2023-05-12 12:38:22
The Cardano (ADA) blockchain has reached a significant milestone by launching «Hydra Head« on your mainnet to speed up transactions on the Cardano blockchain.
On May 11, developer Sebastian Nagel announced on Twitter the highlight event in ongoing efforts to improve transaction processing capabilities for decentralized applications (dapps) on the Cardano blockchain.
???? 0.10.0 is out!
After demonstrating Hydra heads on the Cardano mainnet in recent monthly review sessions, we have released the first mainnet compatible version of hydra-node today.
Check out the full release notes over here:
— Sebastian Nagel (@ch1bo_) May 11, 2023
WHAT IS HYDRA HEAD?
For the uninitiated, Hydra Head is a scaling tool that aims to increase the speed of transactions on the ADA blockchain.. It is the first in a series of Layer 2 protocols designed to improve the scalability and adaptability of the platform for various use cases, prioritizing fast and cheap transactions.
According to the announcement, Nagel noted that Hydra node version 0.10.0 has been released in an effort to make the Cardano blockchain more adaptable for various use cases.. The hydra-node includes numerous technical changes and improvements that are necessary before a Hydra Head can be used with real world transactions.
The developer further explained in a series of tweets that each Hydra Head functions as an off-chain “mini ledger” shared among a small group of participants, helping speed up transactions and significantly lower fees.
In a previous announcement, Input Output Honk Kong (IOHK), the creator of Cardano, revealed that the Hydra protocol will allow Cardano to compete with other blockchain networks that are currently more widely adopted in areas such as decentralized finance (DeFi) and non-fungible tokens (NFTs).
DESPITE THE FALL, FANS ACCUMULATE ADA
Despite the significant event, ADA prices have yet to see a positive move. According to CoinMarketCap, the digital token is down 0.34% in the last 24 hours to trade at $0.36. Meanwhile, in the past seven days, the altcoin is down more than 7%, in line with the broader crypto market.
Lately I’ve been building on #Bitcoin and accumulating on #Cardano. It’s the ultimate crypto power play.
— Dan Gambardello (@cryptorecruitr) May 10, 2023
Even in this situation, several cryptocurrency experts have expressed a bullish stance on the digital token.. Recently, Crypto Venture Capital founder Dan Gambardello claimed that he has been building on Bitcoin (BTC) and accumulating on Cardano (ADA), citing: “It’s the ultimate place in cryptocurrency.”
In recent months, Cardano creators have put in formidable efforts to drive adoption and make changesincluding the launch of the network’s first lightweight wallet solution, Lace 1.0, in the mainnet. The wallet aims to transform the way users interact with the Cardano blockchain ecosystem by combining multiple features in one place.
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