Cardano Team Proposes CIP-35 To Speed Up Smart Contracts

They’ve made progress on their goal to become a favourite choice for decentralised finance (DeFi) developers. The development team behind the project doesn’t seem to be taking a break from releasing big changes.

They have kept coming up with good ideas for how to grow the network so that it can compete with Ethereum and other decentralised networks like Solana or Polygon. The Cardano Improvement Proposal (CIP) team has been doing this for a while now.

The CIP-35 Proposal is what people want to do next

Tim Harrison, the director of IOHK Communications, said earlier this week that the core developers’ team has come up with a new idea for the Plutus smart contract platform. The new idea is called CIP-35.

Proposed upgrades to Plutus’ core and interface pages will start the process of making them better.

This is according to the CIP-35 proposal. Smart contract developers who build on Cardano will be able to change and upgrade their codes in time if they have a clearer structure.

To make it easier for programmers to make changes and upgrades to their codes, CIP-35 will add shortcuts. This will make it easier for them to take shorter routes to do so.

The CIP-35 proposal, on the other hand, will speed up new updates to the Plutus smart contract, which could speed up transactions for all protocols on the network even more.

Criticism: Cardano is slammed for taking so long with upgrades

Cardano has come under a lot of fire from crypto enthusiasts because it has taken so long to make big changes to the network, especially its smart contract functionality.

A team called the IOHK team in 2021 to respond to these criticisms said in November that it only releases updates after carefully evaluating how they will affect its system, because it doesn’t want to put the long-term security of the Cardano network at risk.

As Cardano is criticised, he grows

These people say that the project’s team isn’t doing a good job with important network upgrades, but they think they’re right. This would make the network more competitive in the long run.

So far, Cardano has been getting more and more popular, despite all the negative attention. There has been a lot more activity from users.

The number of transactions on the Cardano network has now passed 30 million, and the total value locked (TVL) has also passed $99 million. This is because decentralised exchanges like SundaeSwap have been used to make transactions on the network.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *

Facebook
Twitter
Telegram

Recent Posts

Follow Us