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ADA price explodes again – is Cardano going to the next level?

 


After several difficult weeks, Cardano's ADA token has again recorded strong price gains in the last few days. The year 2022 starts extremely promising for the cryptocurrency. The new basho update could push Cardano to new heights in 2022.


ADA price gains 18% in the last 7 days

Many altcoins have made huge gains in the last 7 days. Also among a big gainer is Cardano's ADA token, which at the time of writing is up 18% in the past 7 days, rising to $1.40. This is the first major correction to the upside for the ADA token after the price has steadily declined over the past few weeks.


In September, the price of the ADA token was still over 3 dollars. At that time, Cardano introduced smart contract functions for the first time, which opened the way to decentralized applications for the network. The big Bitcoin correction caused the ADA course to fall more and more and, like other cryptocurrencies, lost massively in value.


Cardano rolls out Basho Update

The development of Cardano takes place in several development steps. For this purpose, the Foundation has designed a rod map in which the development is presented in a way that is comprehensible for everyone. At the moment phase 4 of the development of the platform begins: Basho . In 2021, Goguen phase 3 came into effect and established smart contracts.


Basho aims to advance the scalability of Cardano. This is becoming increasingly important as other blockchains such as Solana and Avalanche have made serious strides in these areas. With Basho, Cardano now wants to compete with these extremely fast networks and also score points with decentralized projects thanks to its existing technical excellence.


New details about Cardano's basho

Until now, the details about the improvements in basho were not known. Marketing & Communications Director Tim Harrison named a few points yesterday. Basho will therefore improve:


 Larger block size with the ability to process more transactions at once

 Lower block propagation time

 Prepared blocks with a more even spread

 New CPU parameters - less memory required 

 More effective UTXOs – this reduces the memory load for the blocks


These announcements probably had a positive impact on the Cardano price. With Basho, the network is poised for a successful 2022.

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