Cardano Development Team Launches Hydra Heads on Public Cardano Testnet.
The Cardano team has announced significant progress in developing the much-anticipated Hydra upgrade.
In a screenshot shared today by Charles Hoskinson, the CEO and founder of Cardano, the team noted that it has successfully opened the first Hydra heads on the public Cardano testnet.
“Today, almost one year after we read the Hydra whitepaper [for the] first time back-to-back, we opened the first Hydra Heads on the Public Cardano testnet. This should be the first, which saw the full init, commit, close, & fanout lifecycle,” Sebastian Nagel, a member of Cardano’s IOHK, said.
I'm extremely proud of the Hydra team for making this milestone. It's one of the fastest and best pieces of applied research in the Cardano Ecosystem. pic.twitter.com/nVWuAPHwJ5
— Charles Hoskinson (@IOHK_Charles) March 16, 2022
Reacting to the development, the Cardano founder, who recently got into a heated debate with cryptocurrency journalist Laura Shin over his educational background, celebrated the milestone on his personal Twitter page, saying:
“I’m extremely proud of the Hydra team for making this milestone. It’s one of the fastest and best pieces of applied research in the Cardano Ecosystem.”
Hydra Upgrade Edges Closer to Launch
The Hydra upgrade, a layer-2 scaling solution, has been anticipated by the Cardano community as it is tipped to enhance various aspects of the network.
Interestingly, the upgrade will usher in parallel processing of transactions and smart contracts, similar to Ethereum’s sharding or parallel blockchains.
The team at Cardano has made significant progress toward the development of Hydra, with the upgrade expected to be released later this year.
In January 2022, the team released an end-to-end integration node for Hydra’s second pre-lease. Since its development, the Cardano team has added over 3,057 new commits to GitHub, a significant step toward progressing the Hydra launch.
ADA to Record Gains After Hydra Launch
It is worth noting that upon the official launch of Hydra, Cardano (ADA) prices are tipped to surge, thus giving investors a reason to smile again.
ADA has been underperforming recently, falling from around $1.3; it opened the year with and currently trading around $0.80.
Despite the underperformance of ADA so far this year, the cryptocurrency is tipped to surge tremendously before year-end.
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Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.