Cardano has experienced significant growth in its network while making important technological advancements in its blockchain infrastructure.
The altcoin has seen positive gains as it approaches a crucial update that will result in the Cardano network being fully decentralized.
Cardano (ADA) is undergoing essential developments and upgrades as it prepares to become fully decentralized, marking a new era for the entire blockchain ecosystem. A recent weekly development report has provided key details about the recent developments and highlighted what the community can expect in the near future.
A closer look at its core technology reveals that the ledger team has achieved a significant milestone by implementing CIP-0069, which enhances PlutusV3 functionality. Several key bugs have been fixed, including correcting script execution and preventing delegation to non-existent pools in the core technology.
Furthermore, improvements have been made in the wallets, smart contracts, and scaling infrastructures. This progress comes ahead of the anticipated Chang fork this month, setting the stage for the “Age of Voltaire” and introducing new features such as treasury management, governance, and decentralized voting.
Voltaire is a major leap for Cardano, with founder Charles Hoskinson stating that it is “the most significant milestone in the history of Cardano and for the industry as a whole.”
There have also been notable developments in the education sector, with the education team preparing lectures for the upcoming Cardano Developer course next month, and work progressing on Mastering Cardano.
Highlighting some of the network’s key achievements, the report reveals that 171 projects were launched, 1,364 projects were built, and 132,527 token policies were implemented. Additionally, there are 10.09 million native tokens and 92.3 million successful transactions on the blockchain.
These statistics debunk allegations from some influencers that the network is a “ghost town,” suggesting that there is little adoption and few projects built on it.
Blockchain researcher Collin Brown has articulated that there is much to look forward to from the network in the coming days.
The achievements bode well for the network’s future, 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. This sees the altcoin regain some of the recent losses that led to the loss of its prestigious top-ten rankings.
Investors anticipate more gains ahead of the key upgrade at the end of the month, and the altcoin may reclaim its top-ten rank.
Popular technical analyst Ali Martinez has indicated that ADA is showing a buy signal. The TD Sequential indicator presents buy signals on the daily charts for Shiba Inu, Cardano, and Solana.
If investors increase their demand for the altcoin, this could drive prices higher in the short term. The long-term trajectory will be largely influenced by network development, adoption, partnerships, and the possibility of the launch of a Cardano spot ETF.