Cardano rolls out a major new Mithril update

Over a week ago announced we already talked about it, a new upgrade for the Cardano (ADA) network. The upgrade, called Mithril, has now actually been implemented. With Mithril the network takes important steps towards efficiency, which the upgrade can achieve by improving the synchronization of the nodes.

More efficient node sync with Mithril

Node synchronization in cryptography is the process by which a newly added or reconnected node (a computer that is part of a blockchain network) updates its local copy of the blockchain by downloading the most recent transactions and blocks from other nodes in the network. This ensures that each node has the latest and most accurate version of the blockchain, which is essential for network integrity and security.

Nodes are therefore essential for a blockchain. Mithril responds to this process by reducing the memory and disk usage required by the nodes. According to a betting pool operator Banksy, CPU computing power is minimized to only a brief peak during the hashish procedure, when the transaction data is processed. Furthermore, more efficient node management also ensures that the network becomes more accessible to all who are considering contributing. An accessible network means greater possibilities for decentralization, security and resilience.

Cardano price on the rise

Mithril is in a long line of updates on the Cardano network. Since it was released, the ADA price briefly jumped to $0.32, up 3%. It’s still about 30% higher than the price it was a month ago. ADA saw a significant price increase in a short time after years of lawsuits between Ripple and the US Securities and Exchange Commission (SEC) was decided in favor of the cryptocurrency company. The same cryptocurrency was also approved by the SEC in early June sued as an effect.