Input Output Global (IOG), the developer of the Cardano blockchain, announced that the new ‘Valentine’ Upgrade is now live on Cardano Mainnet.
Cross-chain capability for decentralized finance (DeFi) applications developing on the network will be strengthened by the “Valentine” upgrade.
Input Output Global announced that the upgrade would support the Plutus SECP cryptographic primitive. IOG clarified that SECP native support promotes cross-chain interoperability while maintaining the highest level of security.
“Interoperability is key for blockchain growth. As more DApps are built on #Cardano, it is essential that they are not siloed to just one ecosystem, enabling users to interact with different blockchains and access a wider range of services,” IOG noted.
A proposal for the upgrade was issued on February 8, 2023, and went into effect on testnet on February 11, 2023, at 0:00 UTC. Before being eventually released on the mainnet, the upgrade was first tested in a virtual testing environment that replicates real-world performance.
The upgrade is expected to boost Cardano’s cryptographic capabilities while facilitating the creation of cross-chain decentralized applications (dapps) on Plutus, the Cardano blockchain’s smart contract platform.
Cardano Price (ADA) price was impacted positively following the Valentine Updrade, now trading at a price of $0.3936, up 8.50% in the last 24 hours.
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