythril team is looking to upgrade the Mithril test network infrastructure and make it more resilient. The team is also working on the second phase of implementing the automatic store upgrade of the signer and aggregator nodes.
Finally, the team has also made some progress in implementing the Cardano governance scheme as part of the proposed Voltaire governance system.
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