Cardano launches Mithril protocol; Can ADA hit $1 in 2023?
Although the price of Cardano (ADA) has been consolidating following the majority of the cryptocurrency market, the platform has launched a long-anticipated major upgrade to its mainnet, possibly giving fuel...
Although the price of Cardano (ADA) has been consolidating following the majority of the cryptocurrency market, the platform has launched a long-anticipated major upgrade to its mainnet, possibly giving fuel to the ADA token advancing in the near future.
As it happens, Mithril, a stake-based signature protocol promising to improve the efficiency of the node sync, has officially launched on the Cardano mainnet, according to the post and relevant screenshot of the protocol shared by the Cardano stake pool operator (SPO) known as Banksy – LEAD Stake Pool on July 30.
What Mithril brings to the table
Earlier, the operator of the Cardano stake pool called BLADE, known as $conrad, shared several major benefits of the upgrade, including increased decentralization through blockchain snapshot validation by multiple pools signing to attest to a specific certificate and the introduction of an aggregator to create the certificate chains and deliver snapshots.
— $conrad (@conraddit) July 29, 20231. Multiple pools sign attesting to a specific certificate, that validates a blockchain snapshot.
2. The aggregator that creates the certificate chains and delivers the snapshots to clients.
3. The clients who download, verify and use blockchain snapshots.
Replying to a commenter interested in whether Mithril ran on the “same server as Cardano-Node” and how much memory and disk space it consumed, stake pool operator Banksy said that it ran on the block producer or backup node, and that “memory and disk usage is minimal with only a short spike in a single CPU core during a hash procedure.”
Cardano price analysis
Following the Mithril launch, the price of Cardano had increased by over 3% in several hours, nearing the $0.32 level. However, it has since dropped and consolidated at $0.31307, which represents a decline of 0.8% on the day but still a 1.17% gain over the previous week and an increase of 9.1% on its monthly chart.
Meanwhile, Cardano enthusiast and Crypto Capital Venture founder Dan Gambardello shared his opinion that ADA could increase a whopping 2,390% in the next bull run a year from now, ending up at the price target of $7.80, due to collapsing banks and financial systems, as he stated in a July 29 post.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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