DailyCoin
Published Mar 22, 2022 11:16AM ET
Updated Mar 22, 2022 11:31AM ET
Cardano Increases Plutus Script Memory, Developers Look Introduce Burn Mechanism
Since launching the Alonzo smart contract upgrade last September, Cardano has consistently rolled out network upgrades as it looks to embrace smart contract functionalities fully.
Just a week after Cardano founder Charles Hoskinson announced the first public testnet of Hydra heads, Input-Output Global has put forward a proposal to increase the memory of the network Plutus scripts.
Cardano Increases Plutus Script Memory
The proposal put forward by IOG will see the limit of memory units per block for the blockchain’s Plutus scripts increase from 56 million to 62 million.
According to the proposal, by increasing the memory of the Plutus scripts, IOHK hopes to increase the network’s scalability. As per the announcement, the update went live on March 21 and will be monitored by IOG for five days.
Plutus script enables users to leverage a programming environment, remove friction from the DeFi sector, and help more users onboard the Cardano ecosystem.
Cardano Could Begin Burning ADA
The IOG has also shared another interesting development for the Cardano network. According to IOG, the Hydra team is working on finalizing a new transaction workflow that will add token-burning functionalities to the Cardano blockchain.
In a roadmap update, the Hydra team reportedly “inspected the options of token minting and burning within a Hydra Head.”
On the Flipside
Why You Should Care
To onboard more people into its defi ecosystem, Cardano continues to make incremental adjustments and network optimizations to improve the performance of its blockchain.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.