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Input Output Hong Kong (IOHK) Announces Several Updates to Cardano’s Blockchain -Breaking

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Input Output Hong Kong (IOHK) Announces Several Updates to Cardano’s Blockchain
  • Input Output Hong Kong announced a programme of network adjustments.
  • These adjustments will help to support future growth.

Input Output Input Hong Kong (IOHK), the developer behind Cardano blockchain, announced that after a successful start to Cardano’s smart contract era, they will soon make the first in a program of network adjustments to support future growth.

Cardano, since its inception, has served as a platform for balancing the constant trade-offs of security, scalability and decentralization.

They are currently in the Basho phase according to their team. It focuses on optimization and scaling the network, as well as network growth, thanks to a highly secured, decentralized proof of stake network that is now established.

The company stated a number of their goals and missions in the statement. IOHK also mentioned Ouroboros which was designed to handle large volumes of data, transactions, and scripts with different complexity. The team also stated that the Cardano network uses only about 25% on average with its current parameters.

Further, they stated that it’s only when the actual world is there that they can gauge the demand for any change to the original design and how effective those changes are. They also recommend benchmarking in a variety of situations.

IOHK further noted that the organization is making gradual changes. What’s more, they have submitted two initial changes today. According to the team these changes will go into effect on the Testnet on Thursday November 25th. These changes are expected to be applied to mainnet when they’re tested.

Further, they stated that the change is powerful and something that DApp developers will love. This is how the company explained it:

Plutus has increased their memory limits, which means they are able to create more advanced Plutus code or existing Plutus codes will be capable of processing more data items, increasing concurrency or expanding their capabilities.

Note that “this will be the first of a series of changes to the memory unit settings that will enhance the real-world capabilities of Plutus scripts,” says IOHK.

The statement states that the company is focusing on optimising the Plutus scripts’ size and improving the performance of Cardano node and Plutus guides. It will allow them to process more work with the same protocol parameters.

All of these improvements will increase layer 1 capacity and performance, according to the team. Hydra will also offer a layer 2, which allows users to save multiple chains and reuse the same leadger representation.

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