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Cardano Reports Massive Performance Improvements for ADA Open-Source Wallet

Fri, 02/04/2022 - 11:32
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Tomiwabold Olajide
Cardano's parent company has announced the release of a new version of Daedalus
Cardano Reports Massive Performance Improvements for ADA Open-Source Wallet
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Cardano Founder Charles Hoskinson highlights massive performance improvements for Cardano's open-source wallet Daedalus. IOHK, Cardano's parent company, has announced the release of a new version of Daedalus, 4.8.0 Cardano mainnet.

This Daedalus release seeks to integrate the latest version of Cardano wallet, which supports Cardano node v1.33.0 and brings about significant performance improvements. The latest upgrade will also allow computers with less than 16GB of RAM the option to enable the Cardano node runtime system (RTS) with a new splash screen displayed to help reduce memory usage.

This news comes as the total number of Cardano wallets surpasses the $3 million mark. The number of wallets holding the network's native coin, ADA, has increased significantly over the last year, indicating that the Cardano blockchain has witnessed tremendous growth.

The total number of Cardano wallets was 2.5 million on Dec. 24. More than 500,000 ADA wallets have been added since then.

Cardano implements key step in scaling vision as Basho phase unfolds

At the start of 2022, Cardano revealed 11 ways it intends to scale, one of which is the Hydra Solution. Hydra is a collection of Layer 2 solutions aimed at improving network security and scalability.

Cardano is at the foothills of the Basho, a phase that is all about scaling and network optimization, with smart contracts already in place. Along these lines, The Hydra Head, the first in a suite of protocols, is an important element of Cardano's scaling journey.

The Hydra Head protocol was already shaping up in 2020, according to IOHK, and has since grown into a proof of concept. It mentions that progress is still being made, with a more specified implementation for the testnet MVP being the next major step.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.