The market value of Cardano, the eighth-largest cryptocurrency, has increased significantly in the past year.
An advocate for Cardano named Chris O praises the platform’s advancements in the past year in a post on X. He contrasts the January 13, 2023, and January 12, 2024, network statistics.
82.8 million transactions have been processed by the Cardano network as of right now, up 24.1 million from 58.7 million transactions in the previous year.
https://x.com/TheOCcryptobro/status/1745828204206792936?s=20
Because of the enhanced functionality brought forth by Cardano network improvements, more people are using Cardano for a variety of reasons, which suggests a high degree of user engagement and adoption.
Plutus v2, Cardano’s programming language for smart contracts, was improved with the September 2022 Vasil update. Additionally, Vasil improved the way on-chain (Plutus) scripts were handled, which decreased user expenses and increased script performance.
After a year, forty-four more projects were started, for a total of 156. There are now 9.4 million native tokens, an increase of 1.9 million. The number of Plutus V2 scripts, resulting from the Vasil update, has grown by 14,851.
2024 presents growth opportunities
Cardano has a great deal of promise, and growth is expected in 2024 and beyond. More improvements and features, such as the Chang hard fork, which will commence the Cardano governance model’s bootstrapping stage, are planned to be issued by the blockchain platform.
The publication of an interim constitution and technical guidelines for usage during the Voltaire bootstrapping phase, which will open the door for a constitutional convention later this year, are expected to be pivotal milestones for Cardano governance in early 2024, according to the most recent IOG weekly report.
Node v.8.7.3 was released in the beginning of 2024 to fix a small problem in ouroboros-network. Lace version 1.8, which fixes a fault with the signData function failing, offers stake pool rewards performance in a graph and enables synchronisation with other multi-address wallets, was also published.
