There are some interesting updates in the Cardano ecosystem recently. Therefore, Altcoin Buzz looks at the latest developments from the first week of December to keep readers informed.
From last week, Cardano reaches over one million staking wallets. In addition, Cardano-based smart contracts show significant progress. Let’s look at these Cardano updates in detail.
1. Cardano Exceeds One Million Staking Wallets
During the week, Cardano blockchain reached a new milestone of over one million staking wallets on the platform. This is an impressive milestone as Cardano has been one of the most impressive projects since launching in 2017.
— Cardano Community (@Cardano) December 6, 2021
On the other hand, crypto and stock investor, Jesse Blount, also shared a post on Twitter congratulating Charles Hoskinson on the achievement.
We did it! https://t.co/cpQCV8LQdo
— Charles Hoskinson (@IOHK_Charles) December 5, 2021
2 – Cardano-Based Smart Contracts Shows Significant Progress
Cardano’s smart contract functionality, which offers DeFi dApps a development platform and programmability, is showing significant progress.
According to Cardano Foundation, the number of smart contracts on the Cardano-based smart contract system, Plutus, is approaching 1,000. This shows significant progress in terms of adoption by developers and the number of dApps on the platform.
— Cardano Foundation (@CardanoStiftung) December 8, 2021
3 – Cardano Launch $AGIX ERC20 Converter Testnet
As part of plans to enable transfers of ERC20 tokens from Ethereum, Cardano’s $AGIX ERC20 converter testnet is now live.
Therefore, according to the annoucement, Cardano will commence the initiative by partnering with SingularityNET. As a result, users will be able to transfer the $AGIX to Cardano from Ethereum and vice-versa using a permissioned bridge.
Moreover, the converter is available via a URL and users don’t need any technical know-how to utilize it. They only need to:
- Setup a Metamask account or use an existing one
- Customize the linked Cardano address. Thus, making it correspond to a Yoroi Nightly wallet or a testnet Daedalus which stores any transferred token.
OUT NOW: Our first ERC-20 converter is now live on testnet!
@SingularityNet #AGIX tokens will be the first to take advantage of #Cardano's lower fees, higher transaction capacity, and enhanced security👇 1/4https://t.co/IHz3hX6IVk
— Input Output (@InputOutputHK) December 7, 2021
Finally, Cardano also plans to enter more partnerships, creating multiple bridges and connecting users with more blockchain. Thus, increasing adoption and liquidity flow on the platform.
$ADA Price Outlook
As of the time of writing, $ADA was trading at $1.30 with a 24-hour trading volume of USD 1 billion and a marketcap of USD 41.6 billion. Also, the $ADA price decreased by 3.7% over the last 24 hours. Besides, it has a circulating and total supply of 32 and 45 billion tokens respectively.
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