In an exciting development for Cardano, several key projects were tackled by their research and development team, Input Output, this week. Following challenges related to network issues, decentralized exchange swaps, and decentralized applications (dApps), the company took bold measures to resolve these problems. In response, ADA experienced an increase of 1% within just an hour of the announcement.
These highly anticipated improvements center around nodes, networking, and ledger. Faced with network issues earlier this month, Input Output focused on rectifying the situation. Among the enhancements, the cardano-js-sdk backend now incorporates Lace wallet, enabling users to import multi-address wallets such as Daedalus. In addition, the Adrestia team harnessed their expertise to separate the balance TX library,database layer, and the multi-signature wallet delegation functionality.
There are noteworthy developments in relation to Plutus smart contracts as well. Not only did the maintenance team address crucial bug fixes, but integration of standalone emulators with both Atlas and a Haskell interface are under way.
As a result of the myriad improvements by the Hydra and Mithril teams, Cardano’s network and nodes performance has seen a considerable boost. Clients can now successfully submit and validate transactions to their Hydra nodes.
These enhancements have a definite impact on the overall price of ADA. Decentralized applications and tokens on Cardano’s blockchain are thriving, and it appears the meme coin SNEK is no exception, rising 26% to reach an all-time high. Currently, ADA is trading at $0.36, with a 1% increase in the last 24 hours, primarily due to the announced key developments by the IOHK team.
Cardano influencer Dan Garmbardello is optimistic that ADA could reach $15 during the next bull market, and this optimism is backed by the continuous growth in the number of wallets on Cardano.
On the other hand, it’s essential to remember that the author’s views are subject to market conditions, and readers should conduct thorough market research before investing in cryptocurrencies. By doing so, investors can minimize potential financial losses resulting from fluctuations in the crypto market.