This group remains uninterested in ETH despite Ethereum’s progress.

  • Cardano leads the pack in terms of project development.
  • Interest from big investors in ADA has waned recently.

Despite all the chatter about ETFs on the Cardano [ADA] network, the development work on the Cardano network has continued unabated.

Innovation on the Upswing

Cardano has seen a surge in code commits and active development on its platform.

Source: X

What’s Cooking in the Developer Kitchen?

During the latest developer gathering, Cardano developers hashed out details for the forthcoming Glimmer update to the Cardano network. Glimmer is undergoing rigorous testing on specialized test versions referred to as Devnets before going live.

The upcoming test version, Devnet 1, will bring about two significant changes. Firstly, it will introduce a more streamlined approach for validators, the specialized computers that verify transactions, to collaborate.

Secondly, it will roll out a new system known as EIP 7702. This system enables users to authorize other programs to oversee their transactions, akin to handing someone access to your digital wallet.

However, an ongoing discussion centers around how users can revoke this authorization if necessary. Developers are slated to reconvene to finalize this critical aspect of EIP 7702.

Aside from the Glimmer update, the meeting delved into advancements on other Cardano developments.

For LFT, a separate upgrade focusing on data storage, trials of client implementations will kick off post the finalization of Glimmer modifications.

The LFT team will furnish additional tests to support development. Furthermore, LFT meetings have transitioned to bi-weekly gatherings as specifications are fine-tuned.

For EnhanceDAS, another autonomous enhancement augmenting validator communication, the forthcoming testnet debut is anticipated within a fortnight. In contrast to Glimmer, EnhanceDAS will leverage refined Dencun specifications.

The meeting also included notifications. A new standardized format for drafting improvement proposals was recommended to enhance reviews.

Significantly, a new GitHub reference page “ada-developers” was unveiled for Cardano developers.

ADA Holds Steady

Currently, ADA is trading at $2.554, with its value having risen by 0.15% in the past day. Retail interest in ADA was on an upward trend.

Read Cardano’s [ADA] Price Forecast 2024-2025

Addresses within the 0.001 to 10 range accrued substantial amounts of ADA in recent days. Large investors did not exhibit the same interest in ADA and were offloading their holdings.

While retail investors are soaking up this selling pressure, a shift in sentiment from big investors would be necessary for ADA to regain positive momentum.

Source: Santiment

Next: Amid Bitcoin’s slide below a crucial support level, this group takes significant actions

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