Cardano's ADA token surged by 8% on Tuesday following the announcement that the Valentine upgrade had gone live on the Cardano mainnet.
Input Output Global (IOG), the company behind the development of Cardano, announced the news in a tweet on Valentine's Day, stating that the upgrade includes support for Plutus SECP cryptographic primitives.
In a subsequent tweet, IOG explained that interoperability is essential for blockchain growth and that native support for SECP fosters cross-chain interoperability while ensuring the highest level of security.
The Cardano Valentine upgrade allows developers to create cross-chain decentralized applications (DApps) that are secure, reliable, and cost-effective.
To make it easier for developers to build cross-chain applications, IOG is adding new built-in functions to Plutus to support ECDSA and Schnorr signatures. Cryptography ensures trust and security in blockchain settings, and different blockchains use different cryptographic signature methods. The addition of ECDSA and Schnorr signature support in Plutus will allow developers to use a wider range of multi-signature or threshold signature designs natively in Cardano, providing the highest level of security.
Sabrina Martins VieiraThe addition of the Valentine upgrade and its support for cross-chain interoperability could further boost Cardano's popularity among developers and investors alike.
The upgrade is a significant milestone for the Cardano project, which has been steadily gaining traction in the blockchain community. At the time of writing, the ADA token was trading at $0.38 on major spot exchanges, according to CoinMarketCap.
Godfrey Benjamin
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov