fbpx

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 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. 

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.

Cardano Could Begin Burning ADA

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.

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 to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.