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IOHK announces that over 500 projects are under development on Cardano

More than 500 projects are now being built on Cardano, according to Tim Harrison, a director at IOHK. The vast majority of them are said to be in the NFT field. As per the Marketing and Communications Director of Input-Output Honk Kong, Cardano’s network is receiving tremendous attention.

Cardano completed one of the most significant Mainnet upgrades, known as Alonzo, in September 2021. It was part of Cardano’s Goguen epoch development cycle, and the most essential aspect of it was the incorporation of smart contracts.

Since then, the network has undergone more significant enhancements and has seen major advances. Orbis, the first scaling solution based on ZK Rollups, was one of several. According to Tim Harrison, this has resulted in a slew of initiatives based on Cardano.

In a recent statement, Tim emphasized how Cardano’s ecosystem continues to expand, with over 500 projects currently based on the cryptocurrency, ranging from NFT collections to DeFi lending and unique wallets.
He also showed gratitude to the entire IOG team for continuously pushing the platform forward and congratulated the creative and committed group of builders who are behind the project. He ended that this is just the beginning for Cardano.

Photo by Ruben Hanssen

About the author, Deyvid Stoyanov

Deyvid developed his passion for technology, innovation, blockchain and decentralization throughout his bachelor and masters degree studies in Bulgaria and Italy. With several years of experience in the private sector, he is currently part of the FinTech Legal Center Tallinn-based team and remains immersed in the transformation of the financial and banking sector, the adoption of blockchain and cryptographic technologies as well as their interrelationship with state supervisory authorities and the European regulatory structure.

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Estonian Crypto Licenses is a trading name of TechIuris OÜ, a company based in Tallinn, Estonia and specialised in legal and compliance solutions for European FinTech companies. We are a fully licensed company, and EVEA and e-Residency marketplace members. Here on our blog, we share the latest news on topics such as NFTs, cryptocurrencies, blockchain and much more.

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