One of the most frequently asked questions by Cardano’s enthusiasts is when the network’s layer-2 scaling solution, Hydra, will launch.
While many cannot give the date, it cannot be as far as some want us to believe.
What is Cardano’s Hydra?
The highly anticipated Hydra project is unique because it seeks to scale the wider Cardano blockchain.
It will achieve this by reducing the network’s latency and increasing its throughput, or transactions per second (TPS). When completed, IOHK hopes that it can reach confirmation in under one second.
Interest in Hydra has become more heightened by Cardano’s Alonzo hard fork. The upgrade made the need to scale up a more vital move for the blockchain network as it would enable it to implement smart contracts efficiently.
When Launch?
However, though the project’s announcement did not include an arrival date, a review of the statement hinted that it could happen before long.
According to the announcement, Software Engineering Lead, Sebastian Nagel, said “in the medium term, say 6-12 months, progress will greatly depend on the results of our research and experimentation, plus feedback from the developer community.”
Judging by this, Hydra’s launch could be between the last quarter of the year or the first quarter of 2023.
More Details at Cardano Summit
More details about the ongoing project are expected to be released during the Cardano Summit that is scheduled to hold in September.
During the summit, the company intends to make public details like its current progress, and goals for the future.
Cardano Price
Cardano’s price is one of the top performing digital assets in the last seven days, per CoinGecko data.
The asset has seen its value rise by over 13% in the previous seven days and by over 5% in the last 24 hours.
However, despite its positive performance, the coin is still trading for less than $1.