HomeCrypto NewsMarketCardano "Ghost" Smart Contracts Spike Over 300% On Year-to-Date

Cardano “Ghost” Smart Contracts Spike Over 300% On Year-to-Date


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Hoskinson trolls critics who refer to Cardano as a “ghost chain.”

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Cardano founder Charles Hoskinson has teased critics after the leading blockchain saw a boost in the number of smart contracts deployed.

According to data shared yesterday by Altcoin Daily, the number of smart contacts deployed on the Cardano network has soared more than 300% year-to-date (YTD). 

Per the data, 947 smart contracts were deployed on the Cardano network at the beginning of the year. The number of smart contracts deployed on the Cardano network when Altcoin Daily posted the tweet was around 4,000. Data from Cardano Blockchain Insights show that 4,050 smart contracts have been deployed at press time, thus representing over 300% growth on YTD.

Hoskinson’s Reaction

Commenting on the development, Hoskinson took a swipe at Cardano’s critics, who usually consider the network’s volume as a phantom.

It is worth noting that critics have often referred to Cardano as a “ghost chain” due to the network’s limited utility. Responding to these critics, Hoskinson often uses the “ghost” term to describe Cardano’s successes. As reported by TheCryptoBasic in May, Hoskinson noted that Cardano’s use of “ghost transactions” has been super effective after the network edged Ethereum in terms of transaction volume. 

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In September, the prominent cryptocurrency entrepreneur compared Cardano’s delegation transactions to ghost transactions. Rick McCracken of DIGI’s stake pools noted in a tweet that at least 1.2M transactions occur on the network every five days using zero bandwidth. 

Hoskinson reacted to the tweet“One could almost say that they are Ghost transactions.” 

Cardano Records Huge Growth

While critics do not get tired of trolling Cardano, the network has continued to achieve tremendous feats. Yesterday, decentralized applications on the network saw a spike in unique account growth, suggesting increased interest in Cardano-based dApp. Mutant NFTs led the ranking after their unique accounts surged over 2,600% in five days. 

It is not surprising to see Cardano record these wins in major areas because the team behind the blockchain is always prepared to provide important updates. Earlier this month, cryptocurrency data analytics platform Santiment ranked Cardano as the top-performing project in terms of development activities for November.

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Lele Jima
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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