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Cardano (ADA) Valentine’s Day Gift: What Will The Upgrade Offer?

The upcoming Cardano (ADA) network upgrade will be centered around features that help developers working on cross-chain applications.

Published by

Anvesh Reddy

Updated 14 Aug, 2024 | 10:52:43 AM UTC

Cardano (ADA) Valentine’s Day Gift: What Will The Upgrade Offer?

Cardano (ADA) News: Input Output Global (IOG), the company behind the Cardano blockchain, is gearing up to provide an upgrade on Valentine’s Day, 14 February, 2023. The upgrade is aimed at easing the environment to help developers working on cross-chain applications. The addition of new built-in functions on Cardano will add an additional layer of security for developers. Incidentally, the upgrade is tentatively scheduled for Valentine’s Day 2023.

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Considering the huge developer activity around the blockchain, it remains to be seen how efficient the upgrade will be in resulting in ADA price rally. Since December 2021, the Cardano blockchain saw one of the highest GitHub commits. In fact, Cardano saw highest developer activity in the time period among major blockchains. By virtue of this, the ADA community is hopeful of the cryptocurrency pricing in the advantage.

New Functions For Cardano (ADA) Developer Security

The Cardano developers will benefit from additional support for Plutus decentralized applications (DApp) developers. The developers have in a blog also said the majority of projects will not be impacted by the upgrade.

“To make it easier for developers to build cross-chain applications, Input Output Global (IOG) has added new built-in functions to Plutus to support ECDSA and Schnorr signatures. This will allow developers to use a wider range of multi-signature or threshold signature designs natively in Cardano, thus providing the highest level of security.”

As of writing, the Cardano (ADA) price stands at $0.384, down 1.18% in the last 24 hours, according to CoinGape price tracker. Also, the developer community could result in more interest in the lead up to the proof of stake (PoS) blockchain platform’s upcoming upgrade. Recent price analysis showed the next ADA resistance levels at $0.4 and $0.426 while support is placed at $0.355.

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Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by

Anvesh Reddy

Updated 14 Aug, 2024 | 10:52:43 AM

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