Friday, May 27, 2022
HomeBlockchainCardano Announces the Start of Major Process to Boost Scalability of Plutus...

Cardano Announces the Start of Major Process to Boost Scalability of Plutus as SundaeSwap Goes Live

Input Output Global (IOG), the software firm behind the development of Cardano (ADA), has announced the commencement of the update proposal process to boost the scalability of Plutus, Cardano’s smart contracts platform, as SundaeSwap DEX finally launched on mainnet.

In a series of tweets on 20th January 2021, IOG stated that the process is targeted at increasing the Plutus script memory by 1.2M on the Cardano mainnet. The report added that the increment will become effective from 25th January at 21:44:51 UTC.

Read Also: Cardano-Based Decentralized Exchange Minswap to Launch on Public Testnet on 25th January

This implies that the major process will increase the smart contracts platform’s script memory units per transaction from the current 11.25M to 12.5M.

Input Output Global tweeted, “PARAMETER UPDATE: Today, we have commenced the update proposal process to increase Plutus script memory units per transaction on the Cardano mainnet by 1.25M. This initial change will take effect at the boundary of epoch 317 on Tuesday 25th January at UTC 21:44:51.

“The current Plutus script memory units per transaction = 11.25M. After this change, it will be 12.5M. This incremental adjustment is the next in a continuing series of planned adjustments & network optimizations we’ll make as we start to scale Cardano for future growth.”

Read Also: Charles Hoskinson Outlines Developments He Expects Cardano to Complete In 2022

According to IOG, the major upgrade is expected to provide increased resources for Plutus and the decentralized applications (DApps) using them. Once the upgrade is deployed, it will be monitored for at least five days to determine the next increment.

SundaeSwap Finally Launches

As outlined in a blog post on 15th January, SundaeSwap has finally launched as a fully-functional beta decentralized exchange (DEX), and Yield Farming SUNDAE rewards is expected to start today.

SundaeSwap Labs announced, “Creating pools and depositing liquidity is now live! Swapping will be enabled at 21:45 UTC today!”

Read Also: Analyst Jason Pizzino Lays Out His Forecast for Cardano (ADA) as the Crypto Market Recovers

In the earlier mentioned announcement, IOG said with the arrival of many exciting projects on Cardano, users should expect network congestion:

<

“We’re already seeing a huge number of exciting CNFT projects thriving on Cardano. With the arrival of many exciting new DeFi projects over coming weeks, users should expect network congestion & this may be significant at times of peak load around launches and large drops.

“While users may experience delays in transactions going through, the network has been designed to safely manage high peak loads. Throughput will steadily improve as we continue to optimize.”


Follow us on Twitter, Facebook, and Telegram

Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.
RELATED ARTICLES

Latest News & Articles

Recent Comments