The amount of native assets generated on the Cardano blockchain network is a primary driving force for increased interest in the Cardano ecosystem.
According to pool.pm data, the total number of native assets created on the Cardano blockchain is now 5,015,727, with 54,831 distinct minting policies.
The Cardano blockchain can develop, interact with, and destroy custom tokens or assets natively, allowing users to interact with them without the need of smart contracts.
It’s worth mentioning that these developments follow a trend of NFTs’ growing popularity, despite the fact that they’re still in their infancy, and Cardano made improvements to accommodate them.
Cardano’s scalability – continually rising capacity and throughput to accommodate the expansion of the decentralized app (dApp) ecosystem and onboard millions of new users – is one of the features that makes it one of the chosen platforms for NFT minting.
Cardano completed a significant network upgrade in September 2021, which included smart contract functionality, increasing the blockchain’s scalability and performance. It has accepted over 1,000 smart contracts and over 5 million new ADA wallets by the end of March 2022.
Following the launch of new projects in Q2, IOHK has disclosed the network’s most current statistics, which showed that the blockchain has incubated 986 protocol projects.
Cardano’s developer announced in January that the block size had been increased by 12.5 percent to 72KB, as well as other performance and scaling enhancements such as the introduction of on-disk storage and improved block propagation times to at least 95% of peers within five seconds by reducing the ‘dead time’ between blocks.