Cardano’s 2024 Vision: Continuing 2023’s Development Success

2023 has been a big year of development for Cardano (ADA), and one of Charles Hoskinson’s latest X posts suggests its developers will be keeping their heads down in 2024 as well. According to the post, “2024 will be the Mithril age of Cardano”.

This made me very happy. 2024 will be the Mithril age of Cardano pic.twitter.com/Oo2Bk3X7xt

— Charles Hoskinson (@IOHK_Charles) October 6, 2023

Hoskinson also shared his expectations for what Mithril’s status will be next year. First, he predicts that the protocol will be up and running without interruption since epoch 425. Additionally, Hoskinson believes that the full node bootstrapping time will be reduced to under 20 minutes.

Chris O, a co-founder of the ADA Ghost Fund, also shared how impressed he is with Cardano’s development in his own X post on Friday. In his post, he compared Cardano’s Year-on-Year (YoY) development and growth.

In the past year, there has been a substantial increase of 24.8 million Cardano transactions, 44 more Cardano projects have been launched, the number of native tokens has surged by 2.9 million, and about 6,687 smart contracts have been introduced. Chris O believes this is huge for the project, especially considering the project achieved this in a bear market.

#Cardano fam, it’s the weekly dev update.

For a change wanted to compare today with this time last year.

In 1 year:

+24.8 million transactions
+44 projects went live
+2.9 million native tokens
+6687 Smart contracts

This is incredible YoY development and growth. Especially… pic.twitter.com/6JhYpaccE1

— Chris O (@TheOCcryptobro) October 6, 2023

In the past 24 hours, ADA was one of the many top 10 cryptocurrencies to see its price drop. At press time, the Ethereum-killer was trading at $0.2573 after its price slipped by 1.82% in the past day. This meant that ADA was trading just above its daily low price of $0.2572 after it was able to set a peak price of $0.2622 during the same time period.

Cardano (ADA) / Tether US 1D (Source: TradingView)

On the other hand, ADA’s intraday volume stood at around $114,294,380 after it experienced an increase of over 19% since yesterday. The altcoin’s market cap stood at $9,046,836,344, which ranked it as the 8th largest cryptocurrency by market capitalization. This placed it right on the heels of Solana (SOL) with its market cap of $9,664,560,693.

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