Input-Output Global: 1,151 Web3 Projects Building on Cardano

Input-Output Global: 1,151 Web3 Projects Building on Cardano

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In a 12-part tweet yesterday, Input-Output Global (IOG), the team behind the Cardano network, detailed the performance of the blockchain over the previous year, noting that there were over one thousand projects building on Cardano.

The project development areas included decentralized exchanges (DEX), dApps, DeFi wallets, gaming platforms, and lending solutions. Some browser-based Cardano-compatible wallets that joined Cardano in 2022 are YoroiWallet, AdaLiteWallet, GeroWallet, NamiWallet, FlintWallet, and AtomicWallet.

🧵1/nWith 1K+ projects #BuildingonCardano, from wallets to DEXs, #DeFi and more, let’s look at the health of the #Cardano ecosystem. #Cardano projects are increasing & Cardano has become more interoperable. @Milkomeda_com for example delivers EVM compatibility to Cardano. pic.twitter.com/kK4BYKXeJd

— Input Output (@InputOutputHK) January 19, 2023

Additionally, some hardware wallet companies added support for Cardano native token ADA. These hardware wallets include Trezor Model, Ledger, Nano S Plus, Ledger Nano X, and BC Vault.

Furthermore, data from Cardano blockchain insight shows a steady increase in ADA on-chain activities, including wallet delegators, new daily ADA wallet creation, payment transactions, total locked value (TVL), and more.

In another tweet thread today, Input-Output Global revealed that the next Cardano upgrade would be coming up in February. According to IOD, the update will bring new built-in functions to Plutus, the smart contract programming language for the Cardano blockchain, to support ECDSA and Schnorr cryptographic signatures.

1/10: The next Cardano upgrade targeted for February will bring new built-in functions to #Plutus, the smart contract programming language for the #Cardano blockchain, to support ECDSA and Schnorr cryptographic signatures to make it easier for developers to build cross-chain apps

— Input Output (@InputOutputHK) January 19, 2023

Notably, Schnorr and Elliptic Curve Digital Signature Algorithm (ECDSA) are digital signature algorithms (DSA) used by popular chains such as Bitcoin and Ethereum. Because Cardano uses a different signature method, the February upgrade would support ECDSA and Schnorr, making it easier for developers to build cross-chain apps.

The Cardano native token ADA trades at $0.3376, maintaining its eighth position among cryptocurrencies with the largest cap. The coin made no significant price improvement over the past week, according to CoinMarketCap data.

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