Cardano Booms with 1,240 Projects, 66.3M Transactions, and Djed Leading the DeFi Revolution

• Cardano had 66.3 million transactions and 126 projects were launched on its network in the last week.
• The Daedalus team worked on the proxy server to improve the currency conversion feature.
• Input Output Global (IOG) reported that ADA-backed stablecoin, DJED, is expanding greatly since going live.

Cardano’s Explosive Ecosystem

Cardano experienced an interesting week as it recorded more than 66.3 million transactions and launched 126 projects on its network. This brings the total number of projects currently in development on the Cardano network to 1,240. Native Tokens also saw 8.24 million tokens, 73,114 token policies and 7962 Plutus scripts recorded this week alone.

Currency Conversion Feature Improvements

The Daedalus team worked to improve the currency conversion feature with a proxy server update. This ensures users have better access to their wallets with features such as a 12- or 15-word recovery phrase, viewing prices of native tokens in 11 fiat currencies and compact number notation for large numbers. Additionally, they can switch between networks more easily if they forget their password and NFTs are displayed correctly in lists and galleries.

Marconi Sidechain Architecture

The Plutus tools team documented Marconi-sidechain architecture and redesigned resuming capabilities to address issues encountered by developers when working with smart contracts. On the other hand, Marlowe team integrated library functions for contract safety checks and automated testing of various REST scenarios involving smart contracts .

Mithril Team Release Update 2318.0

The Mithril team released update 2318:0 which implements migration phase of ‘Ouroboros Hydra’ protocol which helps scale up Cardano blockchain performance by increasing block size limit up to 1MB per block & adding new consensus nodes for decentralised operations & improved security against 51% attacks .

DJED Leading DeFi Revolution