6 C
Amsterdam
23 January 2022
PumpMoonshot
Image default
Altcoins

Cardano to Unveil Scaling Plans for 2022 as Number of Blockchain Projects Grows to Near 200

Cardano set to reveal scaling plans for 2022 as number of blockchain projects nears 200.

Tim Harrison, IOHK Communications Director, recently notified the Cardano community of an incoming mid-month update. The update concerns scaling plans for 2022 and building new projects on the Cardano blockchain. The tweet contained an image showing the number of projects currently building on the Cardano network at 199.

Advertisement

Cardano co-founder and IOHK CEO Charles Hoskinson shared the tweet and then asked: ”Who wants to be project 200?”

U.Today earlier reported in late December that Charles Hoskinson mentioned that over 175 projects were building on Cardano at the time, and about 11 projects would be launched by the end of Q1, 2022.

Now, this number has grown to 199, and over 17 projects might launch by the end of April 2022 at the latest.

Advertisement

Hydra: Cardano’s Layer 2 scaling solution

The Alonzo hard fork, which enables the implementation of smart contracts, decentralized applications (DApps) and other apps on the Cardano blockchain, went operational in September 2021.

Hydra, a major Layer 2 solution to further increase Cardano’s scalability by stacking a new protocol on top of the existing Layer 1 blockchain, is one of the improvements brought on by the Alonzo hard fork.

This comes as Cardano seeks to tackle scaling difficulties faced in attaining the throughput required to support real-world applications, particularly when considering network fees, fighting against flooding attacks (DDoS) and dealing with storage.

Advertisement

According to IOHK, Hydra is a Layer 2 scaling solution that aims to address these issues by maximizing throughput, minimizing latency, incurring minimal to no expenses and drastically lowering storage requirements.

In late December, a Cardano developer hinted at steady progress on the Hydra solution, stating that the next steps will focus on on-chain validations and closing the gap toward the testnet launch.

News Source

Advertisement

Related posts

Shiba-Inu Price in Consolidation Phase! Is This the Calm Before the Storm?

PumpMoonshot

Cryptocurrencies Price Prediction: Bitcoin, Ethereum Classic and Ripple – European Wrap 29 July

PumpMoonshot

Silver Miller Files Lawsuit Against Creator of Alleged Crypto Ponzi Scheme

PumpMoonshot

Leave a Comment