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Why Investors Are Big on Cardano Right Now

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By Jessy Sloan - - 5 Mins Read
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A white keyboard with the ADA Cardano logo on one of the keys

The latest statistics about the Cardano network have been released, showing why investors might go big on the cryptocurrency. The new report about the Cardano platform shows that the network has recently made some positive progress. Input Output Global (IOG), the organization behind Cardano’s research and development, released this report on April 14th, 2023. The report was for the week, covering everything concerning the Cardano core technology, its wallet, and other key issues. 

The new report showed that the Cardano core technology team has been working on the node, consensus, and networking improvements. It mentioned that the team has been adjusting the network's infrastructure to meet the new 8.0 release branch. "The performance and tracing team worked on adjusting their infrastructure to the new 8.0 release branch, conducted an early run of benchmarking, and profiled the new tracing system to minimize its resource footprint and ensure high throughput," the report noted. A Plutus script library will also be integrated into the tooling and benchmarking profiles. 

The report also covered the progress the Cardano team has been making in their wallet development. They mentioned the start of their Web3 journey after launching a light wallet platform with Lace. "Lace 1.0, IOG’s light wallet platform, went live on mainnet on April 11, 2023.

This is just the beginning of the Web3 journey with Lace, so stay tuned for upcoming features such as the Lace desktop version, DApp store, and many more. If you haven’t tried it out yet, visit the Lace website."

Following the new launch, Cardano also announced they would continue extensive work in developing the desktop version of the wallet. The developers mentioned they would try to send updates directly to Lace desktop. A brief description of their upcoming multi-signature feature was also noted in the report.

Cardano coin logo

Smart Contracts and Governance 

Cardano supply was also highlighted after the report released some improvements the network has made in smart contacts and governance. A correctness test for Marconi indexers has been added by the Plutus tools team in their latest upgrade. The Plutus tools team "made MintBurn indexer of Marconi available for querying in the HTTP server and added better support for logging in the standalone emulator." 

A rename of a smart contract was also done by the Marlowe team. The team renamed Marlowe to marlowe-runtime-cli. Cardano also announced they would undergo huge scaling changes after the Hydra team created separate links for different documentation versions. Also, the Mithril team is finally done with the adaptation and migration of the signed entity and signer stores. The report also showed that Cardano had taken a pretty big step into entering the Voltaire age. 

"CIP-1694 is a crucial step in Cardano’s journey into the age of Voltaire, as it defines the future on-chain governance mechanisms of the blockchain, and helps to create a self-sustaining system built on community contribution and consensus," the report read.

All these big changes and improvements on the Cardano network are very huge and needed. This fascinating report has surely attracted the interest of investors who are getting optimistic about the future of Cardano. Cardano price has also improved in the past weeks as it braces up for a possible bull run.