all year 2022 cryptocurrency Although it was quite difficult for the market, the developers continued their work at full speed regardless of the price. According to new data, this year has been full for Cardano, one of the most discussed altcoins of recent years.
Cardano Foundation recently announced the annual reflection of the work on the project on the on-chain data with an infographic. According to annual data Cardano (ADA)Although it loses value like other altcoins, ISLAND The network continued to grow.
According to the statements of the foundation, the number of smart contracts in the Cardano network increased by 5 times compared to 2021, reaching 4,445. The number of native tokens created through ADA reached an all-time high, reaching 7.3 million.
Announced by the Cardano Foundation on-chain data also show that the interest in the project is not only on the side of the developer. The number of transactions on the ADA network increased by 139% to 56.9 million in a year, while the number of wallets grew by 47% to 3.8 million.
ADA, Ethereum’s Strongest Competitor
The largest smart contract platform is made up of Cardano and Solana, two of the likely biggest competitors of Ethereum. Although the Solana network stood out last year with its transaction fee advantage, the endless network outages in the project hurt the developers. ADA, on the other hand, is once again seen as ETH’s biggest competitor after Solana’s problems.
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