ADA Price Explosion Closer Than Ever As Charles Hoskinson Reveals Next Major Cardano Update
Cardano founder Charles Hoskinson has disclosed the networks next development path after the release of the Ouroboros Peras Protocol. To improve overall performance, new changes will be made to the validation zones. Crypto users have lauded the Cardano ecosystems frequent updates, tipping future user growth.
Charles Hoskinson Agrees With Devs
The Cardano ecosystem could undergo another major update, leading to better overall performance. In a recent post on X (formerly Twitter), Charles Hoskinson agreed with a network developer, Andrew Westberg, highlighting that the enhancement is long overdue. The move to update validator zones will solve long-standing issues and introduce Babel Fees on the network.
Fast finality in #peras is only useful for partnerchains. Those dont help the main chain. See eth.. . Leios gives throughput but a single dapp cant go faster even if we can support 1000s of dapps. We can get quite far with blocksize, tx chaining, and solving utxo contention.
This stems from a problem of intents in the network, an issue caused by improper specifications of user actions. Intents are quite common in most blockchains, with networks tightening the gaps to ease user experience. According to a post shared by the developer, intent can be settled by writing custom logic, which allows users to encode their actions despite challenges.
But this is quite expensive (since everything must be done with scripts and fully settled transactions on the chain) and clumsy. While these kinds of designs can be made more efficient ultimately they all require the Cardano network to reach consensus on the status of any intent proposals, not just their settlements. This is inevitably going to be costly, especially for use cases (such as trading orders) which have high volume.
ADA Price To Soar?
Network upgrades often lead to price spikes as transaction activity surges. As a result, users ramp up the utility token amid the buzz sparked around crypto spaces. Cardano has seen its fair share of updates, and the price spiked with Hoskinson rolling out new developments on the roadmap.
At press time, ADA price stands at $0.35, a 2% decline in the last 24 hours. This comes following major developments in the network and the recent surge in the wider market as Bitcoin moved past $67k. While many expect the assets price to recover, low interest creeps in as it underperforms in the short term.
Text source: ZyCrypto
