The Cardano blockchain has grown significantly, however it has been criticized for the paucity of projects that have been launched after the Alonzo Upgrade, which provided smart contract functionality to the network.
On December 24, Cardano creator and CEO of Input Output Hong Kong (IOHK) Charles Hoskinson outlined the network vision for 2022 on his YouTube channels, and the Cardano founder and CEO has stepped out again to give updates on what to expect in 2022.
In a tweet today, Hoskison stated that over 175 projects are based on Cardano, with more than a dozen slated to launch in the first quarter of 2022.
Prior to the tweet, Hoskinson discussed dApps and the Cardano DeFi Alliance on a stream on his Twitter account.
“There are over 127 projects that I’m aware of that intend to or are actively building on Cardano. DEXs are already on the testnet. There are already some on the mainnet, and there’s just a lot of competition there.”
“And also for major projects to move forward like light wallets and so forth…There’s Oracle progress. There’s a litany of things that are being worked on and actively coded to be deployed in commercialized Cardano”
The coming 90 days, according to Hoskinson, will be “very busy.” Plutus upgrades will be introduced at a combinator event in February, which is tentatively set. He went on to say:
“The next hard fork combinator event is in June, and that’s going to bring up a lot of the Plutus improvements that people like the CDA recommend, and what we’ve learned from working with Plutus developers.”
With a succession of innovations over the last year, the Cardano blockchain has witnessed significant progress, including the long-awaited smart contracts capability, which is expected to be onboarded by projects in Q1 2022.
According to the Cardano Foundation, the number of wallets on the blockchain network has expanded by over 1,200 percent in a year, from 190,000 last Christmas to 2.5 million on December 24, 2021.
The addition of more wallets unavoidably leads to an increase in the network’s overall number of users. The network’s native token has surged by over 850 percent in the same time period, demonstrating that the network is gaining traction.