Cardano (ADA) Hits New Milestone as Native Tokens Reach 7 Million

Cardano (ADA) Hits New Milestone as Native Tokens Reach 7 Million

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Tomiwabold Olajide

Cardano has now surpassed previous milestone reached in native tokens minted

The Cardano blockchain has reached a new milestone as it now has 7 million native tokens. According to data, the number of native assets minted on the Cardano blockchain is now 7,055,456 across 65,652 distinct minting policies.

In September, U.Today reported when the Cardano blockchain hit the milestone of 6 million native assets. Cardano native assets and NFTs bear similarities, technologically speaking, as they are both native assets that can be created using the Cardano node CLI.

Narrowing to specific details, in contrast to fungible native assets, which could consist of millions of interchangeable tokens, an NFT is a single native asset that is immutable and exists on the blockchain forever. To be considered an NFT, a native asset must fulfill additional standards.

In 2020, Cardano founder Charles Hoskinson predicted the development that is now seen on the Cardano blockchain. He predicted “hundreds of assets, thousands of dApps, tons of interesting projects and lots of unique and utility.”

While the prediction on assets has been exceeded, with millions of native tokens on the blockchain, Cardano is yet to match that on dApps.

The Alonzo hard fork deployment in September 2021 ushered in smart contract functionality that allowed for the development of dApps.

According to recent statistics provided by Cardano builder IOG106 projects have been launched on Cardano, while 1,146 are in various stages of development.

As reported by U.Today, Indigo Protocol launched the IUSD stablecoin, reportedly the first of its kind on the Cardano blockchain.

Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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