Cardano, one of the leading blockchain platforms, has released its weekly development report on May 19, 2023. The report highlights the progress made in various areas of Cardano’s ecosystem. In terms of networking protocols, the team has updated and improved tests for Eclipse Evasion, which focuses on enhancing the network’s resilience.
Cardano’s Progress & Updates
According to the report, a total of 1,242 projects have been launched on the Cardano platform to date. Additionally, there are currently 8.28 million projects in the building phase involving 73,880 native tokens. The platform also boasts 5,776 Plutus v1 scripts and 2,501 Plutus v2 scripts.
Moreover, 66.7 million token policies are in place, ensuring the smooth functioning of transactions. The report further highlights the significant volume of transactions,
Additionally, they have been working on integrating Trezor, a popular hardware wallet, with Lace, Cardano’s in-browser app. The team has also been developing a multi-delegation framework for the desktop app, allowing users to delegate their tokens more efficiently.
The report mentions that the Untyped Plutus Core has been optimized, improving program sizes and costs. Furthermore, the Plutus Core specification has been updated, specifically for sums of products. The team has been actively working on formalizing sums of products in Agda, a dependently typed programming language.
Exciting news for the Cardano community is the release of the first mainnet-compatible Hydra node. Hydra is Cardano’s scaling solution, and this milestone represents a significant step forward in improving the platform’s scalability and transaction throughput.
On the governance front, workshops for CIP-1694, which focuses on on-chain governance, are set to commence this weekend. These workshops aim to explore the latest developments in Cardano’s governance system and will be held in multiple locations worldwide.
This allows participants to network and collaborate with their local ADA communities. Additionally, virtual workshops will be conducted to accommodate those unable to attend in person.
The development report also mentions new projects presented during the Project Catalyst town hall. Notable projects include Ada Quest and the Decentralized Music Platform (DEMU) preview.
Project Catalyst is Cardano’s innovation platform that allows the community to propose and vote on projects for funding.
However, the network continues to make significant strides in its development efforts. Cardano’s ecosystem is expanding rapidly with updates to networking protocols, advancements in smart contracts with Plutus Core, the release of the Hydra node, and the upcoming workshops for on-chain governance.
Nevertheless, these developments showcase the platform’s commitment to scalability, security, and community involvement, further solidifying its position in the blockchain industry.
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