Cardano, the best blockchain out of this recession?

When the dust has settled, we expect to see dead bodies. All these blockchain and cryptocurrency projects that will not have survived the great winter night that is going through the blockchain ecosystem. Indeed, the blockchain landscape will be recomposed. Should we expect to see Cardano integrate the top finishers of the fastest blockchains? For ADA Whale, one of the members of the crypto community on Twitter, this is exactly what will happen.

The optimism of ADA Cardano

We already know Cardano is currently working on 20 projects and that this network gives good reason not to despair about it. On Thursday, the popular account with the handle “ADA Whale” (“@cardano_whale” on Twitter) made some predictions about the future of the Cardano Blockchain. His tweet said: After the cryptocurrency recession, Cardano will be one of the fastest chains in the growth space (L1 + L2), will have its own ecosystem of stablecoins, DApp / DEX built by professional teams with capabilities not found elsewhere, will continue to grow in importance in NFT and will see real world strategy start to pay off […] “.

Let’s take a look at some of these claims to judge the chances of these predictions coming true.

Cardano network speed

Charles Hoskinson, who is the co-founder and CEO of IO Global, explained his optimism regarding the Vasil hard fork with these words: As many of you know, a great matchmaker event hard forkwill take place in June, is the hard fork Vasil, and will contain the pipeline which will be a huge performance improvement for Cardano, along with the first wave of significant improvements for Plutus since Plutus was released in September.

Scalability solutions

In addition to hard fork IOG is working on another project called Hydra.

It has been more than two years since IOG’s chief scientist, Professor Aggelos Kiayias, described Hydra in these terms: Scalability is the biggest challenge for blockchain adoption. Applying a principles-based and evidence-based approach, we came up with a solution for Cardano and similar networks: Hydra. Hydra is the culmination of extensive research and a decisive step in enabling decentralized networks to securely adapt to global needs.

Hydra aims to increase Cardano’s throughput to one million transactions per second. As for Layer 2 (L2) scaling solutions, IOG is currently working on Hydra, which is expected to make the network much faster than Solana, which is now considered the fastest. While Solana is capable of generating 65,000 transactions per second, Hydra aims to increase Cardano’s throughput to one million transactions per second by the end of December 2022.

The stable coins on the Hydra

Cardano currently hosts several projects of stable coins the best known is Djed, astable currency algorithmic. The COTI Group will release it. There are several Cardano-powered stablecoin projects. The best known is thestable currencyalgorithmic Djed, which will be released by the fintech startup COTI Group.

The stability of Djed is ensured by the use of smart contracts. It’s astable currencywhich can integrate DeFi projects. Its white paper states that its protocol “behaves like a standalone bank that buys and sells stablecoins at a price within a range set at a target price. “

On most of the points addressed by ADA Cardano’s tweet, there are projects already started, which are moving forward. If, in theory, the future looks bright for Cardano, experience forces us to hope that everything will go well, even though we know how to keep our minds.

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Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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