There have been some exciting developments in the Cardano ecosystem recently. Altcoin Buzz looks at essential Cardano updates from the last week of November to keep readers informed.
Cardano reveal plans and upgrade that they will implement on the platform. In addition, Cardano’s Ardana is working with NEAR Protocol to create a Cardano bridge. Let’s take an in-depth look at these Cardano updates.
1 – Proposed Upgrade on Cardano Blockchain
Cardano blockchain plans to implement certain upgrades on their platform. According to Dr. Shweta, the owner of KiBloc StakePool, these upgrades involves:
- An improvement in Plutus script memory unit to 11.25 million per transaction.
- The proposed ERC-20 converter is currently in its final stages.
- IOHK, the technology firm behind Cardano, will improve block size by 12.5%, which is also an increase to 72KB.
Besides, these upgrades are a step in the right direction, improving the ecosystem throughput.
🚨Cardano Updates🚨
Tomorrow @InputOutputHK will increase block size from 64 to 72KB (+12.5% ). #Cardano Team will also increase Plutus script memory units per tx to 11.25 m.#ERC20 converter in final testing stages.
Marlowe roadmap & Marlowe Pioneer Program updates on the way pic.twitter.com/HMamzBlPPY— Dr. Shweta 🦅 (@Dr_shwetaPHD) December 1, 2021
2 – Cardano’s Ardana Collaborates with NEAR Protocol
Ardana, a Cardano-based DeFi, and stablecoin solution will work with the NEAR protocol. Both protocols will focus on creating a bridge between Cardano and NEAR.
According to the annoucement, the collaboration will also support partnerships among projects on both Cardano and NEAR, while Ardana will facilitate the transfer of tokens on both platforms. Moreover, there are plans for Ardana to adopt the cross-chain smart contract feature.
Notably, the collaboration will receive funding used to create the bridge.
⭐️ Ardana has formed a strategic partnership w/ #dApp platform @NEARProtocol.
🌈 Through this collab, which includes a grant, we'll #BUIDL the first-ever bridge between #Cardano & #NEAR ecosystems to facilitate seamless asset transfers and more. ⤵️https://t.co/zKtDPzPvES
— Ardana – DeFi Hub of Cardano (@ArdanaProject) November 23, 2021
3 – Cardano’s Verlux NFT Marketplace Commence Seed Sale
Verlux, a cross-chain NFT marketplace on Cardano, has started its seed sale program, spanning until December 9th, 2021.
Cardano NFT Marketplace Verlux Releases First UI Demo #crypto #cryptocurrency #cardano #ada #cryptonews https://t.co/DoVq3zI5mA
— Cardano Today (@cardano_today) December 1, 2021
The NFT marketplace provides a unique decentralized feature to Cardano, making it possible to open an account using a wallet connection.
According to the announcement, with the NFT marketplace, artists, meme-creators, and digital artists will mint their products as digital assets.
Finally, there are plans to set up a multi-chain digital marketplace to facilitate trading NFTs with other blockchains via a single interface.
$ADA Price Outlook
As of the time of publishing this article, the price of $ADA was $1.66 with a 24-hour trading volume of $3,4 billion. Also, the $ADA price rose by 6.3% over the last 24 hours. Besides, it has a circulating supply of 32 billion and a total of 45 billion tokens.
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