Site iconSite icon ForkLog

99% of Cardano smart contracts deployed remain inactive

99% of Cardano smart contracts deployed remain inactive

2,352 smart contracts were deployed on the Cardano network, but 2,333 of them are timelocked, according to smartcontracts.vercel.app

The resource Adapools contains a sample of 200 of them. In all cases a timelock function is in place.

On 13 September 2021 at 00:44, the Alonzo hard fork occurred in the Cardano blockchain. The update enabled deploying Plutus smart contracts on the mainnet.

At the time, developers warned that this was just the beginning. They said some early dapps may prove problematic, and some could be unsafe.

In an interview with Forkast, Cardano founder Charles Hoskinson stated that after the Alonzo hard fork DeFi is open to everyone.

According to Hoskinson, leaders of the ‘second wave’ of DeFi will gain liquidity, predictable fees, functional interoperability, and the ability to deploy their applications across multiple networks.

“We need governance, certification, insurance, regulation, metadata identification, […] in the meantime decentralisation. Cardano was built for this”, said he.

As of writing, ADA trades at around $2.39, according to CoinGecko. Over the past seven days the asset has fallen by 5.1%.

Earlier in September, amid the deployment of Plutus scripts on the testnet, the coin reached an all-time high above $3.

Subscribe to ForkLog news on Telegram: ForkLog Feed — all the news, ForkLog — the most important headlines, infographics and opinions

Exit mobile version