Cardano Blockchain’s Valentine Upgrade Goes Live, Finetunes Cross-Chain Functionality

The Valentine upgrade was discussed within Cardano validators around a month ago and the proposal was passed with majority validators voting in favour.

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 15 February 2023 16:41 IST

Cardano Blockchain’s Valentine Upgrade Goes Live, Finetunes Cross-Chain Functionality

Photo Credit: Unsplash/ Michael Förtsch

Ethereum co-founder Charles Hoskinson led the development of Cardano back in 2015.

Highlights

Cardano is a Proof-of-Stake (PoS), energy efficient blockchain
Cardano was launched in 2017
The blockchain is expected to get more upgrades in coming times

The Cardano blockchain has marked the completion of its latest Valentine upgrade, that brings a bunch of network improvements. The eco-friendly proof-of-stake (PoS) blockchain announced the development on February 14, Valentine's Day. The upgrade is now live on the Cardano mainnet and will expand the cross-chain interoperability for developers as well as for the holders of its native ADA token. The upgrade also brings along security upgrades to the Cardano ecosystem.

The Valentine upgrade was discussed within Cardano validators around a month ago and the proposal was passed with majority validators voting in favour.

The aim is to make the blockchain suitable and advanced enough to host decentralised finance (DeFi) apps with an expanded list of cross-chain functionalities.

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Happy #Valentine Day Upgrade :blue_heart:

Live on mainnet :confetti_ball: #Interoperability #Cardano pic.twitter.com/YzXdb50t48
— Cardano Foundation (@Cardano_CF) February 14, 2023

The development also improves Cardano's ross-chain dApp platform called Plutus. “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,” Cardano developer said in a tweet.

Native support for SECP now fosters cross-chain interoperability while ensuring the highest level of security. With the #Cardano #Valentine upgrade, developers can now easily create cross-chain DApps that are secure, reliable, and cost-effective.

3/4
— Input Output (@InputOutputHK) February 14, 2023

Ethereum co-founder Charles Hoskinson led the development of Cardano back in 2015. The blockchain released in 2017 and soon grew to become a popular, green choice among developers.

Following the development, Cardano's AOA token grew by around two percent to trade at $0.384 (roughly Rs. 30), showed the crypto price tracker by Gadgets 360.

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Cardano's Valentine upgrade is the first blockchain upgrade to have made it to the headlines in 2023.

The Ethereum blockchain, that upgraded to a greener version called the Merge last year, is next in line to undergo another transition.

In March, Ethereum is expected to complete its Shanghai upgrade, that will allow Ethereum validators to finally withdraw the assets that they have staked on the blockchain. It is estimated that $22.38 billion (roughly Rs. 1,82,520 crore) worth of Ether tokens are currently staked on the blockchain.

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Further reading: Cryptocurrency, Cardano, Valentine Upgrade, Ethereum, Shanghai

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More