Cardano’s efforts for scaling seem promising, but is ADA well-guarded
- Cardano posted its weekly development report, highlighting the efforts made by its developers.
- ADA’s price registered gains last week, but in the last 24 hours, it went down.
Cardano [ADA] has been putting much effort into scaling the blockchain of late. Cardano’s roadmap mentioned its fourth era, named BASHO. This was an era of optimization that would improve the network’s scalability and interoperability.
Read Cardano’s [ADA] Price Prediction 2023-24
All about BASHO
Basho focuses on enhancing the Cardano network’s fundamental performance to better facilitate application growth and adoption for high transaction volume apps.
Cardano’s roadmap said that during the BASHO era, Cardano will develop into one of the most performant, durable, and adaptable blockchain systems on the market.
Cardano, in its latest weekly development report, highlighted the efforts made by various teams to accomplish BASHO’s goal.
Another week, another #Cardano development update, now live on #EssentialCardano.
Check this week’s highlights and get the latest on core technology, wallets and services, smart contracts, and scaling and governance developments. https://t.co/Uqy5Hr16nQ
— Input Output (@InputOutputHK) March 24, 2023
As per the report, the Hydra team continued to work on a golden test suite for Hydra Plutus scripts while also working on hydra-node mainnet compatibility.
In preparation for the mainnet beta release, they also added some detection of hydra-node misconfiguration. And established a mainnet limit of 100 ADA per change and took care of related tasks over the last week.
The Mithril team continued implementing the migration of the aggregator stores to a relational design and completed the adaptation and migration of the stake pool store.
Additionally, they refactored the multi-signer so that it could sign multiple messages simultaneously. The team successfully completed testing to create certificates and snapshots on a network operating on the Cardano mainnet and fixed issues with deadlocks on the SQLite connections.
Other notable updates
The team’s release of node v.1.35.6, which introduces dynamic P2P networking to the mainnet, was another significant development. The IOG also invited all community members to a conversation on 30 March regarding its CIP-1694, which is a proposal for Cardano’s on-chain governance system.
The report also mentioned the updated statistics of the Cardano network. The network’s total number of native tokens reached 8.03 million, and the total number of transactions exceeded 63 million.
How much are 1,10,100 ADAs worth today?
A quick look at ADA
While the developers kept working on different projects, ADA’s price action remained supportive of the investors. It increased by over 2% last week.
According to CoinMarketCap, the token was trading at $0.3611 at press time with a market capitalization of over $12.5 billion. However, the uptrend seemed to have come to an end as ADA’s price declined marginally in the last 24 hours.
Source: CoinMarketCap
