\n<\/p>\n
Cardano\u2019s smart contracts have increased by more than 350% in a year, reaching by 4150 from 958 in January, data from<\/a>\u00a0Cardano Blockchain Insights showed.<\/span><\/p>\n This indicates developers keep on working in the cryptocurrency\u2019s network, despite the ongoing bear market.<\/p>\n For those new, Plutus is the \u201csmart contract platform of the Cardano blockchain\u201d that allows users to \u201cwrite applications that interact with the blockchain.\u201d<\/p>\n The Cardano team said they worked on\u00a0scaling the script capacity, the Plutus Debugger MVP, and finishing the spread of implementation of full Babbage support in the Plutus tools before its release.\u00a0<\/p>\n In November, the R&D unit Input Output Global [IOG]\u00a0announced\u00a0the launch of the world\u2019s first\u00a0blockchain\u00a0decentralization index, followed by the\u00a0establishment\u00a0of a new resource section for Plutus DApp developers on the Cardano Docs website.<\/p>\n Cardano maintained its momentum by surpassing all crypto platforms in\u00a0monthly development activity. Last month, activity rates in its public GitHub repositories spiked by 18% higher than the next highest-ranked asset, Polkadot [DOT], recording 572.67 generated events.<\/span><\/p>\n In addition to that, the network has recently tapped a new milestone with the\u00a0launch of its first stablecoin.<\/p>\n EMURGO, the commercial arm of Cardano, unveiled the planned\u00a0launch of its new dollar-backed stablecoin USDA, touted to be \u201cthe first fully fiat-backed, regulatory compliant stablecoin in the ADA ecosystem,\u201d earlier this month.<\/p>\n Meanwhile, founder Charles Hoskinson shot back at naysayers after the leading blockchain saw a boost in the number of smart contracts deployed.<\/p>\n It is important to note that due to the network\u2019s minimal value, opponents have sometimes referred to Cardano as a \u201cghost chain.\u201d<\/span><\/p>\n In response to these detractors, Hoskinson frequently refers to Cardano\u2019s accomplishments as \u201cghost\u201d successes. Hoskinson remarked that the network\u2019s usage of \u201cghost transactions\u201d has been quite beneficial when the network edged Ethereum in terms of transaction volume.<\/p>\n The well-known crypto entrepreneur compared ADA\u2019s delegation transactions to ghost transactions in September. DIGI\u2019s stake pools\u2019 Rick McCracken tweeted that a minimum of 1.2 million transactions take place on the network every five days utilizing zero capacity.<\/p>\n To which the founder quipped,\u00a0\u201c<\/em>One could almost say that they are Ghost transactions.\u201d\u00a0<\/p>\nCardano Founder Reacts To \u201cGhost Chain\u201d FUD<\/h2>\n