In its latest update proposal, Cardano developer Input Output has revealed an increase in the network block size by 11%, growing its current capacity from 72KB to 80KB. With this, the team aims to scale and optimize the Cardano network throughput.
“…we have proposed the next parameter update as we continue to increase #Cardano network capacity in line with the plan. The proposal will increase the block size by a further 8KB taking it from 72KB to 80KB,” the development team said in a Tweet today.
This latest adjustment represents an increase of c. 11%.⬆️
— Input Output (@InputOutputHK) February 1, 2022
By increasing the block size, each block will carry out more transactions as it looks to ease blockchain traffic amid increased adoption. However, an increase in block size may result in scalability issues in the long term as well as transaction times.
In addition, Input Output has also introduced another proposal to increase Plutus script memory units per transaction on the Cardano blockchain. Plutus is Cardano’s smart contracts platform. As part of the proposal, the memory units will increase from 12.5 million to 14 million.
Both the updates will take effect on 4 Feb at 21:44:51 UTC. The development team said in a tweet:
“This adjustment forms part of a planned series of network optimizations. Cardano will continue to be steadily optimized in a series of measured steps this year, carefully & methodically scaling #Cardano for future growth as demand increases.”
Since the announcement, the number of Cardano wallets holding between 10,000 to 1,000,000 ADA has increased by more than 15,000%, as per data by crypto analytics platform IntoTheBlock.