Cardano Debuts New Hydra Version, ADA Price Pump Incoming?

ADA Cardano News: According to an update shared by Cardano developer Sebastian Nagel on X (formerly Twitter), there is a latest upgrade for Cardano Hydra, the protocol’s flagship layer-2 scaling solution. Cardano Hydra v0.12.0 software was published earlier this week. Nagel shared the details of its release notes alongside a summary on Twitter. 

Cardano Hydra v0.12.0 Upgrade Now Live

Based on Nagel’s summary, the highly-anticipated upgrade is well-compatible with the Cardano Node v8.1.2 client as well as the newly launched Mithril protocol developed by Input Output Global (IOG). 

Cardano Hydra v0.12.0 had initially gone live on the mainnet on July 30th. It is designed to revolutionize the processes involved in synchronizing nodes on Cardano and make them more developer-friendly.

This new version also brings additional functionalities to Cardano Hydra as it has to do with Application Programming Interfaces (APIs). The layer-2 scaling solution will begin to operate new API endpoints, making it all the more accessible to Web3.0 developers and researchers. 

In addition to these features, the Hydra upgrade came with some code optimizations to enhance Hydra’s on-chain performance and security. With these fast and safer capabilities, Hydra is billed to attain several new milestones. 

More details of its release are expected to be shared by contributors in the upcoming cryptocurrency convention Rare Evo 2023, which will be held in Denver, Colorado between August 24th and 26th. Hydra had initially upgraded to version 0.11.0 which made the Layer-2 ledger fully isomorphic to the Cardano Layer-1 by adding timed transaction support.  

Cardano Upgrade and Impact on ADA Price

Meanwhile, the latest v0.12.0 upgrade may impact positively on the price of ADA like every other upgrade. Right after Cardano launched Aiken, the programming language and toolkit for simplifying the development of smart contracts on the Cardano blockchain went live, the price of ADA price jumped by 6%. 

In the past 24 hours which is within the time of the upgrade release, ADA’s price has gained 1.51% and is now trading at $0.2681. Cardano bulls may capitalize on this enhanced usability to stack up on the coin, helping to chart a much needed recovery after this week’s market rout.