Cardano will start supporting ERC-20 today
The Cardano cryptocurrency is actively developing in anticipation of a new update. In a month, the number of active wallets has grown by 100,000. The network is expected to integrate with ERC-20 standard tokens, and this makes the blockchain more popular.
In 2022, the number of ADA cryptocurrency users reached a record 3 million. In the first quarter of this year, 450 thousand wallets were added, which is an average of 5 thousand per day. According to Cardano Blockchain Insights, a month ago the number of wallets was 3.159 million, and on April 17 this figure was already 3.253 million.
The rapid growth of the network is due to the imminent integration with ERC-20 tokens, which is scheduled for April 18, 2022. This will provide more opportunities for application developers to create cross-blockchain projects.
Integration with Ethereum-based tokens will be implemented by adding a special tool developed by IO Global. This is a converter that will allow you to transfer any ERC-20 tokens from the Ethereum network to Cardano for use.
The addition of this tool will have a positive impact on the development of the Cardano network and the ADA community. This will trigger the further development of the DeFi sector based on Cardano. Since this blockchain is cheaper and safer.
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