Will These Fundamentals Take Cardano Price To New Highs In Q1 of 2022

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The Cardano community has been eagerly waiting for a breakthrough from the chained momentum. Wherefore, Cardano’s native coin ADA has been crawling at a sluggish pace since the alonzo hard fork update. While the community waits for a major upgrade that could help the digital asset rebound from the sluggish pace.

Cardano’s scaling solution Hydra’s makers have launched Hydra’s second proof of concept pre release build. Which has been garnering the interests of savvies in the Cardano community.

The network has been witnessing a spur in metrics at several fronts. Meanwhile, the canonical founder cites about the exploit in Cardano’s dapp, which has been a saviour for beneficiaries.

Is Cardano Lucubrating To Unchain The Bulls?

Enthusiasts from the Cardano fraternity have been enthralled in view of Cardano’s scaling solution Hydra nearing its release. The makers behind the scaling solution have recently launched the pre-release of the second proof of concept build. Which sees end-to-end Cardano node integration.

Proponents believe the layer-2 scaling solution to be progressing well at numerous fronts.  Hydra aims to drive down costs while increasing throughput and maintaining security. Achieving throughput required to support the applications in the real world remains a tedious task for permissionless blockchains.

According to sources, the release sees an addition of direct chain integration that allows it to connect to real Cardano node / devnet. The release also sees support for Alonzo transactions inside the Hydra head for now using a free cost model.

Prevention Better Than Cure?

Canonical founder Jonathan Fischoff, in a blog release cites that, since mid of October every Cardano dApp with publicly accessible smart contract code has had an exploit in their initial smart contracts. The team has not found any attack on the UTxOs. 

Fischoff further mentions that, solving the exploit might lead to a decrease in the efficiency and working of smart contracts. On the Cardano network, which was recently integrated via the Alonzo testnet.

A full in-depth description of which is yet to be publicized from the team’s end. However, several geeks from the fraternity have taken it sportingly, while anticipating resolutions.

Collectively, Cardano has been exhibiting praise worthy metrics at several fronts. For instance, since 2016, 128 Cardano research papers have been published, and 45 of which were published this year.

Cardano network has seen a 4X growth in daily active addresses, and the monthly transactions also grew 75.8% in November. Hopefully, ADA price rises above its resistance area above $2, prior to a bullish move higher up.