Cardano blockchain and its legal custodian and corporate arm, Cardano Foundation, have emerged as very active in promoting the PoS network on a global level. This feed has now got them special recognition, making them one of the top performers in the world of blockchain projects.
CV Labs, a private capital equity firm and a crypto venture, has commended the strides made by multiple blockchain organizations. And among the 50 major crypto companies present in the ‘crypto nation.’ Switzerland, Cardano Foundation has recorded the highest increase in global valuation. The crypto outfit touched a valuation of $43.8B in 2021 and was only behind the Solano and Ethereum Foundation.
The success of the blockchain itself was highlighted in the report, which along with the spurt in ADA’s price are being considered as the two contributors to the impressive performance of the Foundation.
Over 900 Projects Presently Building On Cardano
The report noted that the token has reported a dramatic price increase, and it has also released an intelligent contract over its chain in the 3rd quarter. The report further revealed that the project remains research-heavy and is committed to peer reviews and has many innovative ideas up its sleeve.
The protocol’s activity has begun to heat up and 400 fresh projects are in the works alone after March 11. This comes after Tim Harrison, the IOHK VEP maintained that the tally now stood at approximately 500, conveyed through a LinkedIn post.
According to a post on Tuesday from IOHK, close to 900 projects are presently built over Cardano. And the numbers keep increasing every day.
Cardano is a decentralized public PoS blockchain created in 2017 by Charles Hoskinson. The Ethereum co-founder left his former company following disputes about the direction the network would take. IOHK has highlighted 6 projects, from decentralized finance applications to token swaps, proving the positive developments taking place in Cardano.
Founder Hoskinson has suggested that the Vasil Hardfork upgrade could turn the tide in June. He said that it would provide an enormous improvement in performance to Cardano and its capabilities for smart contracts.