Payments in Cardano’s native cryptocurrency $ADA are now available to more than 7 million users through a newly launched ADA Pay plugin developed as part of COTI’s Project Catalyst challenge.
According to a Medium post, the ADA Pay plugin is on Odoo (On Demand Open Project), an open-source solution for business applications with more than 7 million users. Its applications have been adopted by several firms, ranging from startups to large enterprises.
The ADA Pay plugin was described as “one of the first necessary steps in bringing $ADA to the masses.” The post reads:
“The ADA payment system for businesses, built on the Cardano blockchain, allows merchants to accept ADA as a payment method with instant settlement.“
As part of Project Catalyst, other teams have also created another ADA Pay plugin for eight different shopping platforms including WordPress, Joomla, and WooCommerce, the post adds. Several teams were invited to develop ADA Pay solutions, and 5 out of 16 submissions ended up being funded.
The plugin’s launch was celebrated by the Cardano community and described as “big win for COTI, Project Catalyst, and Cardano.”
The new launch comes at a time in which the number of smart contracts deployed on the Cardano network is nearing a new milestone, as developers are increasingly working on the cryptocurrency as its ecosystem develops and its decentralized finance (DeFi) space grows.
According to data from Cardano Blockchain Insights, there are now a total of 2,90 Plutus-based smart contracts deployed to the cryptocurrency’s network, placing it within 100 smart contracts of the 3,000 milestone.
Plutus, it’s worth noting, is the “smart contract platform of the Cardano blockchain” that allows users to “write applications that interact with the Cardano blockchain.”
The network is now anticipating the Vasil hard fork, which is expected to bring in a “massive performance improvement.” The Vasil hard fork is a major upgrade that will involve four Cardano Improvement Proposals (CIPs).
As CryptoGlobe reported, an artificial intelligence-based price prediction model is suggesting that the price of Cardano’s native token ADA is going to surge to trade at $2.9 by September of this year, representing a 530% increase from the cryptocurrency’s current price.
Featured image via Unsplash