The Cardano community has a lot to be excited about this Valentine’s Day. The highly anticipated Valentine (SECP) upgrade is set to bring a host of new advancements and improvements to the Cardano network.
As one of the leading blockchain platforms in the world, Cardano has always placed a strong emphasis on security and interoperability. The Valentine upgrade is designed to further enhance these features, specifically for cross-chain DApp development with Plutus. This will allow developers to create decentralized applications that can securely interact with other blockchain networks, leading to new opportunities for innovation and growth.
According to the Twitter thread posted on 8 February 2023 by Input Output Global (“IOG), the blockchain technology firm responsible for the development of Cardano ($ADA), the Valentine upgrade is scheduled to go live on the mainnet on 14 February 2023, at 21:44:51 UTC. The Cardano Foundation and IOG are working closely with exchanges, staking pool operators (SPOs), and DApp/tool developers to ensure a smooth transition to the new upgrade.
In a blog post published on 19 January 2023, Tim Harrison, Vice President Community & Ecosystem at IOG, explained why IOG is “adding new built-in functions to Plutus to support ECDSA and Schnorr signatures.”
Harrison discussed the importance of cryptography in blockchain settings and the different cryptographic signature methods used in various blockchains. Apparently, Cardano uses the Edwards-curve Digital Signature Algorithm (EdDSA), which offers fast signature verification and small signature sizes. However, the variance in algorithms can make it challenging for Plutus DApp developers to validate signatures from other blockchains, such as ECDSA and Schnorr. To address this issue, IOG has added new built-in functions to Plutus to support ECDSA and Schnorr signatures, making it easier for developers to build cross-chain applications and providing the highest level of security.
Image Credit
Featured Image via Pixabay
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.