Cardano has announced an update proposal to improve its per-block Plutus script memory units cap from 56 million to 62 million, causing ADA to jump 2.5% in the past day to over $0.9.
Input Output Global, the entity developing Cardano, says that the upgrade will be effected from March 21 at 21.44 UTC, when the blockchain reaches epoch boundary 328.
IOG cautions users that there might be network congestion as more DeFi projects deploy, NFT drops, and token launches.
The company expects the update to boost the network scalability and has announced that it will be monitored for five days after launch before any adjustment is made.
Plutus is an essential component in Cardano’s implementation of smart contracts. The protocol allows users to deploy smart contracts with minimal coding expertise.
Input Output Global, the firm behind Cardano, has committed to optimizing and expanding the network in the near future.