Over 500 projects are now building on Cardano as the ADA ecosystem continues to grow

In September 2021, the Cardano (ADA) network had a substantial upgrade that included the implementation of smart contract capabilities, which enabled the network to grow and operate at a quicker rate than it had previously been able to.

There are currently 517 projects being built on ADA as of March 11, including NFT collections, DeFi lending, and new wallets, according to Tim Harrison, the Marketing and Communications Director at Input Output Global, the creators of Cardano. NFT collections account for the largest share of the projects building on Cardano with 34.7%.