Will Cardano's upgrade affect ADA's price?
The Cardano protocol will be updated to enable smart contract creation. Community demand will drive this new product. The CIP-0069 proposal will help Cardano create decentralized apps with the upcoming upgrade. Charles Hoskinson, Cardano's creator, thinks the upgrade won't delay the Chang delivery in June.
Chang, a Cardano hard fork, will bring community governance, enhancing network decentralization. Every Cardano ADA coin holder may help create and decide on the upgrade.
According to Hoskinson, it's important to notice unexpected changes that might be harmful and pose new risks.
However, the team will work hard to implement CIP-0069 in Chang. The Cardano development forum delayed this release because the network team was suffering with mutual reliance, where two validator nodes must know the hash to operate.
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Mutual reliance limits network protocol security and flexibility while creating a decentralized application.
The upgrade was delayed owing to a frequent Cardano script development problem. Current script and token design causes the problem.
ADA transaction functionality and security depend on Cardano scripts. They define how digital assets may be moved or spent, like instructions.
New CIP-0069 proposal tries to reduce Cardano script mutual reliance. We won't need to know each other to use this script.
The change will let the team use one validation script for several functionalities. For instance, scripts facilitate decentralized application development and boost Cardano developer security and confidence.
If the upgrade works, the network's decentralized app ecosystem will be stronger and able to compete with Ethereum, Solana, Polygon, and Binance Smart Chain.
Would ADA be a smart investment?
Cardano will issue its upgrade to enhance the ADA price in April, but CriptoNoticia reports a 50% investor correction that hurt the network. Based on its RSI, Santiment believes ADA is a better investment than others.
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