Cardano On-Chain Data Shows Network Expansion, With Distinct Minting Policies Exceeding 58K

Cardano iog

According to on-chain data from the Cardano Foundation, the Cardano network has recorded 58,993 (58.9K) distinct minting policies. This represents a 3.5 percent increase over the previous month’s figure.

A Cardano policy is a script that specifies who has the authority to mint tokens on the blockchain and how long it will take to mint the tokens.

The leading blockchain project also saw a significant increase in the number of on-chain transactions. According to the data, on-chain transactions increased by 4.9 percent to a whopping 47 million.

Read also: The Cardano Decentralized Application (dApp) Browser for iOS Has Been Released

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

According to Cardano Foundation data, a total of 5.7 million native digital assets have been issued on Cardano, representing a 6.34 percent increase over the previous month’s record.

In addition, the number of Cardano wallets increased by 2.27 percent in the last month, bringing the total to 3.5 million. Similarly, the number of Cardano delegated wallets has increased by 0.34 percent to 1.17 million.

Cardano’s Plutus script increased by 4.76 percent in July over the previous month’s record. By the end of July 2022, the Cardano network had recorded a total of 2,993 Plutus scripts.

Cardano Experiences Consistent Network Growth

Cardano is gradually becoming accustomed to experiencing rapid growth across the network. In addition, the increase in Cardano’s monthly on-chain statistics suggests that the blockchain is becoming more popular.

Cardano provides its users with many exciting features, such as fast and low-cost transactions and maximum security.

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Input Output Global (IOG), the team in charge of Cardano’s research and development, is constantly devoting resources to development activities and securing Cardano users and the blockchain.

It is worth noting that, unlike other proof-of-stake chains such as Ethereum and Solana, Cardano has not experienced any downtime since its launch in 2017.