Cardano Explodes With 200% Smart Contract Growth in 2023 | The Crypto Times

The Cardano (ADA) blockchain has witnessed explosive growth in its smart contract deployment this year, outpacing initial figures by over 200%. Thanks to the open-arm welcome of more smart contracts this year compared to the figures from early January.

Plutus V1 scripts, the first-generation smart contracts on Cardano, grew by 33.38%, from 4,718 in January to 6,293 as of December 23rd.

Plutus V2 scripts, offering enhanced capabilities, witnessed a staggering 230% increase, jumping from 2,421 in May to a current total of 8,009.

Combined, Cardano now boasts a total of 14,302 smart contracts, a remarkable 9,584 increase since the year began.

This growth aligns with Cardano’s ongoing network development efforts. The recent December 15th update introduced Common Subexpression Elimination (CSE) to Untyped Plutus Core, the language powering smart contracts on the blockchain. This optimization leads to smaller and more efficient scripts, further attracting developers.

Also Read: Hoskinson Clashes With Bitcoin Beach in Cardano’s Defence

Jahnu Jagtap is an Analyst, with over two years of experience in the crypto industry. With a deep understanding of the ever-evolving crypto market and a passion for sharing his knowledge with others. As an analyst, he has spent countless hours analyzing crypto market trends and studying the latest developments in the industry. Jahnu is also a skilled writer. He shares his analysis with a wide audience and provide them with useful insights from his knowledge and experience. His writing is clear, concise, and easy to understand, making it accessible to readers of all levels of experience.