Cardano (ADA) has experienced remarkable progress in smart contract development since the start of the year. The number of Plutus scripts on the Cardano network, including Plutus V1 and V2, has surged by 171.45%, signaling an impressive expansion rate.

At present, the Cardano network is witnessing the addition of nearly 500 new smart contracts daily, according to data from Cardano Blockchain Insights. Notably, the network has achieved a total of 39,000 smart contracts, with a notable focus on the adoption of Plutus V2.

Plutus, a programming language designed for creating smart contracts on the Cardano blockchain, prioritizes security and reliability by adhering to functional programming principles. With the introduction of Plutus V2, developers have gained access to a range of enhancements and features aimed at improving transaction efficiency and scalability.

Breaking down the figures, there are currently 6,439 Plutus V1 scripts, representing a 2.27% increase since January 1, and 32,593 Plutus V2 scripts, marking a substantial 303.23% increase over the same period. On average, approximately 495 new smart contracts are added daily, with around 82 Plutus V1 scripts and 413 Plutus V2 scripts being added each day.

In addition to advancements in smart contract development, Cardano has seen significant growth in daily active wallets, reaching 600K. This surge in user activity coincides with the expansion of Cardano's decentralized finance (DeFi) ecosystem, which peaked at nearly $600M in early March.

Cardano has emerged as a leader in cryptocurrency development activity and weekly engagements, surpassing industry stalwarts like Ethereum and Avalanche.