The post Cardano Advances with Hydra Upgrade as Chang Hard Fork Nears appeared on BitcoinEthereumNews.com.

Cardano has recently implemented a significant upgrade to its Hydra Head scaling solution, marking a key step towards enhancing network transactions. This development comes as the network approaches the highly anticipated Chang hard fork. Hydra Upgrade Brings Key Changes Ahead of Chang Hard Fork On August 9, Cardano introduced version 0.18.0 of its Hydra Head scaling solution. This update aims to improve transaction efficiency and address withdrawal delays. Sebastian Nagel, a Cardano developer, highlighted a key feature that will allow users to withdraw funds from an open head without needing to close it. The update also includes documentation enhancements and fixes for internal wallet fee calculations. “Major feature: withdrawing funds from an open head without needing to close Also fixes to ready up for Conway – make sure to update,” Nagel stated. Read more: How To Buy Cardano (ADA) and Everything You Need To Know Hydra is a layer2 scaling solution designed to improve scalability on the Cardano blockchain. Despite past concerns about the project’s progress, this upgrade showcases Cardano’s ongoing commitment to Hydra. It also aligns with founder Charles Hoskinson’s consistent assurances regarding the project’s development. This Hydra upgrade aligns with the forthcoming Chang hard fork, which aims to transition Cardano into a fully decentralized blockchain. According to Hoskinson, this upgrade represents a historic milestone for both Cardano and the broader blockchain industry. He envisions Cardano transitioning into a global decentralized network with advanced governance, annual budgets, and a community-driven approach. The upgrade will be completed once 70% of Stake Pool Operators (SPOs) have adopted Node Version 9.1. As of August 8, TapTools reported that 69% of SPOs have transitioned to the Node. However, Cardanoscan data pegs the percentage of SPOs ready for the upgrade at approximately 65%, with Bitfinex being the first major crypto exchange to support the update. Read…

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Filed under: News - @ August 10, 2024 11:16 pm