Over 200 smart contracts listed on the Cardano waiting to be released

More than 200 smart contracts have been listed on the Cardano blockchain explorer following the Alonzo upgrade on September 13 — but how many are live?

Over 200 smart contracts listed on the Cardano waiting to be released

As of now, the smart contracts on the Cardano are in a timelock and cannot be used by developers until they’re released.

Smart contracts have been a long-anticipated feature on Cardano since its launch in 2017 and the functionality was finally enabled with the recent Alonzo hard fork.

According to the report, the founder of Cardano and IOHK Charles Hoskinson said on September 17 that the DeFi space is up for grabs, now that Cardano supports smart contracts.

Hoskinson said that the winners of what he called the "second wave" of DeFi were going to have liquidity and interoperability, the ability to move multi-chain, and cost predictability. “We need governance, we need certification, we need insurance, we need regulation on these things, metadata identity… at the same time, you need to decentralize,” he added.

Cardano is Ethereum Virtual Machine (EVM) backward-compatible and is hoping to attract DeFi developers who wish to save money on transaction fees.

The Cardano price saw a huge 170% price run up since mid July but it's currently about 20% down from its all time high of $3.09 at the start of the month. ADA is currently trading around $2.42.

Read: Avalanche Foundation raises $230M to support DeFi ecosystem