New scaling plans appear to be driving ADA’s bullish price action

Cardano is back in the green.

Input-Output Hong Kong, the company developing Cardano, has announced new plans for how it will scale the network in 2022. The goal is to increase the network’s capacity and throughput through various parameter adjustments, improvements and other innovations.

The engineering and research firm wants to prepare the smart contracts blockchain for a significant increase in usage and plans to bring hundreds of thousands of users on board.

Some of the key expected on-chain upgrades include increasing block size, introducing pipelining to reduce block propagation times, and input endorsers to increase the number of transactions per second. IOHK also plans to introduce sidechains so tokens from one chain can be used in another, as well as more resource-efficient processes to handle transactions outside the main chain.

The new scaling initiatives seem to have been welcomed by market participants, as Cardano is one of the few large-cap cryptocurrencies to start Monday on a positive note. ADA has gained nearly 12% in market value since its weekly opening and could have more room to go up.

Source: Crypto Briefing

Previous articleHow to use the 2FA
Next articleWalmart to venture into crypto and NFTs