Cardano, the 11th biggest cryptocurrency by market capitalization, has surged by more than 7 percent in merely one hour. The much-hyped Cardano 1.4, which Charles Hoskinson himself called ‘the most significant update’ to date, is the obvious reason behind the uptick.
Cardano 1.4
As of late, Cardano 1.4 was one of the most exciting things about the Cardano ecosystem. Hoskinson provided some insights into the highly anticipated release during his AMA that took place in November when Cardano 1.4 was still in the testing stage. He mentioned that they required a significantly less amount of storage because of newly employed database solutions.
Now, the update is finally live, and some of its most important improvements include:
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Optimized block storage with only 44,000 needed for one year of Blockchain history, which is a world of difference compared to 1.3 mln files that were required before the update.
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Daedalus, an open source desktop wallet for Cardano, becomes available for Linux users.
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The recent release also tackles some network connection issues.
The Byron phase
It is worth mentioning that Cardano 1.4 is considered to be the fifth major release of the Byron phase. All users will be able to receive the update automatically.
The second phase, which is dubbed Shelley, will be versioned as Cardano 2.N. Overall, Cardano includes five development phases:
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Byron;
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Shelley;
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Goguen;
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Basho;
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Voltaire.
Cardano’s momentum
Cardano takes a (dishonorable) fourth place in the list of currencies below their ATH with a jaw-dropping 98 percent drop, only being outperformed by ICON, Qtum and the infamous crypto scam BitConnect. Nevertheless, the project, spearheaded by Hoskinson, enjoys a lot of respect in the crypto community. Its recent 7 percent spike shows that Cardano has a lot of room for growth as one of the leading Blockchain 3.0 projects.