HomeNEWSInput Output submits proposal for network upgrade

Input Output submits proposal for network upgrade


Follow us


Renowned builder of the Cardano, Input Output has launched a proposal to upgrade the blockchain. The development firm announced the development in its Friday Twitter post. According to Input Output, it plans to carry out the upgrade in collaboration with Cardano foundation.

Notably, the firm said the approval of the proposal means the Cardano pre-production environment will be upgraded to protocol v8. This, as revealed, takes effect from Saturday, February 11, 2023. Further, the proposal also features the upgrading of the mainnet to protocol v8. This is expected to unfold on Tuesday, February 14, 2023.

Input Output making moves to expand the Cardano blockchain

Over time, Input Output, has been committed to improving the Cardano network. In late January, the firm gathered a team of engineers to harness the rock-solid foundation of Cardano to develop a toolkit for building custom sidechains. Worthy of note that sidechains ensures Cardano extensible and further scalable without compromising the stability or security of the main chain.

Recently, it also partnered with NMKR, an NFT minting and payment infrastructure on Cardano to foster the adoption and popularity of NFTs. Through the collaboration, NMKR decided to build a minting API for a new NFT ecosystem. This thus makes it easy for anyone to mint and engage with NFTs. Remarkably, the partnership also enables NMKR to avail the technology on the Cardano blockchain. According to the CEO of Input Output Global, Charles Hoskinson, the firm seeks to build a better tomorrow for everyone through technology.

Similarly, the Input Output team also launched the Cardano EVM sidechain last July. According to reports, it designed the sidechain to enable Cardano enjoys better scalability, interoperability, and programmability. Notably, this EVM sidechain remains the first sidechain, launched by the team. Through the sidechain, developers develop and deploy EVM-compatible smart contracts on Cardano. More so, it enables them to initiate decentralized governance applications. This thus fosters on-chain governance and voting experience.

Launching of privacy-based blockchain, Midnight

Worthy of note that Input Output recently launched a new privacy-based blockchain. It identified the blockchain as Midnight. Notably, it accompanied the blockchain with a token, identified as dust. According to Hoskinson, midnight as a new blockchain runs as a zero-knowledge proof technology, designed to operate around Cardano. Reportedly, the privacy blockchain offers zero-knowledge-proof smart contracts. This thus allows users to seal transactions without revealing their personal data to one another.

Read More:

Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

Most Popular