Home News 99% of smart contracts deployed in Cardano remain inactive

99% of smart contracts deployed in Cardano remain inactive

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The Cardano network has deployed 2352 smart contracts. But 2333 of them have the status of temporary blocking, according to smartcontracts.vercel.app

The Adapools resource contains a selection of 200 of them. Thus, there is a timelock function everywhere.

On September 13, 2021, the Alonzo hard fork took place in the Cardano blockchain. In addition, the update allowed the deployment of Plutus smart contracts on the main network.

We need decentralization

At that time, the developers warned that this was “just the beginning of the road”. According to them, some early decentralized apps may be problematic, and some are unsafe. “We can also expect that attackers will try to benefit through hacks, exploits and the like,” they also added.

During an interview with Forkast, Cardano founder Charles Hoskinson said that after the hard fork, Alonzo DeFi is open “for everyone”. In his opinion, the leaders of the “second wave” of DeFi will receive liquidity, predictability of commissions, interoperability and the ability to host their applications on multiple networks.

“We need governance, certification, insurance, regulation, metadata identification. At the same time, decentralization. Cardano was created for this,” he said.

At the time of writing, ADA is trading at $2.16, according to CoinGecko. Over the past seven days, the asset has fallen by 16.7%.

Plutus scripts in the testnet

Recall that in early September, against the background of the deployment of Plutus scripts in the testnet. Moreover, the coin updated the historical maximum at levels above $3.

Plutus is the non-profit organization Haskell Foundation (receives funding from IOHK) developed framework. That allows you to launch smart contracts in the Cardano blockchain. It is designed to provide quick access to applications and services running on the network.

The implementation of smart contracts in the testnet allows developers to start creating decentralized applications to test them before launching on the mainnet.

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