Tim Harrison, Director of Communications for IOHK, recently informed the Cardano community of an upcoming mid-month update. The update is about scaling plans for 2022 and building new projects on the Cardano blockchain. The tweet included an image showing the number of projects currently being built on the Cardano network, 199.
U.Today reported back in late December that Charles Hoskinson mentioned that there were more than 175 projects built on Cardano at that time and about 11 projects would be launched by the end of the first quarter of 2022.
Now that number has grown to 199, and more than 17 projects could launch by the end of April 2022 at the latest.
Hydra: Cardano’s Layer 2 scaling solution
The Alonzo hard fork, which enables the implementation of smart contracts, decentralized applications (DApps), and other apps on the Cardano blockchain, went live in September 2021.
Hydra, a major Layer 2 solution that further increases Cardano’s scalability by stacking a new protocol on top of the existing Layer 1 blockchain, is one of the improvements brought by the Alonzo hard fork.
With this, Cardano aims to address the scaling difficulties encountered in achieving the throughput required to support real-world applications, especially when considering network charges, fighting against flooding attacks (DDoS), and dealing with storage.
According to IOHK, Hydra is a Layer 2 scaling solution that aims to address these issues by maximizing throughput, minimizing latency, incurring minimal to no cost, and drastically lowering storage requirements.
In late December, a Cardano developer hinted at steady progress on the Hydra solution, stating that the next steps will focus on on-chain validations and closing the gap to test network launch.
Source: U.Today
