How Cardano Achieved 80 TPS with Low Fees and No Hydra

Cardano recently showcased its impressive scalability and cost-effectiveness by processing eight transactions for 1,600 recipients in a single block. The total fees for these transactions amounted to just $2.38. Charles Hoskinson, the founder of Cardano, highlighted this achievement on social media, emphasizing the platform’s potential as a leading blockchain solution.

Performance Metrics

In this remarkable performance, Cardano reached an impressive 80 transactions per second (TPS) without utilizing Hydra, its scaling solution. This accomplishment has sparked optimism among crypto investors regarding Cardano’s future capabilities. Many believe that with further scaling, the platform could achieve even higher TPS rates.

Exciting Upgrades on the Horizon: Hydra and Leios

Looking ahead, Cardano plans to implement significant upgrades that will enhance its scalability and transaction efficiency. One of these upgrades is Hydra, which aims to facilitate off-chain transactions. This innovative approach could enable Cardano to handle millions of TPS in the future.

Additionally, Leios is set to be released in Q4 2024 and will focus on speeding up transaction processes. Hoskinson has stated that Leios could make Cardano faster than Solana while maintaining its decentralization. By optimizing transaction validation and increasing throughput, Cardano aims to compete effectively with other blockchain platforms.

Market Position and Token Performance

As a result of these advancements and the growing positive sentiment within the crypto community, ADA, Cardano’s native token, has reclaimed its position as the 10th largest cryptocurrency by market capitalization. Currently, ADA trades at approximately $0.3846, with a market cap around $13.43 billion. This resurgence comes after a competitive period with Tron (TRX), which closely trails with a market cap of about $13.09 billion.

In conclusion, Cardano’s recent transaction achievements and upcoming upgrades like Hydra and Leios position it favorably in the competitive blockchain landscape. As it enhances its scalability and efficiency, Cardano seeks to attract more developers and users. Ultimately, these efforts aim to solidify its status as a top-tier blockchain platform capable of competing with giants like Solana.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.