In September 2021, the Cardano (ADA) blockchain underwent a substantial upgrade featuring the integration of smart contracts, thus enabling the network to operate more efficiently and at a greater capacity.
Despite a decline in the coin’s price in 2022, the network’s development has advanced significantly. By December 4, the number of Plutus-based smart contracts that were operating on the Cardano blockchain had ballooned to 4,050, a 316% increase from the 947 that were in action at the start of 2021.
Once the Alonso hard fork was accomplished, Cardano was able to provide the developer community with a programmable, DeFi application creation platform.
Cardano’s team has been toiling recently to enhance script capacity, create the Plutus Debugger MVP, and accomplish the full implementation of Babbage support in Plutus tools prior to its launch.
In November, the Cardano developer Input Output Global (IOG) announced the unveiling of the world’s first decentralization index based on blockchain technology, and then established a new Plutus DApp resource section on the Cardano Docs website.