The Cardano protocol has unveiled the latest set of updates released to its most important applications. The proof-of-stake (PoS) network is looking to reposition its chain in line with the growing competition in the market. In its weekly development report, Cardano revealed that a total of 1,358 projects are currently being built in its chain.
The Cardano protocol has unveiled the latest set of updates released to its most important applications. The proof-of-stake (PoS) network is looking to reposition its chain in line with the growing competition in the market. In its weekly development report, Cardano revealed that a total of 1,358 projects are currently being built in its chain.
To create a platform for these innovators to create usable applications, blockchain revealed that it had analyzed and implemented performance and tracking benchmarks for the Conway era. To do this, it revealed that DReps were injected and traced the DRep data, improving the error in the transaction generator tool.
With this update, the Cardano mainchain will benefit from relatively smoother transaction execution, providing users with an improved experience. In addition to this, the Cardano Hydra scaling protocol was refactored and detected discrepancies in network protocol versions.
In addition to this, Cardano said that its Catalyst Fund 12 Project is underway. For now, submissions remain open and interest has been registered from around the world. Former Project catalyst The programs proved successful, with new innovators joining Cardano at different times.
The Cardano development report comes at a time when the broader digital currency ecosystem is experiencing a bullish comeback. For a market with bearish tension for almost a week, the 2.97% jump in ADA price to $0.4636 brings bullish optimism.
With this recovery underway, the protocol upgrade is strategic, positioning it to leverage more market share in the Decentralized Finance (DeFi) ecosystem. With rapid usability, Cardano can start competing with protocols like Arbitrum (ARB), Polygon (MATIC), and other Ethereum-based protocols like EigenLayer.
The strategy remains to maintain a highly scalable network so that when the expected liquidity arrives, the infrastructure can meet demand. With the revival of market prospects, ADA recorded higher trading volume as it is generally confident in its increasing number of transactions to boost new liquidity.
