gimbal (CRYPTO:ADA) has climbed the ranks of cryptocurrencies over the past year. This young player is now the seventh largest crypto by market value. Investors and affluent users to this blockchain. Wallets for Cardano’s native currency – Ada – recently hit a record high of over three million, according to Cardano Blockchain Insights. And Cardano almost doubled its number of developers last year, according to a research report by Electric Capital.

1. An exciting update is on the way

Transaction speed is a major goal for any blockchain aiming to reshape the way business is planned. At the moment, Cardano trades around 250 transactions per second (TPS). But the blockchain is going to go faster. This is where Hydra comes in. Currently, engineers are working on this scaling solution which involves Hydra heads or off-chain dampers. 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 tests have shown that each bud can handle 1000 TPS. Of course, multiple heads increase this number. Thus, Cardano is well on its way to excel in speed. But three other metrics could be even more important than TPS, according to Hydra software engineer Matthias Benkort. And these are the volume of data required, the time required to complete a transaction, and the amount of work that can be done simultaneously. Hydra also wins in these areas.

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

2. A focus on quality

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

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

Building on Cardano? Head over to the Developer Portal to get inspired, explore cool projects, and help grow the #Cardano ecosystem! Let’s grow together. Build on Cardano✌️ 👉https://t.co/yYmG77y82j #Developers #BuildOnCardano https://t.co/qNxMndxxTI

Image

3. Potential Multibagger

Today, Cardano is trading for around $1.15. And there are approximately 33.5 billion Ada coins in circulation. If Cardano were multiplied by five, the market value would reach $192 billion. It worked from Cardano the third largest crypto-money after Bitcoin and Ethereum . So, from a coin supply and price point of view, the multibagger scenario is possible.

the multibagger 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, smart contract capabilities were just spawned last fall. And, as I mentioned, development and scaling is ongoing. There are therefore many elements likely to generate gains.