{"id":12243,"date":"2021-09-17T16:54:02","date_gmt":"2021-09-17T16:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/over-2300-cardano-smart-contracts-are-waiting-in-timelock-ada-price-slides-20-over-2-weeks\/"},"modified":"2021-09-17T16:54:02","modified_gmt":"2021-09-17T16:54:02","slug":"over-2300-cardano-smart-contracts-are-waiting-in-timelock-ada-price-slides-20-over-2-weeks","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/over-2300-cardano-smart-contracts-are-waiting-in-timelock-ada-price-slides-20-over-2-weeks\/","title":{"rendered":"Over 2,300 Cardano Smart Contracts Are Waiting in Timelock, ADA Price Slides 20% Over 2 Weeks"},"content":{"rendered":"

Following the successful Alonzo hard fork, the Cardano network now has a large swathe of new smart contracts. However, developers must wait to use them as they are locked in a timelock contract. At the time of writing, metrics show an aggregate total of 2,352 smart contracts since the Alonzo upgrade was implemented. <\/strong><\/p>\n

Cardano Has More Than 2,300 Smart Contracts Waiting to Be Deployed<\/h2>\n

The Cardano (ADA<\/a>) network <\/span>upgraded<\/span><\/a> last week and since then the most topical conversation among ADA<\/a> proponents is smart contracts. The use of smart contracts on the Cardano network has been a holy grail of sorts for ADA<\/a> fans and even skeptics. <\/span><\/p>\n

Critics have wondered why ADA<\/a> has been the third-largest crypto asset by market capitalization well before the protocol had smart contract capabilities. Meanwhile, networks like Terra, Avalanche, Solana, Binance Smart Chain, and more have been gathering steam as they already have compatibility with Ethereum and smart contract benefits.<\/span><\/p>\n

Image via smartcontracts.vercel.app.<\/p>\n

Data shows on September 17, 2021, there are now <\/span>2,352 smart contracts<\/span><\/a> introduced to the Cardano protocol, but right now the contracts are unusable and are locked in a timelock contract.<\/span><\/p>\n

<\/p>\n

Wait on Smart Contracts May Be Affecting Cardano\u2019s Price Negatively<\/h2>\n

Essentially, while the capabilities are there, developers still need to wait to deploy decentralized finance (defi) projects, decentralized applications (dapps), and other concepts like tokenization and non-fungible tokens (NFTs). A number of projects are ready to deploy new protocols and ideas like Cardax<\/a>, Liqwid<\/a>, and Singularitynet<\/a>. It\u2019s possible that the wait for these smart contracts has been affecting ADA<\/a> markets in a negative manner.<\/p>\n

Cardano (ADA<\/a>) is still the third-largest market valuation among all the cryptos in existence. However, since the upgrade, seven-day stats show a 6% loss in ADA<\/a>\u2019s fiat value and 14-day stats indicate ADA<\/a> has lost 20.2%. Metrics also show that 57.16% of all ADA<\/a> trades on September 17, are swapped with tether (USDT<\/a>).<\/p>\n<\/p>\n

This is followed by BUSD (9.22%), BTC<\/a> (9.10%), USD (6.59%), KRW (5.28%), and EUR (4.69%). ADA<\/a> is down 23.5% since the crypto asset\u2019s all-time high (ATH) 15 days ago at $3.09 per unit on September 02, 2021.<\/p>\n

What do you think about Cardano\u2019s smart contracts and how developers must wait to use them? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nTechnology, 20% Down, 2300 Smart Contracts, ada, ADA Price, alonzo, Cardano, Cardano Price, Cardano Smart Contracts, Ecosystem, Ethereum, Plutus, Smart Contracts<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the successful Alonzo hard fork, the Cardano network now has a large swathe of new smart contracts. However, developers must wait to use them as they are locked in a timelock contract. At the time of writing, metrics show an aggregate total of 2,352 smart contracts since the Alonzo upgrade was implemented. Cardano Has…<\/p>\n","protected":false},"author":0,"featured_media":12244,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12243"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12243"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12244"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}