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Cardano Rallies After Valentine Upgrade Goes Live

• Cardano (ADA) released the Valentine upgrade, and the token has seen a positive response in the market.
• The Valentine upgrade was aimed at improving security and interoperability for DeFi applications building on Cardano’s network.
• Recently, Cardano ranked second in GitHub development activity and had over 5,000 smart contracts on its network.

Cardano Launches Valentine Upgrade

The Cardano (ADA) blockchain recently released its Valentine upgrade, which is designed to improve security and interoperability for DeFi applications building on the platform’s network. As a result of this update, ADA has seen a positive reaction from traders, with prices increasing by around 5%.

Valentine Upgrade Aimed at Interoperability

Input Output, the parent company of Cardano, tweeted that the Valentine upgrade was aimed at improving security and interoperability between different blockchains. In early February, validators on the Cardano network passed a proposal to improve cross-chain functionality for DApps built on its platform. This would enable users to access services offered by different blockchains without being confined to one ecosystem.

Positive Performance Indicators

The locked value of tokens stored in Cardano-based dApps has increased over 100% since the start of 2021 to more than $110 million – indicating an increase in demand for ADA tokens. Additionally, Cardano recently ranked second for GitHub development activity among leading smart contract cryptocurrency projects by staking market capitalization. It also boasts more than 5,000 active smart contracts on its network.

Increasing Development Activity

In addition to launching its Ethereum sidechain public testnet earlier this year, Input Output has been working hard to achieve various technological advancement goals related to Cardano’s development process. This includes releasing a sidechain building toolkit that will allow developers greater flexibility when creating new DApps and protocols for use on the mainnet chain.

Conclusion

All signs point towards continued success for both Input Output and the Cardano blockchain as it continues to invest time and resources into developing advanced upgrades that make it easier to develop innovative solutions using their technology stack. With increased demand from traders and developers alike, ADA looks set to remain one of the top cryptocurrencies throughout 2021 making it an attractive investment option moving forward