Cardano, a popular blockchain Layer 1 platform, has introduced its latest upgrade, Hydra. This upgrade was developed to increase the scalability and speed of transactions within the Cardano network. In an announcement on Twitter, the IOHK company behind the Cardano protocol said Hydra had been launched on the mainnet.
According to Coin SPEAKer, each Hydra head works as an off-chain mini-ledger divided by a small group of participants. Hydra provides a solution to boost throughput on blockchain networks and reduce transaction costs. This increase is also expected to fix security concerns on the network as well as increase its scalability.
Not only that, but Hydra also allows developers to create more specific smart contracts on the Cardano blockchain. Currently, the Cardano community expects three main releases from this platform this year, namely stablecoin development, scalability, and oracle development. However, with launches on the mainnet, it seems that Hydra development will be a top priority for the Cardano ecosystem in 2023.
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While there is no need for a hard fork, Sebastian Nagel, one of the developers of Cardano Hydra protocol, confirmed that Hydra head is a basic block that underlies other protocols that will help Cardano achieve scalability. This shows that Cardano will continue to focus on developing their technology to improve network performance and meet users' expectations.
However, keep in mind that Cardano development is still continuing and it is hoped that there will be three other key releases this year that will bring benefits to users. That way, we can hope that Cardano will mature and provide greater benefits for its users in the future.
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