On Tuesday, February 1, Ethereum's rival Cardano announced another update for its blockchain network. Cardano's development studio, Input-Output Global, shared details of the update. These updates relate to Cardano's consent structure and data process specifications.
A push for his token
Input Output Global said the update will increase Cardano's block size by 11%, from 72KB to 80KB. Furthermore, the update will lead each Cardano transaction to use the increased "CPU", ie the number of memory units of the Plutus script.
These memory units per transaction have been increased by a whopping 1,5M, from 12,5M today to 14M. The enhancements will also provide additional resources to the Plutus scripts to enhance the overall DApp experience.
Both of these updates will be available on February 4th through Cardano's epoch 319. Additionally, they will also serve as a springboard for Cardano's scaling requirements amid growing demand. Since Cardano introduced smart contracts last September 2021, the demand for the platform has increased dramatically.
Well, this has also led to increased traffic on Cardano's on-chain application ecosystem. Last week, as we reported, the Cardano network blockchain load hit a new all-time high. Thus, the number of blocks used on the Cardano blockchain reached a staggering 95 percent. This speaks volumes about the growing demand for the Cardano blockchain in the crypto ecosystem.
The Cardano team plans with the update
After the implementation of this update, the Cardano team will monitor network performance just as the consensus enters the Basho phase. This phase is also about decentralization as well as the scalability of transaction processing for DApps and wallets.
Additionally, Cardano's team is also working on another major update to its consensus level dubbed “pipelining”. Also dubbed “diffusion pipelining”, this update will allow the blockchain to overlap transaction stages instead of processing them sequentially. This will significantly increase the speed of transaction execution as well as the transaction throughput of the Cardano blockchain.
These major developments coming to the platform will make Cardano (ADA) even more attractive for decentralized exchanges (DEX), high-performance DApps, and other NFT marketplaces. with this update, Cardano will also be able to introduce more sophisticated dApps architecture. As a result, the DApps will work faster and more efficiently.
Cardano's ADA has been one of the top-performing altcoins over the past year. There quotation of ADA climbed to $ 3 last September 2021. However, it has corrected by nearly 66% since then and is currently trading around 1. This would be a good time for investors to add ADA to their portfolio for the long. term.