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Cardano founder praises the rate of building projects on the Cardano blockchain and sees a boom on the way

Cardano founder praises the rate of building projects on the Cardano blockchain and sees a boom on the way

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Answer Cardano founder praises the rate of building projects on the Cardano blockchain and sees a boom on the way

Charles Hoskinson, the founder of Cardano, responded to a tweet indicating that there are more than 517 projects now being built on the Cardano ecosystem, and said that an explosion in the number of decentralized applications is on the way.

The CEO of IOHK stated:

A big wave will come after June when the split and Vasil’s highly anticipated upgrade happen.

Read:Bitcoin is rebounding strongly after hitting its lowest level in 7 weeks

Cardano’s founder provided a similar response and hinted that the growth in total closed value (TVL) in Cardano is just beginning.

TVL Locked Value in Cardano is growing at a rapid pace…Learn the factors behind it!

The promotion in question, mentioned in Hoskinson’s tweet, is named after the late Vasyl Dubov, a Bulgarian mathematician who was a prominent member of the Cardano community.

The upgrade is expected to take place in June.

With more than 517 projects built on Cardano, the network has made several achievements in recent months, for example the figures related to Total Locked Value (TVL) mentioned in the underlined address above.

It is referred to the total value of the crypto assets that are held in a decentralized finance system or DeFi protocols in general.

IOHK indicated in a post that it intends to compile multiple versions of the code to improve the delivery predictability of the Cardano ecosystem with the launch of more decentralized applications (DApps) and decentralized trading platforms (DEX) in the coming months.

The company says it plans to roll out a large number of improvements in 2022, with a focus on improvement divisions and upgrades in June and October.

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Despite building the foundation for future improvements in the Cardano ecosystem, the price of ADA failed to catch up.

The ADA is currently trading at $0.79, down 75% from its all-time high of $3.10.

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