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Home Crypto News Market Cardano On-Chain Data Shows Network Growth, With Distinct Minting Policies Crossing 58K

Cardano On-Chain Data Shows Network Growth, With Distinct Minting Policies Crossing 58K

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Cardano recorded slight growth in various segments of the project last month. 

According to on-chain data shared by the Cardano Foundation, a total of 58,993 (58.9K) distinct minting policies have been recorded on the Cardano network. This represents an increase of 3.5% from the previous month’s record. 

A Cardano policy is a script used to set certain parameters, such as who has the authority to mint tokens on the blockchain and the duration it will take to mint the tokens.

The leading blockchain project also recorded strong growth in the number of on-chain transactions. Per the data, on-chain transactions rose 4.9% to a whopping 47 million. 

With Cardano ranked among the top blockchain projects in terms of security, huge amounts of native assets have been launched on the network. 

The Cardano Foundation data shows that a total of 5.7 million native digital assets have been issued on Cardano, which represents a 6.34% growth compared to the previous month’s record. 

Furthermore, the number of Cardano wallets increased slightly by 2.27% in the past month, bringing the total number to 3.5 million. In the same vein, the number of Cardano’s delegated wallets is slightly up 0.34% to 1.17 million. 

Cardano’s Plutus script surged 4.76% in July compared to the previous month’s record. By the end of July 2022, a total of 2,993 plutus scripts were recorded on the Cardano network. 

Cardano Records Steady Network Growth

It is gradually becoming a routine for Cardano to record strong growth across various parts of the network. The spike in Cardano’s monthly on-chain stats suggests a growing adoption of the blockchain. 

Cardano exposes its users to a lot of exciting features, including fast and low-cost transactions, as well as maximum security. 

The team responsible for Cardano’s research and development, Input Output Global (IOG), is always committing efforts to development activities and securing Cardano users and blockchain.

It is worth noting that since Cardano launched in 2017, the network has not experienced any downtime compared to other proof-of-stake chains, including Ethereum and solana.  

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jimaa
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.


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