The research and development company behind the Cardano blockchain, Input Output Hong Kong (IOHK), has announced that the network’s block size will be increased by 11%.
The overall block size will be increased from 72 KB to 80 KB due to the update. Cardano blocks should be able to move more transactions at once as a result of these changes.
Additionally, IOHK has created a new proposal. The company wishes to expand the amount of data incorporated in a single smart contract transaction on the Cardano – Plutus platform. The memory unit will grow from 12.5 million to 14 million per Plutus script transaction.
According to IOHK, the purpose of these changes is to optimize the network. Cardano some time ago carried out a hard fork, which introduced support for smart contracts to the network. With the new function, more and more projects began to be created on the chain. Therefore, the protocol must now process more transactions, and thus there is a need to increase scalability.
Additionally, IOHK stated that the suggested upgrades are part of a bigger strategy to increase the volume of transactions on the chain.
This correction is part of a planned series of network optimizations. Cardano will continue to be systematically optimized in batches this year, carefully and methodically scaling the network for future growth as demand increases. The network is designed to handle high loads safely, and bandwidth will continue to improve as optimization continues. This last change will continue to improve the user experience.
Since the launch of smart contract capability on Cardano, a slew of dApps and DeFi projects have begun to appear on the network’s mainnet. The first was founded just a few weeks ago – SundaeSwap, a decentralized exchange.
Nonetheless, the DEX’s introduction was a failure. The platform included several critical flaws that resulted in network congestion and, as a result, failed transactions.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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