Smart contract executions on the Cardano (ADA) blockchain increased significantly, especially with the Plutus V1 and V2 scripts. In the meantime, Polkadot (DOT) suffered a blow in the middle of January 2024, going through a significant price drop following a positive performance in the months before.
In the middle of this, BlockDAG (BDAG) presale raised over $1 million in 24 hours, amassing huge attention from investors. With an ambitious $600 million roadmap, the presale coin offers state-of-the-art technology that promises safe mining, improved performance, and the incorporation of smart contracts via its layer one technology.
Cardano’s Plutus Smart Contracts
The Plutus V1 and V2 scripts from Cardano are being used more frequently, according to data from Cardano Blockchain Insights. 24,050 smart contracts have been carried out with the help of these Plutus scripts as of January 22. Considering that this number was 14,379 at the start of the year, this is remarkable. When smart contract usage on the network started taking off on January 9, that’s when the latest spike can be attributed.
In particular, on that day, 12,890 Cardano smart contracts were executed on Cardano utilising the Plutus V2 scripts, up from 8,270 the day before. That number has soared to 17,718 since then. It’s crucial to bring up BlockDAG while discussing technology because its layer 1 blockchain technology allows for scalable throughput and quick confirmation times. BlockDAG’s technology attracts investors to be part of its community.
Will Polkadot Bounce Back?
Polkadot price saw substantial gains erased in mid-January 2024 due to a severe price correction despite a robust bullish performance in the latter two months of 2023. DOT’s opening price for the year was $8.5989. DOT had decreased by 11.9% to $7.5693 by January 12. By January 25, DOT had dropped 14.9% to $6.4345 as market pessimism grew. It is up to dispute whether Polkadot will fully recover or even how long it will take.
Analysts with a bullish outlook predict that the much-anticipated Polkadot 2.0 updates will increase network traffic. However, from a bearish perspective, as long as the market is experiencing a downturn, investor mood will stay poor. Should nothing change, DOT might drop to $5.4072, a 15.9% decrease.
BlockDAG: Next-Gen Crypto Tech
With its innovative Directed Acyclic Graph structure, BlockDAG is a proof-of-work consensus mechanism that aims to revolutionize the crypto industry. In contrast to traditional blockchain technologies, BlockDAG puts security first and promotes environmental responsibility, opening the door for long-lasting digital transformations. BlockDAG’s remarkable speed and efficiency set it apart from its successors.
BlockDAG maintains the pace and raises the bar by striving to accomplish more than 30 blocks per second, with a maximum speed of 10 blocks per second. Users may access secure mining, better performance, and smart contracts with BlockDAG’s Layer 1 technology. Furthermore, the cryptographic algorithms of BlockDAG protect against possible attacks, ensuring the security of transactions and demonstrating hashing efficiency that surpasses that of conventional systems such as SHA 256.
Don’t Miss Out in 2024
The expansion of the Cardano ecosystem underscores the growing significance of smart contracts as Polkadot maneuvers through a challenging market and ignites discussions about its prospects for recovery. In light of these, BlockDAG Network answers investors’ questions and promises a good investment due to its dedication to efficiency, security, and environmental responsibility. BlockDAG is one of the best crypto coins to watch closely in 2024.
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