Cardano is receiving a record amount of funding on its GitHub page as developers prepare their applications for new functions.
On-chain statistics show that the project touched 13,003 GitHub commits in June, making Cardano the top project in development activity in the past 30 days.
Peak development activity data comes shortly after the Vasil upgrade was hard forked on the testnet on July 4 and ahead of its much-anticipated deployment to the mainnet.
Cardano increases activity, wallets increase
During the month, Cardano saw a 1.8% increase in the number of wallets on the network, reaching over 3.4 million wallets. The number of transactions, which represent activity on the network, also surpassed 44 million, a 5.4% month-on-month increase.
The number of native tokens and Plutus scripts saw an increase of 6.4% and 3.4%, respectively.
Cardano also topped the development activity last year
Cardano also topped the development activity in September 2021. A report by Outlier Ventures found that the project accumulated the highest average commits per month in the past year before the Alonzo hard fork.
Just as the Alonzo hard fork was considered crucial for the inclusion of smart contract capabilities in Cardano, the Vasil upgrade is expected to significantly improve performance. This is also considered to be the most significant increase since Shelley deployed staking capabilities.
Cardano founder Charles Hoskinson called the Vassil upgrade the “next wave” of the network.
What will Vasil offer?
The Vasil upgrade will provide some key capabilities to enable the launch of further projects as well as offer an upgrade path to existing dApps (bringing more speed, transaction capacity and more powerful scripts).
In addition, the Vasil upgrade will include “Cryptographic Primitive Improvement” that enhances blockchain interoperability with a tuned Plutus interpreter.
The community asked for the hard fork to allow testing of the Cardano mainnet four weeks after the testnet hard fork.
Cardano is now home to 12 protocols
Since the Alonzo upgrade last year, the project now supports 12 protocols and is ranked 28th on the smart chain rankings on DeFillama. Net worth on the network Locked is upwards of $117 million at the time of writing.
However, Hoskinson previously stated that with a number of new decentralized projects (DApps) on the way for Cardano, the network is yet to reach its potential TVL.
Cardano price has not been able to break the broader calmness of the market. According to CoinGecko, ADA has lost 20% of its value in the past month.
As the coin hovers at $0.445876 and $0.469839 in the 24-hour range as of press time, it is down about 85% from its last peak of September 2021.