In a recent development that could potentially drive a surge in ADA’s price, Cardano has unveiled a new upgrade for its Hydra scaling solution. Sebastian Nagel, a Cardano developer, shared an update on the X platform (formerly Twitter), revealing the release of Cardano Hydra v0.12.0, the latest version of the protocol’s flagship layer-2 scaling solution.
Features of Cardano Hydra v0.12.0
According to Nagel’s summary, the eagerly awaited upgrade is seamlessly compatible with the Cardano Node v8.1.2 client and the recently launched Mithril protocol, developed by Input Output Global (IOG).
The upgrade was initially deployed on the mainnet on July 30th. Its primary objective is to revolutionize the synchronization processes among nodes on the Cardano blockchain, aiming to make them more developer-friendly.
In addition to these improvements, the Hydra upgrade includes code optimizations aimed at enhancing on-chain performance and security. These speed and safety enhancements are anticipated to propel Hydra toward accomplishing significant milestones in its development.
Further, contributors are likely to share additional insights into the upgrade at the upcoming cryptocurrency convention, Rare Evo 2023, scheduled to occur in Denver, Colorado from August 24th to 26th. Notably, a prior upgrade to version 0.11.0 had made the Layer-2 ledger fully isomorphic to Cardano’s Layer-1 by introducing timed transaction support.
Potential Impact on ADA Price
Nevertheless, the latest upgrade, v0.12.0, has the potential to positively influence the price of ADA, similar to the effects of previous upgrades. Upon the launch of Aiken, a programming language and toolkit designed to simplify smart contract development on the Cardano blockchain, ADA’s price surged by 6%.
However, within the past 24 hours following the upgrade’s release, ADA’s price has already increased by 1.51%, with the coin currently trading at $0.2681. Also, this price movement indicates that Cardano enthusiasts might leverage the enhanced usability provided by the upgrade to increase their ADA holdings.
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