Cardano Increases Plutus Script Memory as Developers Look to Introduce Burn Mechanism

Since launching the Alonzo smart contract upgrade last September, Cardano has consistently rolled out network upgrades as it looks to embrace smart contract functionalities fully.

Since launching the Alonzo smart contract upgrade last September, Cardano has consistently rolled out network upgrades as it looks to fully embrace smart contract functionalities.

Just a week after Cardano founder Charles Hoskinson announced the first public testnet of ‘Hydra Heads‘, Input-Output Global has put forward a proposal to increase the memory of the network Plutus scripts.

Cardano Increases Plutus Script Memory

The proposal put forward by IOG, formerly known as IOHK, will see the limit of memory units per block for the blockchain’s Plutus scripts increase from 56 million to 62 million. 

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According to the proposal, by increasing the memory of the Plutus scripts, IOG hopes to increase the network’s scalability. As per the announcement, the update went live on March 21st and will be monitored by IOG for five days.

Plutus script enables users to leverage a programming environment, remove friction from the DeFi sector, and help more users onboard to the Cardano ecosystem.

IOG also shared another interesting development for the Cardano network. According to IOG, the Hydra team is working on finalizing a new transaction workflow that will add token-burning functionalities to the Cardano blockchain.

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As revealed in its roadmap update, the Hydra team reportedly “inspected the options of token minting and burning within a Hydra Head.”

On the Flipside

  • Despite the developments, Cardano still anticipates a large wave of projects that could impact the price of ADA

Why You Should Care

In order to onboard more people into its DeFi ecosystem, Cardano continues to make incremental adjustments and network optimizations to improve the performance of its blockchain.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia