Cardano follows the general sentiment in the market as it records a 4.2% profit in the last 24 hours. The price of ADA trades north of $0.96 with a 12.6% profit in the last 7 days.
ADA with moderate profits on the 4-hour chart. Source:
Cardano seems to benefit from an overall increase of demand across digital assets and potential mitigation of macro-economic headwinds for risks-on assets. In addition, the network seems to be steadily moving towards new improvements.
Per a recent update from Input Output Hong Kong (IOHK), the company behind Cardano’s development, the network recently saw the implementation of the first of 3 major updates. IOHK claims the core network was upgraded and was introduced to “powerful improvements and enhancements”.
The company has been preparing to introduce these changes on the network, to Tim Harrison, Marketing and Communications Director at IOHK, after the successful implementation of smart contract capabilities. IOHK :
This February release is part of a broader plan of core Cardano optimizations and enhancements being delivered in 2022. These include key elements of our scaling plan like pipelining, significant performance improvements to Plutus, Hydra and input endorsers.
Additionally, the company confirmed the deployment of complementary products and architecture, such as light wallets and UTXO on-disk storage, a dApp store, and a certification program. IOHK also claimed they will release new APIs and development tools, sidechains, and a fast synchronization solution.
In order to meet their optimization and scalability goals, Cardano will see parameter adjustments across the year. The company claims these changes will be implemented “steadily” to guarantee the safety of the users. IOHK added:
While you can still expect high network loads at times – e.g. around highly-anticipated launches & NFT + token drops – through methodical adjustments you’ll steadily see headroom expand as the ecosystem grows. All the while maintaining the robustness & security of the network
The Improvements Released On Cardano
Harrison clarified some of the previously mentioned improvements, such as the ability to create transactions with CDDL which will make developers less dependable on third-party tools. Also, ADA users will be able to leverage incremental multi-signature transactions.
In addition, IOHK has implemented improvements on the network Command Line Interface (CLI). Thus, stake pool operators (SPOs), developers, and users can benefit from more predictable transactions, mempool inspection tools, and leadership schedule tools.
Harrison added the following on the recently introduced and the upcoming updates with two Hard Fork Combinator (HFC) events expected for June and October 2022:
In combination with parameter adjustments, these features will enhance Cardano’s throughput and optimize the system to accommodate an increasing range of decentralized finance (DeFi) apps, smart contracts, and DEXs.
Despite its recent price action and improvements, some users have expressed “frustration” over the pace at which the ecosystem is growing. The opposite view from other users places more value on a slow, but steady development that will bring benefits for the long run.
My gripes and frustation of only a month ago is gone. Having a chain that behaves predictably and reliably are core essentials that are now delivering. I've hated the scale it slowly approach, but BOY, it's soon forgotten when it now proves it by delivering!!
A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.
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