{"id":530043,"date":"2023-05-05T10:28:58","date_gmt":"2023-05-05T10:28:58","guid":{"rendered":"https:\/\/wncen.com\/?p=530043"},"modified":"2023-05-05T10:28:58","modified_gmt":"2023-05-05T10:28:58","slug":"cardano-launches-first-hydra-head-for-l2-scaling-but-why-is-ada-dropping","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-launches-first-hydra-head-for-l2-scaling-but-why-is-ada-dropping\/","title":{"rendered":"Cardano Launches First Hydra Head For L2 Scaling, But Why Is ADA Dropping?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">The first Cardano Hydra Head is now live on the mainnet, but this is not preventing bears from pinning down ADA, the native currency of Cardano, going by its performance on the daily chart.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Scaling Cardano Using Hydra Heads<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">According to Cardano documentation, Hydra Head will be the first in a suite of protocols that will help the smart contracting platform further process more transactions.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This is vital considering Cardano\u2019s gradual enhancement of its mainnet to eventually handle enterprise-grade DApps demanding higher throughput.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Observers note that the release of the first layer-2 Hydra Head is a milestone in the current Basho State in Cardano, where scaling and network enhancement is a priority.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hydra is a family of layer 2 protocols designed to make <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Cardano<\/a> more scalable and adaptable for various use cases that require fast and cheap transactions. The first Hydra head recently opened on mainnet.<\/p>\n<p>This video is a great starting point for exploring the current release,\u2026 <a href=\"https:\/\/t.co\/g1moYifGNj\" rel=\"nofollow\">pic.twitter.com\/g1moYifGNj<\/a><\/p>\n<p>&mdash; Input Output (@InputOutputHK) <a href=\"https:\/\/twitter.com\/InputOutputHK\/status\/00162304?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 4, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">The Hydra Head, now live on mainnet, provides what platform developers <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/iohk.io\/en\/blog\/posts\/2022\/02\/03\/implementing-hydra-heads-the-first-step-towards-the-full-hydra-vision\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">describe<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0as a \u201csecure isomorphic state channel\u201d that works off-chain, connecting participants. Notably, transactions sent within a Head are settled instantly.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Hydra uses the same architecture as the Bitcoin Lightning Network (LN) that also uses channels. Like the LN, those keen on using the Hydra Head must first deposit funds. Researchers said these Heads could be connected in the future, effectively forming a network.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While this development is bullish in the long term, ADA prices are falling when writing in early May 2023. This could be because though Cardano promises to surpass Ethereum as the home of DApps, offering better scaling and decentralization, activity is still relatively low.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/ada\/cardano-ada-price-plunges-as-bears-try-to-over\/\" target=\"_blank\" rel=\"noopener \">Cardano (ADA) Price Plunges As Bears Try To Over<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">DeFiLlama data, for example,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/defillama.com\/chain\/Ethereum\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\"> that the total value locked (TVL) in Cardano is $152.74m while Ethereum manages $28.61 billion.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moreover, Unlike Ethereum, which supported smart contracting immediately after launching, Cardano\u2019s smart contracting came years later <a href=\"https:\/\/roadmap.cardano.org\/en\/\" target=\"_blank\" rel=\"noopener nofollow\">during<\/a> the Goguen Stage.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">ADA Prices Under Pressure<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">ADA is down 15% from April 2023 peaks when writing and under pressure on the last trading day. The coin is also trailing Bitcoin and Ethereum in the past 24 hours.\u00a0<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/UjWnNaIW\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/UjWnNaIW\/\" alt=\"Cardano Price On May 5| Source: ADAUSDT On Binance, TradingView\" width=\"1280\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">Cardano Price On May 5| Source: <a href=\"https:\/\/www.tradingview.com\/x\/UjWnNaIW\/\" target=\"_blank\" rel=\"noopener nofollow\">ADAUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">At the same time, CoinMarketCap <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/cardano\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0shows a sharp contraction in trading volumes. To illustrate, ADA\u2019s trading volumes in the previous 24 hours stand at $163,490,485, down 36%.