400 new projects were added to Cardano in a month

The developers have created a project with which Ethereum-based ERC-20 tokens can be converted on the Cardano blockchain

20.04.2022 - 15:50

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What’s new? The creators of Cardano Input Output (IOHK) reported that about 900 projects are being developed on the network. The figure has grown by roughly 400 projects in a month. Earlier, IOHK Vice President Tim Harrison reported that the total number is around 500 projects. Among them is the AGIX ERC-20 Converter Bride, which was developed by the IOHK in collaboration with SingularityNET. It allows the conversion of Ethereum-based ERC-20 tokens on the Cardano blockchain, Cointelegraph reports.

Information on the Cointelegraph website

What had happened before? The volume of transfers on the Cardano network increased dramatically in March. The analysts believe that this may indicate a massive purchase of ADA tokens by institutional investors. In 2022, the number of ADA’s token transactions over $100 000 increased by 50 times.

In early April, the Cardano network crossed a new milestone of more than 5 million addresses functioning on the network. An increase in the number of users correlates with an increase in the number of decentralized applications and solutions on the network.

Founder Charles Hoskinson suggested that Cardano’s performance and smart contract capabilities will improve due to the upcoming Vasil hard fork upgrade in June.

What is known about Cardano? It is a blockchain with the native token, ADA. The platform allows developers to create smart contracts and decentralized applications. The network was founded by Charles Hoskinson, a former co-founder of Ethereum.

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