2 Years Old Cryto News Website

Cardano increases block size by 11% to optimize network

Input Output Hong Kong (IOHK), the research and development company behind the Cardano blockchain, has announced that the network is on track to increase its block size by 11%. Increase Cardano’s Block Size to 80KB In announcing the new update via a tweet on Wednesday, IOHK noted that the proposal will grow the total block size from the current 72 kilobytes (KB) to 80 KB. This development should allow Cardano’s blocks to process more transactions. In addition, IOHK has initiated a separately updated proposal to increase the amount of data that can be included in a single transaction on Cardano’s smart contract platform, Plutus. According to the update, the memory unit of the Plutus script per transaction goes from 12.5 million to 14 million. Scaling Cardano’s Capacity According to IOHK, the proposal to increase Cardano’s block size and memory units is part of its efforts to optimize the network. With a rapidly growing number of projects launching on the Cardano mainnet, the protocol needs to handle more transactions and this highlights the need to scale the blockchain’s overall capacity. IOHK also pointed out that the proposed updates are on track with its larger plan to increase Cardano’s transaction volumes as it moves closer to becoming a go-to blockchain network for DeFi projects. “This change is part of a planned series of network optimizations. Cardano will be steadily optimized this year in a series of measured steps, carefully and methodically scaling Cardano for future growth as demand increases… The network is designed to safely manage high peak loads and throughput will steadily improve as we continue optimize. This latest change will continue to improve the user experience,” said IOHK. Cardano’s first dApp goes live Since the introduction of the highly anticipated smart contract functionality on the Cardano blockchain, the network has witnessed a massive increase in the number of dApps and DeFi projects launching on its mainnet.Just a few weeks ago, the first Cardano-based decentralized exchange (DEX), SundaeSwap, went live on the mainnet, offering several trading pools of native Cardano tokens. However, the DEX launch was marred. due to various platform errors and failed transactions caused by network congestion.Hopefully the proposed upgrades, scheduled for Feb 4th, will make the dApp run more smoothly.SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% discount on fees on Binance Futures first month (conditions). PrimeXBT Special a Offer: Use this link to register and enter POTATO50 code to get 25% off trading fee.
Source link
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts