Cardano Sees 40K Smart Contracts 4 Days after Alonzo HFC

  • Cryptocurrency News
Cardano Sees 40K Smart Contracts 4 Days after Alonzo HFC

By Oliver Gray - Cardano fell during Friday’s session, trading 1.98% lower after the network completed its highly anticipated smart contract launch earlier this week, with over 40k smart contracts already deployed in the first four days.

The much-awaited Alonzo upgrade was successfully implemented on September 12 via a hard fork. This improvement enables developers to start creating smart contracts on the ecosystem. This would aid in developers creating decentralized applications (DApps) to provide decentralized finance (DeFi) services to the users of the blockchain, a feat that was considered unattainable by a vast majority of the crypto community. The burgeoning ecosystem will attract more users to the Cardano blockchain, improving its prospects and bringing in fresh capital.

While most of these smart contracts are not going into effect now, developers are creating them in a bid to lock their tokens ahead of the release of their decentralized applications. As decentralized finance popularity continues its upward trend, more protocols are expected to launch their smart contracts on the network over the coming months.

Meantime, Bitcoin and Ethereum were both trading higher, added 2.27% and 2.37% respectively.

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