Cardano Sees Effect of Upgrade, Adds Over 100 Smart Contracts - BeInCrypto

Cardano: The effects of the Vasil upgrade are already showing, with the blockchain adding 100 new smart contracts in the two weeks since it completed the hard fork.

The network’s upgrade helped improve its smart contract capabilities and scalability. With 100 new smart contracts, the upgrade appears to live up to its billing.

Available data showed that the network reached the milestone of 3000 smart contracts in August and had 3,292 by September 22, when the Vasil hard fork happened. As of press time, that number had increased to over 3,400.

Staking declines

However, the hard fork has not significantly impacted staking activities on the network. The platform’s total value locked (TVL) has not increased since the Vasil upgrade. In fact, the opposite has happened. Cardano’s TVL, as of October 9, is at $75 million.

The total number of staked ADA increased slightly after the hard fork, reaching as high as $148 million on October 3. However, this is still far from the peak TVL of $326 million reached on March 24, 2022.