Details Regarding Cardano Network’s New Upgrade

8:49 am, Tue, 22 March 22

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Cardano (ADA) is one of the best performing crypto assets in the market and is also one of the most prominent ones. Several improvements have also been implemented on the Cardano network, which has led enthusiasts to believe that it is entering a new era.

The price movement of the ADA token has been quite impressive over the past week as well, as seen in this graph by CoinMarketCap.

ada-graph-22-03-2022

ADA is currently trading at $0.9376 (at the time of writing).

However, ADA’s price movement is not the only highlighting aspect that you should know about. As per reports, the company has revealed the latest update proposal, which is set to greatly benefit the network.

More details of the update are mentioned below.

Meanwhile, if you are interested in crypto investing, make sure you take a look at Cardano price prediction and then invest.

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Details of the Cardano Network Update

Cardano’s developer, Input Output Global (IOG) has been focused on improving the network and optimizing it. The latest update proposal revealed by the company is to increase the limit of per-block Plutus script memory units.

The unit limit is to be extended from 56 million to 62 million.

Cardano recently made a transition, which implemented the smart contract capabilities and Plutus is one of the most recent components of the network.

Plutus aims to remove friction from the DeFi sector and bring more users on board to the ecosystem. Not only this but Plutus also enables the users to leverage a programming environment. This enables the users to build their smart contract without:

  • Needing maintain code
  • Needing to use a full development environment  
  • Technical skills

It has also been made clear by the company that the upgrade proposal will assist the scalability of the network.

According to reports, the update was set to come into effect on March 21. The company highlighted that users should expect substantial growth where Cardano will become more optimized.

The Input Output Global (IOG) also stated:

As the ecosystem grows, we’re now focused on delivering the scaling phase of its roadmap; improving speed and network capacity while maintaining security and decentralization.”

What to Know as a New Crypto Investor?

As mentioned earlier, ADA is one of the popular altcoins. The network itself is quite advanced and keeps improving with time.

However, there are a few aspects every novice crypto investor needs to know before they dive into the crypto space.

One of the most important things you should know about is the significance of choosing a secure crypto exchange that suits your needs. The second thing you need to consider is keeping an eye on the price movement of the digital asset you want to buy and identifying the best time to invest.

If you are interested in ADA then make sure you take your time and find the best crypto exchange to buy Cardano.

On the other hand, if you are looking to invest in digital assets such as BTC or ETH then you can click on SwissBorg or Kraken (U.S. citizens).

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