Cardano Jumps 13% After Developers Implement New Update

Developers of the Cardano (ADA) blockchain are implementing the latest update on its smart-contract platform, Plutus.

Input Output Hong Kong (IOHK), Cardano’s development firm, said on Twitter that Plutus’ per block script memory unit limit has increased from 56 million to 62 million:

“This incremental adjustment is the latest in a continuing series of optimizations and increases to network capacity that are being made as Cardano continues to scale in 2022 for future growth.

Once deployed, we’ll monitor carefully for at least one epoch (5 days) before assessing any further adjustment. Continued observation & orientation guided by real world usage is key to growing Cardano capacity safely & securely to keep pace with a blossoming ecosystem.”

IOHK also warned users that it expects traffic on the blockchain to increase in the coming weeks and months:

“With the arrival of many new [decentralized finance] projects on Cardano over the weeks and months ahead, users should expect high volumes of network traffic. This may be significant at peak times around launches and large [non-fungible token] drops.

While users may occasionally experience delays in transactions going through, the Cardano network has been designed to operate safely at high load & throughput will steadily improve as the network continues to be optimized.”

At time of writing, ADA is trading at $1.09, up more than 13% in the past 24 hours, according to CoinMarketCap.

PARAMETER UPDATE: Today, an update proposal (submitted before the weekend) will trigger an increase in per-block #Plutus script memory units limit from 56M > 62M. This change will take effect on #Cardano mainnet at epoch boundary 328 today, 21 March at UTC 21:44:51.

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— Input Output (@InputOutputHK) March 21, 2022