Cardano 1.4 Update Launches with the Most Significant Update for ADA Cryptocurrency
Some cryptocurrencies and projects continue to expand amid a bear market that affected the whole industry. Cardano (ADA) has released the latest update known as Cardano 1.4. This is one of the most awaited updates of the network and the most important one up to date.
One of the main things that this update enhances is the increase in storage capacity. It also includes other code fixes. At the same time, it paves the way for the network to be fully decentralized with Project Shelley.
The information was released in a blog post by the IOHK team. As they mention, this update solves some of the network connection issues that affected several users. With optimized block storage, it was possible to reduce the number of files required from 1.3 million to just 44,000.
Daedalus’ and Cardano SL’s backend has been completely rewritten for this release. The wallet backend has also been developed and tested against the formal specification for Cardano wallet. In this way, it will have improved performance, reliability and an enhanced input selection for transaction creation.
IOHK has just announced the release of Cardano 1.4, the most significant update for Cardano yet! Read more here: https://t.co/eRXTjI2l4v
— Cardano Foundation (@CardanoStiftung) December 18, 2018
The official announcement reads as follows:
“The Cardano wallet formal specification has significance outside IOHK and Cardano as well. It’s the most comprehensive document yet that describes UTxO cryptocurrency wallets and their behaviour, with all subtle edge cases, using mathematical techniques.”
UTxO wallet implementations that are developed based on this specification can use formal verification techniques to demonstrate that the design and implementation are correct with respect to the formal specification.
The backend implementation changes the way in which wallet data is stored and managed. This is why all wallets have to be restored and synchronized with the Cardano’s blockchain.
Cardano is currently the 11th largest virtual currency in the market. Each ADA coin can be purchased for $0.037 and it has a market capitalization of $960 million.