The Cardano Plutus team has completed the development of guardrail scripts for Conway governance actions and has optimized the PlutusV3 cost model. Meanwhile, the Mithril team has been focused on certifying Cardano transactions and scaling proof generation for the mainnet, as well as enhancing low-latency certification processes.
The Cardano Foundation has released a report highlighting the latest developments in its core technology and smart contracts. The ledger team has made significant progress in conformance testing, completing tests for the CERT and RATIFY rules, and advancing other tests. These efforts have resulted in improvements in the constraint-generators framework. The team has also addressed the stake pool operator stake distribution calculation for voting, incorporating proposal deposits locked in the system.
On the Plutus side, the team has finalized the development of guardrail scripts for Conway governance actions and has refined the PlutusV3 cost model parameters for optimal performance. They have also collaborated with MLabs to implement new bitwise primitives.
In terms of scaling and education, the Mithril team has been working on certifying Cardano transactions within Mithril networks. They have been focused on scaling proof generation for the mainnet, prototyping optimizations, and benchmarking performance improvements. They have also made progress on low-latency certification, including retrieving the chain tip and importing transactions from the Cardano mini-protocol with Pallas. Additionally, a new explorer page has been developed to display newly registered and deregistered SPOs for the latest Cardano epochs.
The team has also upgraded the testing-sanchonet network, created a module for building test transactions, and started removing the deprecated snapshot command from the client CLI. Work on SanchoNet documentation is ongoing, with collaboration between builders and Intersect on the new DRep Pioneer program, which aims to equip participants with the skills and knowledge to serve as Delegate Representatives (DReps) in Cardano’s proposed governance structure.
The Education team is planning the next Cardano Developer course and making progress on the Mastering Cardano series. They are also working on an educational video about the constitutional committee in collaboration with the Voltaire tribe.
In terms of ADA price action, the native cryptocurrency of Cardano has been facing challenges in staying above $0.50. The ADA price has seen strong selling pressure and is currently trading with a market cap of $16.439 billion. According to Crypto News Flash, the recent double-digit decline in ADA’s price is due to reduced demand for the altcoin. On-chain data shows a 17% decrease in the daily count of active addresses engaging in transactions involving ADA, and a 22% drop in new demand for the altcoin over the past week. This decline in ADA demand is in line with the broader downtrend in the cryptocurrency market, which has led to falling prices. The global cryptocurrency market capitalization has decreased by 2% in the past seven days.
In conclusion, Cardano continues to make progress in its core technology and smart contracts, with significant developments from the Plutus and Mithril teams. The Education team is also working on various educational initiatives. However, the ADA price has been experiencing a decline due to reduced demand and the overall market trend.