Cardano has released a new upgrade for its Hydra scaling solution. This upgrade brings some optimizations for Cardano Blockchain. After the upgrade, the ADA price started to rise. So, is it possible that this development will fuel a price pump for the altcoin?
Cardano Hydra v0.12.0 upgrade is now live
Cardano (ADA) developer Sebastian Nagel shared an update on his X account. According to this update, a final upgrade has come into effect for Cardano Hydra, the protocol’s flagship layer-2 scaling solution. Nagel shared details of the release notes as well as a summary on account X. According to Nagel’s summary, the highly anticipated upgrade is compatible with the Cardano Node v8.1.2 client as well as the newly launched Mithril protocol developed by Input Output Global (IOG).
Cardano Hydra v0.12.0 first went live on the main-net on July 30. The developers designed this update to revolutionize the processes involved in synchronizing nodes in the altcoin project. It also created them to make them more developer friendly. This new version also brings additional functionality related to Application Programming Interfaces (APIs) to Cardano Hydra. The Tier-2 scaling solution will start running the new API endpoints. This will make it more accessible to Web3.0 developers and researchers.
What does the Hydra upgrade bring for the altcoin?
In addition to these features, the Hydra upgrade will improve Hydra’s on-chain performance and security. Because it came with some code optimizations to enable it. Developers expect Hydra to reach many new milestones with these faster and safer features.
More details on its launch are expected to be shared by contributors at the cryptocurrency convention Rare Evo 2023, which will be held August 24-26 in Denver, Colorado. cryptocoin.com As you follow, the developers originally upgraded Hydra to version 0.11.0. This update added scheduled transaction support. Thus, he made the Layer-2 ledger fully isomorphic to Cardano Layer-1.
Impact of the upgrade on altcoin price
Meanwhile, according to experts, it’s possible that the latest v0.12.0 upgrade will have a positive impact on ADA’s price like any other upgrade. Cardano has in the past released Aiken, its programming language and toolset to simplify the development of smart contracts on the Cardano Blockchain. Immediately after this update, the altcoin price increased by 6%.
In the last 24 hours of the upgrade release, the price of ADA has increased by over 2%. The altcoin is trading at $0.2681 at press time. Experts see Cardano bulls likely to flock to cryptocurrencies taking advantage of this enhanced usability. This too is likely to aid in a much-needed recovery after last week’s market crash.
