Cardano has been rising up in the levels of cryptocurrencies during the past year. This new player is now the 7th largest crypto in market value. Users and Investors are rushing to this blockchain. Its native currency — Ada — recently increased to a record of over 3 million, according to insights of Cardano’s Blockchain. And Cardano almost doubled its amount of developers this past year, an Electric Capital report said.
Plainly, this Valentine’s Day, you don’t need to be shot by Cupid’s arrow to fall for this incredible crypto. Here are 2 reasons to love Cardano.
1. An exciting update is on the way
Transaction speed is a huge focus for any blockchain trying to change the way business is done. Right now, Cardano makes around 250 TPS. But the blockchain is working on getting quicker. That is where Hydra comes in. Right now, software engineers are focusing on this solution that includes off-chain ledgers, or Hydra heads. They run parallel to the main network. A Hydra head can take care of transactions within a group of participants that agree to be part of it.
Hydra testing has shown that each head can process 1,000 Transactions per second. Of course, more heads would cause that number to be higher. So, Cardano is on the way to excelling when it comes to speed. But 3 other measures might be even more important than transactions per second, according to Matthias Benkort, a software engineer for Hydra. And those are, the time to finish a transaction, the volume of data processed, and the amount of effort that can be done simultaneously. Hydra is ahead in these areas as well.
When can we expect the update to be released? It might happen as soon as this year.
2. A focus on quality
Cardano has put out a plan of 5 development stages. And Cardano is on the last two. There is progress being made on these stages and both at the same time. The last goal is a completely self-sustaining system. This method is a step- by- step way to make sure of the quality.
But Cardano does not quit there. The blockchain also makes use of a peer review system. Which means any updates for the network has to first go through peer review and then be given approval before being implemented. The bad part is that this could slow down development. But here is the huge positive: These efforts could stop outages and glitches in the future. This means Cardano is working on a system that businesses and people can depend on. That could help Cardano stand out from the thousands of cryptocurrency players.