What Will The Upgrade Offer?

Cardano (ADA) News: Input Output Global (IOG), the company behind the Cardano blockchain, is gearing up to provide an upgrade on Valentine’s Day, 14 February, 2023. The upgrade is aimed at easing the environment to help developers working on cross-chain applications. The addition of new built-in functions on Cardano will add an additional layer of security for developers. Incidentally, the upgrade is tentatively scheduled for Valentine’s Day 2023.

Also Read: Who Owns WazirX? Binance Threatening Indian Crypto Exchange?

Considering the huge developer activity around the blockchain, it remains to be seen how efficient the upgrade will be in resulting in ADA price rally. Since December 2021, the Cardano blockchain saw one of the highest GitHub commits. In fact, Cardano saw highest developer activity in the time period among major blockchains. By virtue of this, the ADA community is hopeful of the cryptocurrency pricing in the advantage.

New Functions For Cardano (ADA) Developer Security

8/10: This technology is now close to being deployed on the #Cardano mainnet, with over 80% of block-producing nodes running the required new node.

— Input Output (@InputOutputHK) January 19, 2023

The Cardano developers will benefit from additional support for Plutus decentralized applications (DApp) developers. The developers have in a blog also said the majority of projects will not be impacted by the upgrade.

“To make it easier for developers to build cross-chain applications, Input Output Global (IOG) has added new built-in functions to Plutus to support ECDSA and Schnorr signatures. This will allow developers to use a wider range of multi-signature or threshold signature designs natively in Cardano, thus providing the highest level of security.”

As of writing, the Cardano (ADA) price stands at $0.384, down 1.18% in the last 24 hours, according to CoinGape price tracker. Also, the developer community could result in more interest in the lead up to the proof of stake (PoS) blockchain platform’s upcoming upgrade. Recent price analysis showed the next ADA resistance levels at $0.4 and $0.426 while support is placed at $0.355.

Also Read: Why Is Crypto Market Crashing Today, Is Bull Run Over?

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.