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This general drop in prices and trading volumes is despite Input Output Hong Kong (IOHK) releasing the first Hydra Head on the Cardano mainnet on May 4.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/cardano-tvl-climbs-by-10\/\" target=\"_blank\" rel=\"noopener \">Cardano TVL Climbs By 10% In A Day \u2013 Is ADA Set To Soar Once Again?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Like Ethereum, Cardano supports smart contracting and a wide range of decentralized applications (DApps). However, the lead developer, IOHK, is desirous of further enhancing throughput through off-chain means, with the deployment of Hydra Heads a vital tool in this drive.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The first Cardano Hydra Head is now live on the mainnet, but this is not preventing bears from pinning down ADA, the native currency of Cardano, going by its performance on the daily chart. Scaling Cardano Using Hydra Heads According to Cardano documentation, Hydra Head will be the first in a suite of protocols that will help the smart contracting platform further process more transactions.\u00a0 This is vital considering Cardano\u2019s gradual enhancement of its mainnet to eventually handle enterprise-grade DApps demanding higher throughput.\u00a0 Observers note that the release of the first layer-2 Hydra Head is a milestone in the current Basho State in Cardano, where scaling and network enhancement is a priority. Hydra is a family of layer 2 protocols designed to make #Cardano more scalable and adaptable for various use cases that require fast and cheap transactions. The first Hydra head recently opened on mainnet. This video is a great starting point for exploring the current release,\u2026 pic.twitter.com\/g1moYifGNj &mdash; Input Output (@InputOutputHK) May 4, 2023 The Hydra Head, now live on mainnet, provides what platform developers describe\u00a0as a \u201csecure isomorphic state channel\u201d that works off-chain, connecting participants. Notably, transactions sent within a Head are settled instantly.\u00a0 Hydra uses the same architecture as the Bitcoin Lightning Network (LN) that also uses channels. Like the LN, those keen on using the Hydra Head must first deposit funds. Researchers said these Heads could be connected in the future, effectively forming a network. While this development is bullish in the long term, ADA prices are falling when writing in early May 2023. This could be because though Cardano promises to surpass Ethereum as the home of DApps, offering better scaling and decentralization, activity is still relatively low.\u00a0 Related Reading: Cardano (ADA) Price Plunges As Bears Try To Over DeFiLlama data, for example,\u00a0shows that the total value locked (TVL) in Cardano is $152.74m while Ethereum manages $28.61 billion.\u00a0 Moreover, Unlike Ethereum, which supported smart contracting immediately after launching, Cardano\u2019s smart contracting came years later during the Goguen Stage.\u00a0 ADA Prices Under Pressure ADA is down 15% from April 2023 peaks when writing and under pressure on the last trading day. The coin is also trailing Bitcoin and Ethereum in the past 24 hours.\u00a0 At the same time, CoinMarketCap data\u00a0shows a sharp contraction in trading volumes. To illustrate, ADA\u2019s trading volumes in the previous 24 hours stand at $163,490,485, down 36%.\u00a0 This general drop in prices and trading volumes is despite Input Output Hong Kong (IOHK) releasing the first Hydra Head on the Cardano mainnet on May 4.\u00a0 Related Reading: Cardano TVL Climbs By 10% In A Day \u2013 Is ADA Set To Soar Once Again? Like Ethereum, Cardano supports smart contracting and a wide range of decentralized applications (DApps). However, the lead developer, IOHK, is desirous of further enhancing throughput through off-chain means, with the deployment of Hydra Heads a vital tool in this drive. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":530056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[88218,12332,1946,14656,88217],"class_list":["post-530043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-basho","tag-cardano","tag-ethereum","tag-hydra","tag-layer-2-scaling"],"acf":[],"yoast_head":"\n<title>Cardano Launches First Hydra Head For L2 Scaling, But Why Is ADA Dropping?<\/title>\n<meta name=\"description\" content=\"The first Cardano Hydra Head might live on the mainnet, but this is not preventing bears from pinning down ADA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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