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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Cardano’s 2024 Kickoff: First Two Weeks Show Major Updates, Report

Reynaldo Marquez
Reynaldo Marquez
1 year ago
3 mins read
Cardano ADA ADAUSDT Cardano ETF

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In a report from the educational tool Essential Cardano, the team behind Input Output Global (IOG) showed some of the latest updates to ship in the ecosystem. From performance to scalability, the network continues to implement improvements.

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Cardano has been regaining bullish momentum in the crypto market as the news of the spot Bitcoin Exchange Traded (ETF) fund in the US pushed the sector higher. At the time of writing, ADA’s price trades at $0.5 with a 7% profit in the last week.

Cardano ada adausdt price etf charles hoskinson
ADA’s price trends to the upside on the daily chart. Source: ADAUSDT on Tradingview

Big Updates, Big Things In Store? Cardano Picks Up Bullish Momentum

According to the report from Essential Cardano, the network saw the introduction of a new version of its client, v.8.7.3, by its core technology team. The update addresses an issue with the outbound governor function, causing communication problems across specific nodes and impacting network performance.

On the other hand, the networking and consensus teams implemented an update on the decision logic used by a cluster run by IOG and integrated a new ledger database, respectively. These updates will allow the network to mitigate performance issues.

The report noted that the Lace team fixed a bug in the wallet and services sector that affected the singData method, impacting the visualization of stake pool rewards. The team also fixed issues with reading minting transaction data, stake pool visualization, and transaction signatures.

An official post stated the following regarding a new feature that gave users more freedom to synchronize their wallets:

Using multi-address wallets with Lace just got smoother, with a new simple way to discover and sync new addresses. Ready to make your life easier? Go to ‘Wallet Sync’ in your settings to resync your multi-address wallet and discover new addresses. After all, why shouldn’t we have our wallets and use them, simultaneously?

Cardano Funding, Smart Contracts, And More

On the smart contract side, the Cardano platform, Plutus, received an update to enhance its performance. In addition, the team implemented an update that allows the node to index consensus events and ledger states.

This implementation represents a milestone in the platform’s long-term progress and in its capacity to deploy a queryable node, IOG noted.

As in previous years, the Cardano ecosystem will stay focused on its community and in ways of promoting participation in its governance model. In that sense, the community awaits the release of a “constitution” to be agreed upon and voted by elected delegates.

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Furthermore, the fundraising device for the ecosystem, Project Catalyst, will conclude its voter registration. This tool will continue to be a key ecosystem component throughout 2024. The post noted:

Fund11 is progressing through the community review stage, now entering the moderation part where experienced community members help cross-check the output of the reviews. Results of this stage should be known within two weeks.

The improvements have allowed the Cardano ecosystem to grow, deploy new features, and onboard new projects. All of which will be easier to visualize with the new Mithril Explorer.

🌐Meet Mithril Explorer, the gateway to the #Mithril ecosystem.

Identify stake pools pioneers paving the way for the Mithril protocol.

Kudos to our early adopters! 🙌 @X_StakePool_XSP, @canadastakes1, @sakakibara1JPN, and more.

🔍Explore now: https://t.co/IqFCqpb8qc #Cardano pic.twitter.com/9KsWp6gJly

— Input Output (@InputOutputHK) January 12, 2024

Cover image from Unsplash, chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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