$ADA: There Are Currently 1,146 Projects Building on Cardano

As of Friday (25 November 2022), there are 1,146 projects powered by Cardano, but that’s just the tip of the iceberg as far as good news you will hearing about in this article is concerned.

As Olga Hryniuk, who works in the Marketing and Communications department of IO Global (IOG), the blockchain technology firm responsible for the development of Cardano ($ADA), reported on 25 November 2022 in her company’s latest Cardano Weekly Report, there are currently (as of the date of the report) 106 projects launched on Cardano, 1,146 projects building on Cardano, 6.9 million tokens, and 3,759 Plutus scripts; also, there have so far been over 55.3 million transactions.

For the sake of comparison, here are the numbers that IOG reported in the Cardano Weekly Report for the week that ended on 30 September 2022:

On Thursday (24 November 2022), two Cardano-powered projects — Ardana and Orbis — unexpectedly came to a halt, but this doesn’t seem to have dented the enthusiasm, passion, and optimism of the Cardano community presumably due to the rich depth of the ecosystem.

The two announcements came or less at the same time.

First, at 1:24 a.m. UTC on 24 November 2022, Orbis Labs, which is behind Orbis — “a layer 2 zk-rollup scaling solution on Cardano built to support decentralized finance applications and a thriving blockchain ecosystem” — announced that it was “unable to continue building”:

Then, roughly 20 minutes later (i.e. at 1:44 a.m. UTC on 24 November 2022), the Ardano team, which was working on “the first all-in-one stablecoin ecosystem built on Cardano”, announced that “due to recent developments with regards to funding and project timeline uncertainty, the Ardana project has had to come to a halt”:

Here were a few reactions from the crypto community:

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