September 18, 2021 / news

Only 1% Of Smart Contracts Are Working Properly On Cardano Blockchain

cardano

According to Adapools data, out of 2,352 smart contracts deployed on Cardano network, 2,333 have received a timelock status, which is about 99% of all decentralized apps. Only 1% of dApps are running at the moment.

This happened after the activation of Alonzo update, which opened the possibility of launching smart contracts on the Cardano network. Developers have previously warned that the technology is not yet perfect and many applications may malfunction or lack security.

Recall, Alonzo testnet was launched in early August. Then this implementation was heavily criticized by the community. Many software “testers” complained about bugs when trying to exchange tokens and provide liquidity, as well as the difficulty of running Minswap. It has been argued that Cardano’s decision to use the unspent transactions accounting model was the cause of these failures.

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