Cardano is preparing to scale with Hydra upgrade as the network hits 2 million wallets

In a tweet sent by the Cardano Foundation on Monday, the number of Cardano (ADA) wallets exceeded the 2 million mark. network obtain The previous milestone was 1 million ADA wallets on May 22, 2021.

During this time, the Cardano Foundation successfully implemented the Alonzo Hard Fork, which enabled smart contracts in their network. Meanwhile, Charles Hoskinson, the founder of Cardano, has turned his attention to the increasing adoption of blockchain technology in Africa. Via a tweet sent Last week, Hoskinson announced that 5 million students in Ethiopia are scheduled to receive digital IDs linked to their academic records based on the Cardano blockchain.

But Cardano’s technological development is also catching up with Alonzo. When asked about progress on Cardano’s Layer 2 scaling solution, Hydra, during an ask-me-anything session on Saturday, Hoskinson said:

“We will continue to add resources to Hydra and try to identify multiple teams so we can parallelize the workflow as this is a high commercial priority. And it is very important that we can offload a large amount of transactional traffic that comes from all of the apps that come out. “

Layer 2 solutions work with an established protocol to improve network performance. Meanwhile, in the Cardano context, sharding involves moving off-chain transactions in staking pools or hydra nodes without partitioning the ledger. In theory, each Hydra Node can process 1,000 transactions per second and there are 1,000 such nodes. In this case, the entire Cardano network could process up to 1 million transactions per second – assuming linear scaling. The project is still in the research and development process, and there is no exact start date yet.