cardano (CRYPTO:ADA) has climbed the ranks of cryptocurrencies in the past year. This young player is now the seventh largest cryptocurrency by market value. Investors and users flock to this blockchain. Portfolios for Cardano’s native currency – Ada – recently hit an all-time high of over three million, according to Cardano Blockchain Insights. And Cardano nearly doubled its developer base last year, according to a research report from Electric Capital.

1. An exciting update is coming

Transaction speed is an important goal for any blockchain looking to reshape the way business is done. At the moment Cardano is trading around 250 transactions per second (TPS)† But blockchain wants to go faster. This is where Hydra comes in. Currently, software engineers are working on this scaling solution involving Hydra heads or off-chain registers. These are parallel to the main network. A Hydra manager can manage transactions between a group of participants who agree to be part of it.

Hydra testing has shown that each bud can handle 1000 TPS. Of course, multiple heads increase this number. Cardano is therefore well on its way to excel in speed† But according to Hydra software engineer Matthias Benkort, three other metrics may be even more important than TPS. And these are the amount of data processed, the time it takes to complete a transaction, and the amount of work that can be done at the same time. Hydra wins in these areas as well.

When can we expect a launch? It could happen this year.

2. Focus on quality

Cardano has drawn up a roadmap of development stages. There are five. And Cardano has reached the bottom two. Progress is being made simultaneously on these two phases. The end goal is a fully decentralized autonomous system† This step-by-step method is a good way to ensure quality.

But Cardano doesn’t stop there. The blockchain also uses a peer review system. This means that any network update must go through peer review and approval before it is implemented. The downside is that it can slow down development a bit. But here’s the big silver lining: These efforts can now prevent future breakdowns and breakdowns down the road. This means that Cardano develops a system that people and companies can rely on. This could help Cardano stand out among thousands of cryptocurrency players.

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3. Multidredging Potential

Today Cardano is trading at around $1.15. And there are about 33.5 billion Ada coins in circulation. If Cardano were multiplied by five, its market value would be $192 billion. This would make Cardano the third largest cryptocurrencies-money after Bitcoin and Ethereum † So, from the point of view of coin supply and price, the multibagger scenario is possible.

the multidredging scenario You may be interested in: Bitcoin (BTC) Price: An Analyst Predicts a Rise in the BTC Market! Reviews & Analysis 2022 is also possible from the point of view of growth potential. Cardano is at the beginning of its history. For example, the capabilities for smart contracts were launched last fall. And, as I said, development and scaling is underway. So there are many elements that can generate profit