Cardano Price Forecast - Can ADA Jump to $10 in 2022?
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Cardano aims to solve the blockchain trilemma through its sophisticated proof-of-stake (PoS) protocol called Ouroboros. However, its native token has been hard-hit by the bearish waves that have swept through the crypto market.
Is there a chance of a bull run soon?
The Cardano team, led by former Ethereum co-founder Charles Hoskinson, has been deploying upgrades. The latest is the Vasil hard fork, which makes the peer-reviewed blockchain more scalable with minimal user cost.
However, the team is not done yet, with even more scheduled upgrades expected in the future. At the moment, Cardano is reaping the benefits of the Vasil Upgrade, although its native token price has not reflected this.
Since the deployment of the hard fork, the transactions on Cardano’s layer-1 blockchain have doubled. Over 3,445 smart contracts have been deployed on its Plutus V1 Scripts. The figure for its Timelock Scripts has also risen. According to data from the Cardano Blockchain Insights team, there are now 69,670 self-executing commands on the blockchain.
Aside from the recently concluded Vasil Upgrade, the Cardano team has several targets to hit before launching fully into the marketplace. But this delay has not deterred investors and blockchain users, as all indicators show.
According to a recently released Messari on-chain activity log, Cardano is the second most active blockchain network, only behind Bitcoin. The Ouroboros protocol has so far processed $3.09 billion in smart contracts transactions, beating Ethereum’s $1.7 billion figure. This is despite Ethereum’s transition to a full PoS protocol in
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