Cardano Blockchain Records New Milestone in Minted Token Count

With 7 million ADA now in existence, the Cardano blockchain has passed a significant milestone. Data from pool.pm shows that 7,055,456 native assets have now been created on the Cardano blockchain using 65,652 different minting policies.

#Cardano has surpassed 7,000,000 native tokens!$ADA pic.twitter.com/zk8bpnhj7b

— Dan Gambardello (@cryptorecruitr) November 27, 2022

This is coming two months after the blockchain crossed the 6 million token count in September 2022. In terms of technology, ADA-based assets and NFTs are similar because they are both native assets that can be built using the Cardano node CLI.

To be more precise, an NFT is a single native asset that is immutable and exists on the blockchain forever, as opposed to fungible native assets, which could include millions of interchangeable tokens. Additional requirements must be met for a native asset to be categorized as an NFT.

Interestingly, Charles Hoskinson, the founder of Cardano, predicted the current metric or milestone being reported today in 2020. At the time, he asserted: “Hundreds of assets, thousands of dApps, tons of interesting projects and lots of unique and utility.”

That said, while the number of native tokens on the blockchain has exceeded expectations in terms of assets, Cardano has yet to catch up in terms of dApps.

Smart contract functionality was introduced with the Alonzo hard fork deployment in September 2021, opening the door for the creation of dApps. Recent data from Cardano builder 10G shows that 106 projects have been launched on the network, while 1,146 more are in various stages of development.

Cardano to Release New Stablecoins

In other news, the Cardano team recently announced that they are working towards introducing two new stablecoins on the blockchain in 2023. The stablecoins include the USDA, a USD-pegged stablecoin developed by Emurgo, and DJED, an algorithmic stablecoin.

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