Mithril

Cardano

2024

Show

In a <a href="https://www.essentialcardano.io/development-update/weekly-development-report-as-of-2024-01-12" target="_blank" rel="noopener nofollow">report</a> from the educational tool Essential Cardano, the team behind Input Output Global (IOG) showed some of the latest updates to ship in the ecosystem. From performance to scalability, the network continues to implement improvements. 
Cardano has been regaining bullish momentum in the crypto market as the news of the spot Bitcoin Exchange Traded (ETF) fund in the US pushed the sector higher. At the time of writing, ADA’s price trades at $0.5 with a 7% profit in the last week. 
<img loading="lazy" decoding="async" class="wp-image-569268 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=860&amp;resize=860%2C413" alt="Cardano ada adausdt price etf charles hoskinson" width="860" height="413" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=2372 2372w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=860&amp;resize=860%2C413 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Cardano-ada-adausdt-price-etf-charles-hoskinson.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="big-updates-big-things-in-store-cardano-picks-up-bullish-momentum">Big Updates, Big Things In Store? Cardano Picks Up Bullish Momentum</h2> 
According to the report from Essential Cardano, the network saw the introduction of a new version of its client, v.8.7.3, by its core technology team. The update addresses an issue with the outbound governor function, causing communication problems across specific nodes and impacting network performance. 
On the other hand, the networking and consensus teams implemented an update on the decision logic used by a cluster run by IOG and integrated a new ledger database, respectively. These updates will allow the network to mitigate performance issues. 
The report noted that the Lace team fixed a bug in the wallet and services sector that affected the singData method, impacting the visualization of stake pool rewards. The team also fixed issues with reading minting transaction data, stake pool visualization, and transaction signatures. 
An official <a href="https://www.lace.io/blog/lace-1-8-0-release" target="_blank" rel="noopener nofollow">post</a> stated the following regarding a new feature that gave users more freedom to synchronize their wallets: 
<blockquote>
 Using multi-address wallets with Lace just got smoother, with a new simple way to discover and sync new addresses. Ready to make your life easier? Go to ‘Wallet Sync’ in your settings to resync your multi-address wallet and discover new addresses. After all, why shouldn’t we have our wallets and use them, simultaneously?
</blockquote> 
<h2 id="cardano-funding-smart-contracts-and-more">Cardano Funding, Smart Contracts, And More</h2> 
On the smart contract side, the Cardano platform, Plutus, received an update to enhance its performance. In addition, the team implemented an update that allows the node to index consensus events and ledger states. 
This implementation represents a milestone in the platform’s long-term progress and in its capacity to deploy a queryable node, IOG noted. 
As in previous years, the Cardano ecosystem will stay focused on its community and in ways of promoting participation in its governance model. In that sense, the community awaits the release of a “constitution” to be agreed upon and voted by elected delegates. 
Furthermore, the fundraising device for the ecosystem, Project Catalyst, will conclude its voter registration. This tool will continue to be a key ecosystem component throughout 2024. The post noted: 
<blockquote>
 Fund11 is progressing through the community review stage, now entering the moderation part where experienced community members help cross-check the output of the reviews. Results of this stage should be known within two weeks.
</blockquote> 
The improvements have allowed the Cardano ecosystem to grow, deploy new features, and onboard new projects. All of which will be easier to visualize with the new Mithril Explorer. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;">Meet Mithril Explorer, the gateway to the <a href="https://twitter.com/hashtag/Mithril?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Mithril</a> ecosystem. 
 Identify stake pools pioneers paving the way for the Mithril protocol. 
 Kudos to our early adopters! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/X_StakePool_XSP?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@X_StakePool_XSP</a>, <a href="https://twitter.com/canadastakes1?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@canadastakes1</a>, <a href="https://twitter.com/sakakibara1JPN?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@sakakibara1JPN</a>, and more. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f50d.png" alt="🔍" class="wp-smiley" style="height: 1em; max-height: 1em;">Explore now: <a href="https://t.co/IqFCqpb8qc" target="_blank" rel="noopener nofollow">https://t.co/IqFCqpb8qc</a> <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Cardano</a> <a href="https://t.co/9KsWp6gJly" target="_blank" rel="noopener nofollow">pic.twitter.com/9KsWp6gJly</a> 
 — Input Output (@InputOutputHK) <a href="https://twitter.com/InputOutputHK/status/1745776980115476605?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">January 12, 2024</a>
</blockquote> 
Cover image from Unsplash, chart from Tradingview

Cardano’s 2024 Kickoff: First Two Weeks Show Major Updates, Report

Table of Contents

NewsBTC

Other articles published on Jan 12, 2024

Dogecoin price bounces 13% as Elon Musk’s X teases P2P payments

Top Altcoins To Buy January 12: ENS, BONK, OP

Crypto – Dogecoin resists despite Elon Musk’s disinterest

BlackRock Surpasses Expectations with $9.22 EPS in Latest Quarter

Ethereum Rises While Bitcoin Declines: What’s Driving ETH’s Rally?

LTC Price Reversal Eyes $80 Breakout Amidst Market Recovery

Join our free newsletter for daily crypto updates!