Cardano has 200 smart contracts, but there’s a catch

  • September 17, 2021


Cardano

Following the Alonzo upgrade on Monday, the Cardano blockchain explorer now has over 200 smart contracts – but there’s a cost.

The Two-Hundred Intelligent Contracts

The 200 intelligent contracts mentioned are now in a timelock, and developers cannot utilize them until release.

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The number of intelligent contracts ready to be deployed, according to the Vercel App, is presently above 2,200.

Since Cardano’s debut in 2017, smart contracts have been a much-anticipated feature. Moreover, the functionality was finally enabled with the recent Alonzo hard fork.

Cardano Supports Smart Contracts

On Friday, Cardano and IOHK creator Charles Hoskinson remarked that now that Cardano supports smart contracts. Adding to the fact that the decentralized finance (DeFi) market is “up for grabs.”

Liquidity and interoperability, the flexibility to move multi-chain, and cost predictability, according to Hoskinson, will be the winners of the “second wave” of DeFi. “We need governance, we need certification, we need insurance, we need regulation on these things, metadata identity… at the same time, you need to decentralize,” he added:

“We need governance, we need certification, we need insurance, we need regulation on these things, metadata identity… at the same time, you need to decentralize,” he futher added.

“The way we constructed Cardano was for that second wave.”

Winners of The Second Wave

The winners of the “second wave” of DeFi, according to Hoskinson, will be liquidity and interoperability, the freedom to move multi-chain, and cost predictability. “We need governance, certification, insurance, regulation on these things, metadata identity… and you will need to decentralize at the same time,” he continued.

GREED, a reward token is dispersing Cardano’s ADA back to holders; Liqwid, an open-source and non-custodial liquidity protocol for interest rate curves; SingularityNET, a platform that enables anybody to build, share, and monetize artificial intelligence services at scale; and Cardax, the Cardano-based exchange.

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