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Cardano Ecosystem

TheCryptoBasic

05/20/2023

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Cardano Recent Development Report Highlights Extensive Work Behind Scenes

Cardano’s Recent Development Report Demonstrates the Comprehensive Work Being Done Behind the Scenes. According to a recent update, the Cardano development team has been working on various projects....

Cardano Recent Development Report Highlights Extensive Work Behind Scenes

Cardano’s Recent Development Report Demonstrates the Comprehensive Work Being Done Behind the Scenes.

According to a recent update, the Cardano development team has been working on various projects. Specifically, the networking team has created a new method to switch between root and ledger peers. This results in better communication between nodes in the system. Additionally, they have been making progress on Eclipse Evasion, a feature that enhances scalability and preserves privacy within the Cardano network.

#Cardano community, 1 of my favorite things about this ecosystem. So much work going on behind the scenes that gets overlooked. Networking team worked on a new way to switch between root & ledger peers & continued working on Eclipse Evasion. BULLISH. @Cardano $ADA pic.twitter.com/gfF9IWT1UN

— Chris O (@TheOCcryptobro) May 19, 2023

These are just some of the many projects the team has been working on, all pointing toward a more secure, reliable, fast networking system. A weekly report showed that Cardano had launched 127 projects, generated over 8.28 million native tokens, and executed 8,277 Plutus scripts.

Furthermore, Cardano currently has 1,242 active projects being developed on its platform, processing 66.7 million transactions and 73,880 token policies. Before the Vasil hard fork, this number stood at 98 projects and 1,100 buildings on the Cardano network.

Other updates include launching the first manual-compatible Hydra Node and Hydra Plutus scripts which can be used on the mainnet. Additionally, this new launch includes technical changes and must-have issues that Cardano wants to fix before using a Hydra Head with real ADA.

Ledger Upgrade Sparks Controversy

As reported by The Crypto Basic, the new firmware update introduced by Ledger was recently under fire for some security vulnerabilities. Charles Hoskinson, the founder of IOG, took to Twitter to emphasize the importance of open-source software and regular audits by multiple sources to help users benefit from enhanced security measures.

Hoskinson also noted that transparency is critical to developing trust within the industry. He added that audited software provides a layer of assurance for users, which is especially important for hardware wallets.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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