Cardano Upgrade pushes the price of ADA up 8% in latest update

Technology

Cardano Upgrade pushes the price of ADA up 8% in latest update – Crypto News

Published

1 year ago

January 27, 2024

Dripp

Different Cardano Upgrades have been implemented thus far over the past year and these improvements are likely triggering an 8% surge in the price of its native coin, ADA.

The Mithril and Hydra Upgrades

As part of the Cardano upgrade, the Hydra team made significant progress with version 0.15.0, which they are currently working on. With the release of the latest edition underway, the team is now addressing issues in smoke tests and website publishing workflows. The plan is to ensure a more robust development environment and include more ‘dogfooding’ through the use of Mithril to synchronize nodes in smoke tests.

The Hydra team also worked on polishing Hydra-chess v.0.1.0. This version is an example application that runs on Hydra and demonstrates the capabilities of the platform. It is believed that this can serve as a reference for future Hydra developers.

Similarly, the Mithril team got busy with the release of the initial version of the Mithril client NPM package. Cardano is hopeful that the launch of this solution would enable developers to integrate core Mithril features into their web applications running in a browser. The Mithril team also launched a new 2403.1 distribution, and this includes support for Cardano node v.8.7.3, a new chain observer based on the Pallas library. It also came with a few bug fixes and performance improvements.

More Cardano Upgrades and ADA Surge

In addition, the team put effort into the implementation of a different entity type. This solution is aimed at verifying and certifying the Cardano transactions set in Mithril networks.

So far, the team has made good progress on retrieving transactions and combining them into a Mithril protocol message. They have now finalized the implementation of a mock aggregator in WASM and are now using it in the browser tests for the Mithril client.

The Mithril team’s work also encompassed the enhancement of node communications between Mithril and other Cardano protocols. In the meantime, they are focused on working on threat modeling and risk analysis for P2P networking. Previously, the Mithril team announced that the protocol has been running without interruption since epoch 425. This was after Mithril’s access was expanded via a new partnership with the Africa Blockchain Center.

ADA has reacted positively to the numerous Cardano upgrades, pushing ADA price to $0.4866, up by 8.12% in the past 24 hours. ADA has joined the top digital currencies in a massive uptrend after a lengthy period of drawdown.