Hydra goes live on Cardano mainnet, while ADA struggling
Cardano’s most popular & most awaited layer-2 scaling protocol went live on the Cardano mainnet.
Cardano is a popular Proof-of-stake (PoS) scalable blockchain network. In late 2021, the Cardano team proposed Layer-2 protocol Hydra for the Cardano Blockchain to enhance the ability of the Cardano blockchain network to the next level, to compete easily against Solana-like Proof-of-stake (PoS) crypto networks.
Today, Cardano announced the first mainnet node launch of the Hydra protocol on the Cardano mainnet successfully.
With this first Hydra mainnet launch, Cardano developer Sebastian Nagel described this as a very big milestone for the Cardano Blockchain network.
— Sebastian Nagel (@ch1bo_) May 11, 2023
0.10.0 is out!
After demonstrating Hydra heads on the Cardano mainnet in recent monthly review sessions, we have released the first mainnet compatible version of hydra-node today.
Check out the full release notes over here:https://t.co/Kl3KTyVnSX
Cardano Hydra is in the initial phase of development & also people don’t need to consider this protocol as an application to process only crypto transactions on the Cardano network, instead, it will allow all the decentralised apps (DApps) on the Cardano network to integrate Hydra. In short, highly efficient crypto trade activities will be available across the Defi protocols in the Cardano environment.
It is worth it to note that here Cardano played a game, on behalf of supply & demand. In the last two weeks the two top crypto networks Ethereum & Bitcoin faced high network traffic which resulted in a significant increment in the network fees.
Due to high fees on the top crypto networks, a very big traffic shifted toward the Cardano network.
Recently Cardano network processed crypto transactions with its 95% capacity.
Cardano has unreasonably high transaction times when running at 100% capacity, making it completely dysfunctional. Moreover, even if it would run at 100% 24/7 it would be still unsustainable. It runs currently at 25-50% capacity btw…during times of low demand.
—ADA Flash
So in these situations, the Cardano devs realised that they needed to introduce Cardano layer-2 scaling network Hydra, to keep any big challenge away. It is expected that Hydra will have the capacity to handle up to 1 million transactions per second.
However it was very big & news for Cardano but crypto traders ignored this news badly. Cardano’s native token ADA saw only a very small pump by 3%.
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