The cryptocurrency market is starting to recover after a tough downturn. Meanwhile, Cardano (ADA) is one of the biggest gainers, at least on a weekly basis, and behind it is some important news on the network. Here are the details…
Important dates have been announced for Cardano (ADA)
Cardano is getting ready for the second biggest update in its history after Alonzo hard fork. Vasil is seen as quite important to the entire ADA ecosystem. The announcement of the activation of Cardano’s Vasil hard fork combined with the broader market recovery, and Cardano pretty much blew up. The team will move Vasil to the Cardano testnet, then with the integration of exchanges and the eventual execution of the hard fork, ADA will continue to attract attention going forward.
Block production is fully decentralized in #Cardano. Next up, full P2P network #Decentralization.
Great to share this next milestone – a real P2P node in action – in this visualization fresh today from our brilliant @IOG_Eng team 👍https://t.co/LkkumvVuwZ @Cardano pic.twitter.com/XxtJchtepF
— Input Output (@InputOutputHK) May 6, 2021
One of the biggest updates to Cardano reference scripts will fetch inline data and reference entries. All the improvements are expected to greatly increase the throughput of the network and make Cardano’s layer-1 network one of the most effective chains in the network. One of the most important updates will be reference scripts that make transactions on the network smaller and cheaper by referencing existing scripts that are pre-recorded from old transactions.
What to expect for the update? With the release of
P2P functionality, Cardano will move one step closer to complete decentralization. After the implementation of the new functionality, end users will discover nodes without relays. One of the most anticipated solutions coming to the network is the launch of the algorithmic DJED stablecoin. The variety of decentralized solutions and applications that Cardano is preparing to launch this summer aims to attract users and investors from all over the industry. At the same time, the CEO of Input Output Hong Kong (IOHK) and the founder of Cardano is actively discussing bills and regulations with policymakers in the field of crypto regulation.
Cardano will attend the Consensus 2022 conference scheduled for June 9 and the NFT.NYC event scheduled for June 20. The Vasil hard fork is expected to take place before June 30, while the Rare Bloom Cardano community event will take place in the fall of 2022. ADA is changing hands at $0.60 at the time of writing.
