Plutus Upgrades and Scaling Breakthroughs

On Jun 25, 2024

Cardano has witnessed remarkable network growth amidst key technological developments around the blockchain infrastructure.
The altcoin has posted positive gains ahead of a crucial update ending with the Cardano network fully decentralized.

Cardano (ADA) is undergoing key developments and upgrades as it readies to become fully decentralized and usher in a new era for the entire blockchain ecosystem. A new weekly development report has revealed key details about the recent developments and highlighted what the community should expect soon.

A look at its core technology reveals that the ledger team reached a major milestone by implementing CIP-0069, which enhances PlutusV3 functionality. Some key bugs have been fixed, including correcting script execution and preventing delegation to non-existent pools to the core technology.

Further improvements have been made in the wallets, smart contracts, and scaling infrastructures. As reported by Crypto News Flash, this comes ahead of the expected Chang fork this month. This will set the stage for the “Age of Voltaire,” introducing new features such as treasury management, governance, and decentralized voting.

Voltaire is a significant leap for Cardano. Cardano founder Charles Hoskinson says it’s “the most significant milestone in the history of Cardano and for the industry as a whole.”

There have also been some notable developments around education. The education team is preparing its lectures for next month’s Cardano Developer course, and work is progressing on Mastering Cardano.

Highlighting some of the network’s key achievements, the report reveals that 171 projects were launched, 1,364 projects were built, and 132,527 token policies were implemented. Additionally, there are 10.09 million native tokens and 92.3 million successful transactions on the blockchain.

These data discredit some influencers’ allegations that the network is a “ghost town,” which suggests that developers and users have little adoption and few projects built on it.

As blockchain researcher Collin Brown articulated, there’s a lot to look forward to from the network in the coming days.

🚀 Exciting #Cardano updates this week:
1⃣ Plutus V3 milestone with CIP-0069: Enhanced script flexibility.
2⃣ Wallets prepping for v1.13 release: New features & critical bug fixes.
3⃣ Smart contracts upgrade to Plutus libraries 1.30.0.0: Introducing CIP-0122.
4⃣ Mithril team… pic.twitter.com/W1YKYm3260
— Collin Brown (@CollinBrownXRP) June 25, 2024

These achievements cast a bullish future for the network, and its native token, ADA, has been rallying. At the time of writing, ADA is trading for $0.395 after a 7% surge in the last 24 hours. This sees the altcoin regain some of the recent losses that led to the loss of its prestigious top-ten rankings.

Investors expect more gains ahead of the key upgrade at the end of the month, and the altcoin may regain its top ten rank.

Popular technical analyst Ali Martinez has revealed that ADA is flashing a buy signal. Crypto analyst Ali sees buy signals on the daily charts for Shiba Inu, Cardano, and Solana, according to the TD Sequential indicator.

The TD Sequential presents buy signals on the daily charts of #Solana, #ShibaInu, and #Cardano, anticipating a price rebound for these #altcoins! pic.twitter.com/P8ZOYm9qTu
— Ali (@ali_charts) June 25, 2024

If investors increase their demand for the altcoin, this could drive prices higher in the short term. The long-term trajectory will be largely dictated by network development, adoption, partnerships, and the possibility of the launch of a Cardano spot ETF.