Cardano has experienced significant network growth amid important technological advancements in the blockchain infrastructure. The altcoin has seen positive gains in anticipation of a crucial update that will result in the full decentralization of the Cardano network.
Cardano (ADA) is currently undergoing key developments and upgrades as it prepares to achieve full decentralization, marking a new era for the entire blockchain ecosystem. A recent weekly development report has provided important details about the latest developments and outlined what the community can expect in the near future.
An examination of its core technology reveals that the ledger team has achieved a major milestone by implementing CIP-0069, which enhances PlutusV3 functionality. Several key bugs have been addressed, including fixing script execution and preventing delegation to non-existent pools. Additionally, improvements have been made in the wallets, smart contracts, and scaling infrastructures. These developments are in preparation for the expected Chang fork this month, setting the stage for the “Age of Voltaire,” which will introduce new features such as treasury management, governance, and decentralized voting.
Voltaire represents a significant advancement for Cardano, with founder Charles Hoskinson describing it as “the most significant milestone in the history of Cardano and for the industry as a whole.” The education team is also making progress, preparing lectures for the upcoming Cardano Developer course and advancing work on Mastering Cardano.
The report highlights some of the network’s key achievements, including the launch of 171 projects, the construction of 1,364 projects, and the implementation of 132,527 token policies. Additionally, there are 10.09 million native tokens and 92.3 million successful transactions on the blockchain. These statistics disprove claims that the network is a “ghost town,” indicating that there is significant adoption and numerous projects built on it.
According to blockchain researcher Collin Brown, there are promising developments to look forward to from the network in the days ahead.
These accomplishments point to a positive future for the network, and its native token, ADA, has experienced a rally. At the time of writing, ADA is trading for $0.395 after a 7% surge in the last 24 hours, reclaiming some of the recent losses that led to its loss of a top-ten ranking. Investors are anticipating further gains ahead of the key upgrade at the end of the month, which could potentially restore the altcoin to its top-ten rank.
Technical analyst Ali Martinez has indicated that ADA is showing a buy signal, suggesting potential price rebounds in the short term. Increased demand for the altcoin from investors could drive prices higher, with long-term trajectory influenced by network development, adoption, partnerships, and the potential launch of a Cardano spot ETF.
Overall, the future looks bright for Cardano, with ongoing developments and upgrades contributing to its positive momentum in the market.
