The Hydra Upgrade for Cardano aims to boost blockchain scalability while also enabling enterprise use cases like DeFi
After the Cardano’s mainnet was upgraded last week, Input Output Hong Kong (IOHK) said that it is working on a layer-2 upgrade for Cardano’s blockchain.
Cardano founder Charles Hoskinson informs his 690,000 Twitter followers that a new project called Hydra upgrade is in the works on the latest Alonzo hard fork to increase scalability and storage.
While IOHK plans to improve Cardano fees in order to balance user prices, stake pool operator profits, and network security, David Orr of IOHK notes that they are unlikely to be low enough for “real world use cases,” which is what Hydra upgrade hopes to address.
Hydra, according to Orr, can lower the entry barrier for clients that wish to build items on the Cardano network, such as wallets or applications.
According to IOHK, Hydra upgrade could make Cardano transactions take less than a second to complete.
Online Tech Magazine/Website where you will get all the latest news/articles/stories/reviews/unique perspective on modern technologies like Cryptocurrencies, Blockchain Technologies, NFTs, Artificial Intelligence, Deep Learning, Machine Learning, Quantum Computing and much more