Testing of the Cardano update should start on February 11


Cardano has announced a launch date for the update, focusing on the simplicity of building applications that can be used on multiple networks.The new version will first be tested in a special environment that reproduces a real network configuration, after which it will be put into practice on the Plutus smart contract platform. Testing will start on Saturday, February 11.

The addition of crosschain capabilities will allow developers to create bridges between Cardano and other blockchains.As a result, assets from one network can be transferred to another — for example, using so-called wrapped tokens. 

Recently, the total value of assets locked up in Cardano-based decentralised applications exceeded $100 million, the highest amount in eight months; however, more than half is accounted for by the Minswap and Wingriders exchanges.

It is not surprising that Cardano's interest in DeFi is growing, because last month they launched DJED, an algorithmic stablecoin with a multiplicity of collateral required for the issuance of tokens in the range of 400%-800%. This should help ensure the stability of their stablecoin in times of market instability.

In January, there was a significant failure of the Cardano network, with around half of its nodes going offline, causing a significant slowdown in blockchain production.

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