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Cardano's Layer 2 scalability solution, Hydra, continues to receive further developments on its way to mainnet release.
IOG's most recent weekly report states that the Hydra team ran a demo of Hydra heads on the mainnet. The roadmap was also amended.
🪜BASHO: The Hydra team ran a demo of Hydra heads on mainnet, cleaned up the roadmap, & held the monthly review meeting. The Mithril team prepared the pre-release of the new distribution, worked on relational design migration, enhanced error messages & patched a security issue. pic.twitter.com/5yi97XoP30
— Input Output (@InputOutputHK) March 31, 2023
Hydra Head, the first member of the Hydra family of protocols, lays the groundwork for advanced deployment situations.
Hydra aims to increase transaction speed by providing low latency, high throughput and minimal transaction costs.
Cardano's founder commends growth of ecosystem
Cardano founder Charles Hoskinson has commended the growth of the ecosystem. "The ecosystem continues to grow. Good work everyone," he wrote in a tweet.
The ecosystem continues to grow. Good work everyone pic.twitter.com/iHR22NWO9S
— Charles Hoskinson (@IOHK_Charles) March 31, 2023
The statistics in an image shared by the Cardano creator indicate that 1,221 projects are currently building on Cardano, while 119 have already launched.
A total of 63.9 million transactions have been processed on the network. Cardano native tokens stand at 8.06 million, spread across 71,128 minting policies. There are now 7,546 Plutus scripts, of which 2,312 are Plutus v2 scripts.
In related news, cryptocurrency and NFT tax provider CoinLedger has announced support for Cardano and launched an automatic tax reporting service for its users.
As reported, Cardano users will soon be able to use any Cardano (ADA) wallet to access smart contracts on the Ethereum Virtual Machine, expanding Cardano's utility. This is due to an upcoming feature on Milkomeda, a network that links EVM contracts to blockchains like Cardano and Algorand.
All EVM users, including those who create smart contracts, will shortly be able to receive staking rewards thanks to Milkomeda.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team