With its position as the eighth-largest cryptocurrency by market capitalization, Cardano is making waves with a flurry of Cardano developments and fresh upgrades. A recent weekly update from Cardano’s creator, Input Output Global (IOG), reveals that the network is buzzing with activity, hosting 157 new projects and supporting a total of 1,319 projects.
Key Developments on the Cardano Network
Cardano’s ecosystem is flourishing, as evidenced by the following statistics:
- A total of 9.45 million native tokens are spread across 93,021 token policies.
- Plutus v1 scripts have reached 6,332, while Plutus v2 scripts have soared to 17,531.
- The Cardano network has processed a staggering 83.4 million transactions.
Major Upgrades and Releases in 2024
The dawn of 2024 has ushered in a series of releases and upgrades within the Cardano network. The Marlowe team has announced the launch of Marlowe 0.3.0, hitting several milestones. The first Hydra release of 2024, version 0.15.0, has gone live. In addition, Cardano has rolled out node v.8.7.3, resolving a minor issue with the Ouroboros network. The Lace wallet has also been updated to version 1.8.
Recent Innovations and Collaborations
In recent weeks, the ledger team has introduced a host of new features, including new ledger events, an increase in the URL length limit, consensus queries, and JSON instances. The Mithril team has completed the client’s implementation in Explorer, enabling direct certificate verification from the browser. The team also upgraded the devnet to support the Conway era and activated the Mithril era marker reader on the Cardano chain during end-to-end testing.
Project Catalyst is approaching the conclusion of its community review moderation period, with over 70,000 moderations submitted by approximately 250 active level 2 moderators.
In the past decade and a half, quantum-enhanced protocols have proposed novel ways for financial systems to leverage quantum technology. To this end, IOG is set to support an upcoming workshop in collaboration with the School of Informatics Edinburgh, IOG Chief Scientist Aggelos Kiayias, Ethereum researcher Justin Drake, and other industry and academic specialists.
As of writing, Cardano’s ADA coin has seen a 3.62% increase in the last 24 hours, trading at $0.516.
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