Cardano’s Block Size Increases by 10% Ahead of Vasil Hardfork — ADA Gains 8%
In an official post, the team behind the Cardano project, Input Output Global (IOG), has confirmed the approval and implementation of a proposal to increase the network’s block size.
Cardano Block Size Increases by 10%
In February, Cardano’s block size was increased by 11% – from 74KB to its current 80KB. On April 25th, IOG announced a further 10% increase to the network’s block size.
According to the announcement, the blocksize of the Cardano mainnet was increased by 8KB to 88KB on Monday, April 25th (UTC 20:20:00) at the boundary of epoch 335.
On a blockchain, transaction batches are confirmed and written in blocks. Increasing the block size means that more transactions can be included in every Cardano block, increasing the overall network capacity and lowering transaction times.
A Series of Network Improvements for Cardano
IOG explained that this marks a “significant network enhancement” in a series of network upgrades that will allow it to improve the scaling capabilities of the Cardano network in 2022.
By increasing its block size, IOG expects an increase in Cardano’s throughput and in the performance of the decentralized applications (dApps) on the blockchain.
IOG has continually improved the performance of the Cardano blockchain as it builds towards the Vasil Hard Fork. Additionally, IOG recently launched the Cardano ERC-20 converter, introducing ERC-20 token migration to its platform.
On the Flipside
- Cardano (ADA) has gained in value by more than 8% over the last 24 hours, benefiting from the news and the rally being experienced in the broader crypto market.
The 24 hour price chart for Cardano (ADA). Source: Tradingview
Why You Should Care
IOG looks to optimize the Cardano blockchain as it prepares for its next Hard Fork Combinator (HFC) event, scheduled for June this year.
Read more: https://dailycoin.com/cardanos-block-size-increases-by-10-ahead-of-vasil-hardfork-ada-gains-8/
Text source: DailyCoin.com
