Cardano (ADA) is the second best performing crypto asset among the top 10 cryptocurrencies in the past week timeframe. Avalanche is positioned in the first place.
The relatively better performance of Cardano than other major crypto assets in recent days can be attributed to the increase in the number of projects developed in its ecosystem, which is seen as its internal dynamics, and the recent developments implemented in the network.
Cardano's developer company, Input Output Global (IOG), is focused on optimizing and improving the network. Today, IOG released the latest update offering that increases the limits for Plutus script memory units per block from 56 million to 62 million. The company announced that this update will help with the scalability of the network. It is seen as one of the newest components of Cardano, as smart contract integration into the network has been achieved with Plutus.
With Plutus, users can efficiently create their own smart contracts without technical knowledge and code protection. With Plutus, which is shown as one of Cardano's most competitive products, the managers aim to eliminate the problems in the DeFi sector and add more users to the ecosystem.
IOG added that the update will go into effect on March 21 at 00:44 CEST, when the network will reach its 328th period limit. The company highlighted the tremendous growth in recent months and shared the expectation that this growth will continue in the future.
In this sense, the company also warned of the potential increase in network traffic as a result of new DeFi projects launched in Cardano and new users entering the network. Accordingly, it is reported that congestion may occur in the network, especially in the case of NFT exits or a token launch.
In the statement made by IOG, they stated that as the Cardano ecosystem grows, they focus on the scaling phase, while maintaining security and decentralization is a priority, and they will focus on improving speed and network capacity over time.