Cardano Hits a New Scaling Milestone, but the ADA Price Remains Stable
The first Hydra Heads have launched on the public Cardano testnet, almost a year after the initial paper was published, according to ADA founder Charles Hoskinson.
ADA’s scaling journey begins with Hydra Heads, the first of a series of protocols. Hydra is the name given to a group of Layer 2 technologies targeted at increasing network security and scalability. Despite the fact that it was conceived as part of the Ouroboros research team’s efforts, it has taken its own route after the original study was published.
Hydra strives to increase throughput, decrease latency, and deliver cost-effective solutions without the need for a lot of storage. Hydra Heads, according to an IOHK blog post, is a critical building piece that takes advantage of the Extended Unspent Transaction Output (EUTXO) model’s features to enable more complex solutions on top.
As a result, they provide a solid basis upon which ADA’s scaling layer may be built. They are not the final destination, despite being a vital element of the scaling adventure. When a small group of people needs to comprehend a lot of information quickly, Hydra Heads shine.
After June, when the Vasil hard fork occurs, the Cardano founder underlined that a significant wave of projects will arrive. IOHK said it plans to put out a series of scaling upgrades in 2022, with a concentration on hard fork combinator (HFC) events in June and October, with more than 500 projects presently building on Cardano.
Cardano price unmoved
Although the foundation for future Cardano ecosystem upgrades has been laid, the ADA price has yet to catch up. Cardano (ADA) has plummeted to trade below the daily MA 50, just a few days after achieving its all-time high. ADA is currently stabilizing at $0.81, having fallen over 75% from its all-time high of $3.10. If the bulls are willing to maintain a foothold near the $0.74-$0.81 range, ADA may attempt a near-term recovery.
To stimulate further recovery and squash short-term price dips, a closing above the daily MA 50 at $0.96 may be required. If the bulls lose pace, a close below $0.74 could signal a continuation of the downtrend.
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Cardano Hits a New Scaling Milestone, but the ADA Price Remains Stable
The first Hydra Heads have launched on the public Cardano testnet, almost a year after the initial paper was published, according to ADA founder Charles Hoskinson.
ADA’s scaling journey begins with Hydra Heads, the first of a series of protocols. Hydra is the name given to a group of Layer 2 technologies targeted at increasing network security and scalability. Despite the fact that it was conceived as part of the Ouroboros research team’s efforts, it has taken its own route after the original study was published.
Hydra strives to increase throughput, decrease latency, and deliver cost-effective solutions without the need for a lot of storage. Hydra Heads, according to an IOHK blog post, is a critical building piece that takes advantage of the Extended Unspent Transaction Output (EUTXO) model’s features to enable more complex solutions on top.
As a result, they provide a solid basis upon which ADA’s scaling layer may be built. They are not the final destination, despite being a vital element of the scaling adventure. When a small group of people needs to comprehend a lot of information quickly, Hydra Heads shine.
After June, when the Vasil hard fork occurs, the Cardano founder underlined that a significant wave of projects will arrive. IOHK said it plans to put out a series of scaling upgrades in 2022, with a concentration on hard fork combinator (HFC) events in June and October, with more than 500 projects presently building on Cardano.
Cardano price unmoved
Although the foundation for future Cardano ecosystem upgrades has been laid, the ADA price has yet to catch up. Cardano (ADA) has plummeted to trade below the daily MA 50, just a few days after achieving its all-time high. ADA is currently stabilizing at $0.81, having fallen over 75% from its all-time high of $3.10. If the bulls are willing to maintain a foothold near the $0.74-$0.81 range, ADA may attempt a near-term recovery.
To stimulate further recovery and squash short-term price dips, a closing above the daily MA 50 at $0.96 may be required. If the bulls lose pace, a close below $0.74 could signal a continuation of the downtrend.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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