Cardano (ADA) Achieves Significant Milestones In May 2023

In the face of a stagnant global cryptocurrency ecosystem over the past month, Cardano witnessed its developers from Input Output Global achieve several significant milestones. Furthermore, they revealed the details of the upcoming phase of Project Catalyst, the largest incubator for Cardano (ADA) products.

Cardano’s (ADA) ecosystem demonstrated steady growth throughout May 2023. One decentralized application successfully launched on the mainnet, while another 14 dApps are developing. As a result, the total number of active dApps on ADA reached an impressive 127.

1/ The weekly development update is released every Friday on #EssentialCardano. This thread recaps the main highlights from the previous month. Discover how many projects launched on #Cardano in May, and the growth of native tokens, token policies, transactions, and scripts. pic.twitter.com/XmLZKLUqO6

— Input Output (@InputOutputHK) May 31, 2023

Cardano Network Records Token Minting Surge And Transaction Count Increase

Additionally, over 150,000 new native tokens were minted on the Cardano network, and the count of Plutus scripts, which represent smart contract logic designs, surpassed 8,200.

The net transaction count also experienced a significant boost. Compared to April 2023, the number of transactions increased by over 1.8 million, surpassing the milestone of 67.2 million. To enhance interaction with on-chain staking pool operators (SPOs), the developers released the latest node software version, Cardano Node v.8.0.0.

Exciting news for ADA enthusiasts arrived with Marlowe’s highly anticipated mainnet release. This unique open-source set of development tools aims to streamline smart contract development, serving as a crucial backbone for ADAdeveloper ecosystem and accelerating the onboarding process for dApps.

Project Catalyst Fund 10 to Kick Off on June 21, 2023

In May, Cardano presented the first-ever mainnet compatible release of its Layer 2 solution, Hydra. This advancement marks a significant milestone for the project’s ecosystem development.

Looking ahead, IOG shared details regarding Project Catalyst Fund 10, the upcoming iteration of ADA community-driven incubation program. Starting from June 21, 2023, applicants will have the opportunity to introduce their innovative products, aiming to secure generous grants in ADA tokens. Project Catalyst has consistently fostered growth and innovation within the Cardano (ADA) community.

Cardano continues pushing boundaries and building upon its existing ecosystem, laying the foundation for a vibrant and robust blockchain platform. With ongoing advancements and the upcoming launch of Project Catalyst Fund 10, the future looks promising for ADA and its community of developers and enthusiasts.

The cryptocurrency market encountered heightened selling pressure, resulting in various significant cryptocurrencies declining. Consequently, the price of Cardano has decreased by 1.37% and is nearing the support trendline of the upward channel pattern. Over time, this ascending trendline has consistently served as a notable accumulation area for traders, often leading to a substantial recovery phase.

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