Cardano Price Surges 11% as Developer Team Shares Update on Ouroboros Leios Upgrade

The Cardano community is abuzz with excitement as the developer team shares an update on the Ouroboros Leios upgrade. This major development has contributed to a significant surge in ADA's price, rising 11% in the past 24 hours and displacing Bitcoin Cash (BCH) from its position as the 10th-largest cryptocurrency.

The Ouroboros Leios upgrade is a testament to the hard work and dedication of the Cardano developer team. With over 679,138 lines of code written and 3,140 GitHub commits, this project has made significant progress in its development journey. Contributions from over 35 global contributors have also been instrumental in shaping the future of the Cardano network.

According to Adastack on X, the Ouroboros upgrade is not a sudden miracle but the result of steady and persistent work. This sentiment is echoed by Lucas Macchiavelli, Cardano Ambassador, who noted that the public Leios tracker showed 67% completion in the CIP.

The upgrade aims to increase Cardano's throughput by 30-50 times, making it a significant milestone for the network. With its ability to rival the security of Proof-of-Work (PoW) systems while offering several benefits, Ouroboros is poised to revolutionize the way transactions are processed on the Cardano network.