Cardano, an open source cryptocurrency and blockchain platform, has recently completed the launch of its long-awaited Hydra scaling protocol on its mainnet, an important milestone that could boost adoption of the digital currency.
The Hydra protocol focuses on scalability, allowing Cardano to process more than 1 million transactions per second, an impressive feat compared to Bitcoin’s current processing capacity, which can only process around 7 transactions per second.
The Hydra upgrade will also improve the network’s ability to handle smart contracts and decentralized applications, making it more attractive to blockchain application developers and companies looking to use the technology. Hydra’s implementation has been divided into several phases, the first of which was launched in December 2020.
Since then, the network has been experimenting with the protocol and tweaking its performance before launching it in full. Now, with the live launch on Cardano’s core network, users can experience the protocol’s improved speed and efficiency.
Hydra is a family of layer 2 protocols designed to make #Cardano more scalable and adaptable for various use cases that require fast and cheap transactions. The first Hydra head recently opened on mainnet.
This video is a great starting point for exploring the current release,… pic.twitter.com/g1moYifGNj
— Input Output (@InputOutputHK) May 4, 2023
A breakthrough for Cardano
Hydra is a major step forward for Cardano as it looks to compete with other market-leading cryptocurrencies, such as Ethereum and Bitcoin, by offering a faster and more scalable network. The ability to process a large number of transactions also makes it more attractive to investors and traders looking for a digital currency that can handle large transaction volumes without slowing down.
With the successful implementation of this upgrade, Cardano is in a strong position to experience increased adoption and usage, which could boost its value in the cryptocurrency market.
In summary, the implementation of Hydra on the Cardano mainnet is great news for investors, developers and cryptocurrency enthusiasts. With this, Cardano has taken a big step towards achieving its goal of becoming one of the world’s leading cryptocurrencies.
