27 Nov 2022

At Present, 1,146 Cardano-Based Projects Are Under Construction

There are 1,146 Cardano-powered projects, and the node team is collaborating with other teams working on release process improvements.

By: Flagship Team

According to the most recent Cardano Weekly Report published by IO Global (IOG), the blockchain technology company behind the development of Cardano ($ADA), on 25 November 2022, there have been over 55.3 million transactions conducted on Cardano, with 106 projects having been launched on Cardano, 1,146 projects building on Cardano, 6.9 million tokens, and 3,759 Plutus scripts.

Here are IOG's reported numbers for the week ending 30 September 2022 as published in Cardano Weekly Report

Even though Ardana and Orbis, two Cardano-powered projects, abruptly ceased operations on Thursday (24 November 2022) for unknown reasons, the Cardano community's enthusiasm, passion, and optimism appear to be unabated, likely because of the depth of the Cardano ecosystem.

The timing of the two announcements was almost identical.

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

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">Hey all of <br><br>Unfortunately due to constrained funding and uncertain conditions, Orbis Labs is unable to continue building and the project as come to a halt. This is unfortunate given the amazoing research and work that has been produced.</p>— Orbis (@orbisproject) <a href="https://twitter.com/orbisproject/status/1595589252330536960?ref_src=twsrc%5Etfw">November 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">Hello Ardana community,<br><br>Unfortunately due to recent developments with regards to funding and project timeline uncertainty, the Ardana project has had to come to a halt. Our code will remain open source for builders to continue our work going forward as they wish.</p>— Ardana - DeFi Hub of Cardano (@ArdanaProject) <a href="https://twitter.com/ArdanaProject/status/1595594077260709888?ref_src=twsrc%5Etfw">November 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Here are some responses from the cryptography community:

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">Cardano DeFi is still in a good place. We can use a sophisticated trading platform (Axo), pooled lending (Liqwid), more stable coins (coming) + reiterate dapps/add flavours of them for decentralisation. But really 90% of tooling is there, now need to build up liquidity & activity</p>— ADA whale (@cardano_whale) <a href="https://twitter.com/cardano_whale/status/1595753950510469121?ref_src=twsrc%5Etfw">November 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">Ardana and Orbis projects are on hold, maybe rugged. It sucks but this is happening and will happen in every ecosystem. <a href="https://twitter.com/hashtag/Cardano?src=hash&ref_src=twsrc%5Etfw">#Cardano</a> is not an exception. Many other teams are continuing development. For example, a few days ago the Indigo project launched the first stablecoin iUSD.</p>— Cardano YODA (@JaromirTesar) <a href="https://twitter.com/JaromirTesar/status/1595677000068435968?ref_src=twsrc%5Etfw">November 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">It is hard to build projects on Cardano but it is literally impossible to build anything on Bitcoin! Cardano was designed for professionals and separates the wanna be developers from those who understand what is going on. Cardano's technical difficulty is a form of security!🏄</p>— Lucid (@LucidCiC) <a href="https://twitter.com/LucidCiC/status/1595726232121118723?ref_src=twsrc%5Etfw">November 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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