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Cardano Ecosystem

Zycrypto

05/05/2023

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Cardano Primed for Meteoric Surge as First Hydra Head Opens on Mainnet

Advertisement  <div style="margin-top:0px;margin-bottom:0px" class="sharethis-inline-share-buttons"></div> <p>Cardano’s highly-anticipated Hydra upgrade has finally arrived, with the first...

Cardano Primed for Meteoric Surge as First Hydra Head Opens on Mainnet

Historically Accurate Cardano On-Chain Metrics Suggest ADA Price Could Triple In Near Term

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<div style="margin-top:0px;margin-bottom:0px" class="sharethis-inline-share-buttons"></div> <p>Cardano’s highly-anticipated Hydra upgrade has finally arrived, with the first Hydra Head now open on the Cardano mainnet.&nbsp;</p> <p>According to a Thursday announcement by Input Output Global (IOHK), the team behind Cardano, hydra head version 0.10.0, was released in late March on the mainnet, setting pace for other releases in its category aimed at boosting Cardano’s performance.</p> <p>Hydra is a layer 2 scalability solution for <a target="_blank" href="https://zycrypto.com/cardanos-transaction-volume-sees-huge-upsurge-amid-price-fluctuations-ada-network-in-bullish-outlook/">Cardano</a> that aims to increase transaction speed through low latency, high throughput, and minimized transaction cost. The Hydra family of protocols was designed to make Cardano more scalable and adaptable for various use cases that require fast and cheap transactions.</p> <p><em>“Our goal is to make Cardano possible to grow and increase its adoption by making it more scalable. We do that by building several protocols to make these situations possible,” </em>Sebastian Nagel, lead software engineer of Hydra, noted.</p> <p>Nagel further emphasized that the Hydra family of protocols is meant to help Cardano become more scalable and flexible in several use cases. Hydra Head protocol is the first of many building blocks on Hydra aimed at enabling applications to offload some transactions from the global Cardano network into more local contexts, where the transactions are only run by involved parties, increasing transaction speeds.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_2 td_block_template_5"> <style> /* custom css */ .tdi_2.td-a-rec{ text-align: center; }.tdi_2 .td-element-style{ z-index: -1; }.tdi_2.td-a-rec-img{ text-align: left; }.tdi_2.td-a-rec-img img{ margin: 0 auto 0 0; }@media (max-width: 767px) { .tdi_2.td-a-rec-img { text-align: center; } } </style><span class="td-adspot-title">Advertisement</span> <script async src="https://coinzillatag.com/lib/display.js">

 

Nagel further clarified that Hydra is not a network upgrade, meaning no hard fork will be involved.

Hydra is not a network upgrade, so there is no hard fork. There’s nothing really the whole network is waiting on-it’s just flipping a switch, and everything is fast,” he added.

However, Nagel emphasized that it is not yet a finished product, and there will be more releases to incorporate more use cases.

You now have this version 0.10.0 available. It’s not done yet, but it is a very good starting point. There will be more releases to incorporate more user needs. Our focus lately has been making it possible to run on the mainnet. Our next focus is really to bring in more use cases,” he went on.

The release came days after Cardano developers’ showcased the progress of the Hydra Head running smoothly on the mainnet. That said, the release of version 0.10.0 is a significant milestone for the blockchain and its ecosystem. It represents a major step forward in developing Cardano’s scalability and ability to handle complex smart contracts. Furthermore, as the Hydra family of protocols expands, Cardano is well-positioned to take advantage of its scalable solutions and attract new users and projects to its network.

Meanwhile, the news has strengthened ADA, trading at $0.38 at press time, up just over 2% in the past 24 hours as per CoinMarketCap data.

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