Cardano intends to introduce an array of scaling enhancements throughout 2022
IOHKCardano’s parent company, says it’s in the final stages of preparing a February code release, the first of three major code drops to upgrade the corenet in 2022. The other two code drops Major code should follow in June and October in hard fork combination events.
The company says it intends to introduce an array of scaling enhancements throughout 2022, which will be focused around June and October hard fork combinator (HFC) events. In the context of Cardano, a hard fork combinator is meant to allow the combination of multiple protocols, without requiring significant changes.
In a blog post, IOHK explained that it will consolidate multiple code releases to improve delivery predictability for the Cardano ecosystem. These include key elements of its scaling plan, such as pipelining, new Plutus CIPs, UTXO disk storage, and Hydra.
These features, when combined with parameter adjustments, will improve Cardano’s throughput and optimize the system to support a growing number of decentralized finance (DeFi) apps, smart contracts and DEXs.
Cardano says it will improve, evolve, and deliver new features through new release rollouts in the coming weeks and months as Cardano focuses on optimization and scalability.
ADA price action
On the first day of trading in March, Cardano’s price followed the market’s general trend and rose near the psychological resistance level of $1. According to CoinMarketCap, the cryptocurrency has seen an 11% price spike and is on the verge of breaking above the $1 mark for the first time since February.
In addition to the rapid price increase, ADA recorded a $1.8 billion increase in trading volume. ADA had previously been limited for five days, hitting lows of $0.74 on February 24.
As U.Today previously reported, Cardano’s TVL reached a new milestone in February with more than $120 million worth of users’ funds being locked in various smart contracts on the chain. As always, the largest volume of locked funds was observed on the SundaeSwap platform.
