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The latest upgrades have been introduced by the Cardano protocol across its main applications. This proof-of-stake (PoS) network aims to reposition its chain in response to increasing competition in the market. The development report from Cardano disclosed that 1,358 projects are currently in progress on its chain.

In order to provide a platform for developers to create functional applications, the blockchain analyzed and implemented benchmarks for performance and tracing in the Conway era. Through the injection of DReps and tracing DRep data, improvements were made in the transaction generator tool to reduce errors.

This upgrade will result in improved transaction execution on Cardano's main chain, enhancing the user experience with smoother transactions. Furthermore, the Cardano Hydra scaling protocol was revamped, addressing network protocol version mismatches.

Additionally, Cardano's Project Catalyst Fund 12 is currently active, with submissions open globally. Previous Project Catalyst programs have been successful in bringing new innovators onto the Cardano platform at various intervals.

Amid a bullish rebound in the broader digital currency ecosystem, Cardano stands out with a 2.97% price increase to $0.4636. The upgrade strategically positions the protocol to compete more effectively in the Decentralized Finance (DeFi) ecosystem, aiming to rival protocols such as Arbitrum (ARB), Polygon (MATIC), and other Ethereum-based protocols like EigenLayer.

The goal is to maintain a highly scalable network to meet the expected liquidity demand when it arrives. As market sentiment improves, ADA's trading volume has increased, leveraging its growing transaction count to attract new liquidity.