The Cardano network has added 109.000 new ADA wallet addresses this November. This and more news is in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
Cardano: Over 100.000 New ADA Addresses in November
📍The number of new ADA wallets created this month has exceeded 100.000 units. According to data from Cardano Blockchain Insights, a total of 109.000 new ADA wallet addresses have been created so far this month. Currently, there are 3,74 million ADA wallet addresses created on Cardano.
At the beginning of this year, the total number of ADA wallets on Cardano was about 2,67 million, so this year more than 1,06 million new wallets have already been created for the cryptocurrency on this blockchain network.
Source: Cardano Blockchain Insights
In addition to this, Cardano’s smart contract ecosystem has grown by 310% so far this year, totaling 3.833 smart contracts currently.
Source: Cardano Blockchain Insights
Since Cardano implemented the Alonzo upgrade to support smart contracts on its platform in September last year, the network’s developers have been focusing on improving the blockchain’s capabilities and utilities, adding new protocols and decentralized applications to build DeFi.
Mastercard focuses on security and compliance in cryptocurrencies
📍Mastercard to launch service focused on cryptocurrency security and compliance American financial services company Mastercard has filed a patent application to create a security service for cryptocurrency transactions. The application was recently submitted to the United States Patent and Trademark Office (USPTO), trademark attorney Mike Kondoudis reported on his Twitter account.
Mastercard has been expanding into the crypto world with an increasingly Web3-centric approach. According to the patent application filed, Mastercard plans to create a new system that will monitor and analyze transactions made with cryptocurrencies and digital assets, in order to identify potential fraud, compliance, regulatory and reputational risks related to crypto asset transactions, it said. The company also wants to provide educational and corporate training services related to risk management in the crypto industry.
Global regulation of cryptocurrencies will restore confidence in the industry
📍Cryptocurrency fund manager Bitwise Asset Management believes crypto regulation is the key to regaining investor confidence in the industry. Bitwise Asset Management's Katherine Dowling told TechCrunch that cryptocurrencies are not dead and that creating new regulatory and legal frameworks that ensure investor protection will help restore confidence and, with it, the health of crypto assets.
Given the implosion of the FTX exchange and the consequences it has generated for the cryptoasset sector, global regulators are expected to increase their regulatory efforts next year and new bills focused on cryptocurrencies will emerge. Some of the regulators that have already spoken out about creating new regulatory frameworks for the crypto industry in 2023 are the Hong Kong Securities and Futures Commission, the European Parliament and the Bank of England, among others.
Continue reading: It's been 10 years since the first Bitcoin halving
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