Cardano’s Mithril stake-based multi-signature scheme may soon launch on the mainnet, according to an IOG weekly report. Mithril leverages the existing Cardano network to provide certified snapshots of all or part of the blockchain, improving the speed and efficiency of syncing times for nodes joining the network. The team is currently seeking feedback and testing from a client perspective.

The report also highlighted ongoing work on node, ledger, and networking improvements by the core technology teams. The Lace desktop development team improved the error handling of CIP-30 DApps operations and fixed issues with signing CIP-30 transactions using hardware wallets. Meanwhile, the Adrestia team extended the multi-signature feature with delegation functionality in cardano-wallet and worked on performance optimization of cardano-services in cardano-js-sdk.

The Plutus team continued working on the Marconi MVP development, with test performance optimizations for cardano-api and Plutus end-to-end testing. The Marlowe team made significant improvements to the golden tests for the Marlowe validator and added the escrow contract to the examples suite in the specification. The Hydra team addressed issues with committing complex UTXOs into a Hydra head and prepared the Hydra node to support mainnet.

Finally, the report highlighted the publication of CIP-1694, describing Cardano’s future on-chain governance system, which has been received with anticipation and excitement. IOG, the Cardano Foundation, and Emurgo hosted a community workshop in Longmont, Colorado, in February 2023, sparking deep engagement and insight gathering from a broad spectrum of community interests and experiences. This week, a large update to CIP-1694 was pushed on GitHub, encouraging direct engagement and comments from the community.

Overall, the IOG weekly report showcases the ongoing development and progress of the Cardano network. With the potential launch of Mithril on the mainnet, stakeholders and clients can look forward to improved syncing times and increased efficiency. The ongoing work on wallets, smart contracts, and scaling, along with the exciting developments in governance, demonstrate the network’s commitment to continuous improvement and growth.

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This article was republished from azcoinews.com

Tether (USDT), the controversial stablecoin that has been subject to scrutiny by regulators and investors alike, has seen a surge in its market capitalization over the past 10 months. According to data from CoinMarketCap, the USDT market cap has reached a record high of $75 billion, up 10% from the previous month.

The surge in USDT’s market cap comes at a time when other stablecoins, such as Binance USD (BUSD) and USD Coin (USDC), have been facing regulatory and banking issues. This has led investors to seek out the relative stability of USDT, which has been able to weather the storm in the cryptocurrency markets.

USDC, BUSD and DAI market caps have all declined in the past month, while USDT has seen a $5 billion increase in market cap. USDT’s stablecoin market share has also reached its highest level since July 2021, currently standing at 56.4%. The current total market value of stablecoins is around $134.5 billion, with USDT, USDC, BUSD, DAI, and TUSD accounting for the majority of this value.

Santiment, a blockchain analytics firm, has revealed that large-scale tether transactions have also increased. According to Santiment, there have been eight Tether transactions worth $1 billion or more over the past year, with half of them occurring in the past 10 days.

Large investors have been pulling their USDT holdings from exchanges in response to the collapse of crypto-friendly banks. This has led to a decrease in the amount of Tether circulation remaining on exchanges, which is now at a 10-month low, down 28.9%. This decrease in circulation on exchanges is seen as a positive sign by investors, as it indicates that they are holding onto their USDT holdings for the long term.

Overall, the surge in USDT’s market capitalization is a positive sign for the cryptocurrency market, as it indicates that investors are seeking out stability amidst the volatility of the market. However, the controversial nature of USDT, which has faced accusations of being backed by insufficient reserves, will likely continue to be a source of concern for regulators and investors alike.

#USDT #USDC #Tether #Stablecoins #acoinnews

This article was republished from azcoinnews.com