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3 Key Cardano Insights as Another Major Upgrade Is on Its Way

Fri, 02/24/2023 - 15:30
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Gamza Khanzadaev
Here are Cardano's key weekly insights as major governance upgrade is on its way
3 Key Cardano Insights as Another Major Upgrade Is on Its Way
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Cardano company-builder Input Output has published a fresh weekly report on ecosystem development. The report comes 10 days after the Valentine's Day update and before another important point on Cardano's roadmap, the transition to the Voltaire era.

The Voltaire era is the fifth and final stage of Cardano's development, according to the roadmap. As previously stated by Cardano's founder, Charles Hoskinson, Voltaire will show the rest of the industry how to implement decentralized governance. "Like we did with staking," the blockchain developer said.

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Cardano's busy week

The first of the key insights in the Cardano report is the increase in the number of smart contracts written in Plutus. As reported, an update on Feb. 14 was aimed at increasing the interoperability of the smart contract platform, and a week later, the number had increased by 59, two-thirds of which were written in Plutus V2. The total number of Plutus scripts reached 5,857.

It is also reported that the development team has continued to work on eliminating technical backlogs, improving infrastructure for testing and documentation for the formal CIP-1694 specification, which is a proposal to enter the Voltaire era.

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As part of the current era of scaling, called Basho, work has also been done in the past week on improving the Hydra contesters' workflow. The implementation of a seamless hard upgrade of the Mithril nets with the era switch behavior was also completed.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.