Cardano Events Ahead: June Hard Fork, P2P Protocol, DJED Stablecoin and More
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The Cardano network is getting ready for a number of big releases for the ecosystem in upcoming months. The activity of developers on the network is near record-breaking, and here's what users can expect this summer.
June hard fork
One of the biggest updates on Cardano will bring reference scripts, inline datums and reference inputs. All improvements are expected to massively increase the throughput of the network, making Cardano's L1 one of the most effective chains on the network.
Block production is fully decentralized in #Cardano. Next up, full P2P network #Decentralization.
— Input Output (@InputOutputHK) May 6, 2021
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
One of the most important updates will be reference scripts, which make transactions on the network smaller and cheaper by referring to existing prerecorded scripts from older transactions.
Full P2P network
With the release of P2P and gossip protocol, Cardano will get one step closer to full decentralization. After the implementation of the new functionality, end users will discover nodes without relays.
Alex DovbnyaThe network will become fully self-regulated and organic as there will be fewer barriers to users who are willing to make an investment into decentralization of the ecosystem.
DJED stablecoin
One of the most anticipated solutions that is coming to the network is the release of algorithmic DJED stablecoin. The network can already offer users bridged USDC, but the decentralized algorithmic stablecoin would be a more efficient solution for Cardano.
The variety of decentralized solutions and applications that Cardano is getting ready to launch this summer is aimed at attracting users and investors from all over the industry.
We are already seeing the effects of high development and release activity as Cardano's underlying cryptocurrency, ADA, showed an almost 50% price increase in the last five days of trading.
Related articles
Godfrey Benjamin
