Cardano to scale with Hydra upgrade as ADA wallets reach 2 million

Despite failing to reach its ATH of beyond 43, Cardano is still witnessing growing adoption, proven by the growing number of wallets on the network. The number of Cardano (ADA/USD) wallets recently reached a 2 million high.

The increasing number of Cardano wallets comes a few months after the network implemented the Alonzo Hard Fork upgrade to bring smart contracts into the network. It was during this hard fork upgrade that ADA reached its all-time highs.

Cardano’s Hydra Upgrade

The technological development of the Cardano network is also picking up, as the network looks beyond the Alonzo upgrade. Cardano’s founder, Charles Hoskinson, held a Q&A session last weekend, where he spoke of Cardano’s progress in achieving a layer two solution. Hoskinson added,

We are going to keep adding resources to Hydra, and we’ve been trying to identify some teams so we can parallelize the workstream because it’s such a high commercial priority. And it’s going to be very important that we’ll be able to offload a large number of transaction traffic that’s going to come from all of the apps that are coming.

One of the layer two solutions that many networks are exploring is sharding. However, in the Cardano network, sharding will come in the form of transferring transactions off-chain to staking pools, also known as Hydra Nodes. However, this sharding will work without the ledger portioning happening.

Hydra nodes are expected to boost the transactions speeds on the Cardano network. However, the network is yet to finalize how and when the Hydra Nodes will be implemented. This upgrade is still in the research and development phase.

Cardano Network focusing on Africa

Charles Hoskinson recently stated that the Cardano network was working on tapping into the African market. Hoskinson now seems to be focusing on the continent through the IOHK Foundation to look for a way to increase the adoption of blockchain technology in Africa.

Dropped by the MOE today to discuss the digital transformation of Ethiopia's educational credentials. Five million students on schedule pic.twitter.com/FGhguPDW2q

— Charles Hoskinson (@IOHK_Charles) October 28, 2021

In a tweet posted last week, the Cardano founder stated that 5 million students in Ethiopia were scheduled to receive their digital IDs. These IDS were linked to their academic records, and they are based on the Cardano blockchain.

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