News

Following the roll-out of Cardano’s smart contracts, the team focuses on scaling and optimization

  • The team behind the Cardano project is preparing to improve the network by focusing on scaling and optimization.
  • Solutions on a chain, such as increasing block sizes, will be rolled out simultaneously with off-chain solutions such as connecting independent blockchain (Sidechains).

Last year, Cardano celebrated a major milestone in the deployment of smart contracts on its mains. Since then, the network has been widely embraced as it seeks to remove its immediate rival, Ethereum. In its efforts to do so, Input-Asput Hong Kong (IOHK), the developer behind the Cardano blockchain, is taking an interest in scaling and optimizing the Cardano project. In a recent blog post, the team shared their thoughts and how they plan to achieve it.

Ethereum, Cardano’s main competitor, has struggled with scaling and optimization for years. Already today, Cardano has higher and lower speeds due to the adoption of the Proof of Bet mechanism compared to Ethereum Proof of Work.

With Ethereum already working on optimization and scaling with the long – awaited release of Ethereum 2.0, Cardano plans to stay ahead of the curve and has outlined a number of ways he plans to to improve the network. There are some

Increase block size

As you know, the larger the block, the more transactions can be made. With this in mind, the IOHK is working to increase the block size. Recently, the team notes that the block size has increased by 8KB to bring the total block size to 72KB (12.5% ​​increase), as overall health has improved.

CPU memory and usage

Plutus – the smart contract language used in the Cardano project – is being actively enhanced, with the latest enhancements coming in the form of «memory enhancements on unattended transaction output (UTXO), bet distribution, live bet distribution and pools, and representation hash. «

Script enhancement

Similarly, the team intends to ensure more efficient use of the powerful EUTXO model. This will be achieved through Reference Entries (CIP-0031), Plutus Datums (CIP-0032), and Script Sharing (CIP-0033).

Node upgrade and disk storage

Two other blockchain enhancements that IOHK is looking at are node enhancements to help distribute bet and reward calculations over time, as well as store parts of the protocol state on disk. Both of these will significantly improve the blockchain, resulting in a better and more scalable network.

Cardano off-chain solutions

In addition to the aforementioned chain solutions intended by the platform, there are a number of off-chain solutions to alleviate the problem. Activities like Sidechains deployment will allow «tokens and other digital assets from one chain to be used in another chain.» This is through a two-way system called «the bridge.»

Hydra, which helps to process off – chain transactions more efficiently, and Mithril, which helps with scalability, are also part of the project. In addition, off – the – chain computing will be used to improve network efficiency by unloading multiple computers which will ultimately make the transaction much faster and cheaper.

Cardano Price Update (ADA).

After a great performance in the first half of 2021 that had reached the top three bases below the market limit, Cardano ADA’s native signal has been delayed. ADA has lost nearly 60 percent of its value since its peak of $ 3.00 in September. This weekend, the altcoin is in the lock and trading around $ 1.30, having added just under 5 percent in the last 7 days.

Despite the slow start to the year, many investors and analysts prefer altcoin. One of them is Lark Davis, who named her among his top ten picks for 2022.

Escher Booko

I am fascinated by the complex possibilities of blockchain technology and try to make the subject accessible to everyone. My goal is to make the world aware of cryptocurrencies in a simple and understandable way. I believe that cryptocurrencies and blockchain technology will have a great positive impact on people's lives.

Latest Publications