Cardano Keeps Building: Hydra Updates, Lace Wallet Upgrades, and Project Catalyst Fund12 on the Horizon

Cardano ADA

The Cardano ecosystem is buzzing with development activity, as evidenced by the latest report. This report highlights progress on the highly anticipated Hydra scaling solution, the Lace Web3 wallet, and other core Cardano products.

Hydra Gets a Boost

Hydra, Cardano’s layer-2 solution designed for high transaction throughput and low latency, received a significant update. Hydra v.0.16.0 now supports Cardano node v.8.9.0, integrating the Conway block format for improved efficiency. Additionally, the team updated Hydra clients like Kupo and Hydraw to ensure compatibility with the new Hydra API format.

Hydra’s development is crucial for Cardano’s future scalability ambitions. Last month, Cardano founder Charles Hoskinson addressed concerns and “FUD” (fear, uncertainty, and doubt) surrounding Hydra’s development, emphasizing the team’s commitment to the project.

Lace Wallet Enhances User Experience: The Lace Web3 wallet also saw improvements with the release of Lace v.1.10. This update streamlines the onboarding process for new users, making wallet creation and account recovery faster and easier. Additionally, Lace boasts a revamped dApp wallet experience prioritizing security and enhanced staking views with sorting options and improved search functionality.

Mithril Keeps Up the Pace: The Mithril team, responsible for integrating smart contracts into Cardano, focused on implementing Cardano transaction certification within Mithril networks last week. Efforts centered on scaling signature and proof generation for the mainnet. They also finalized the incremental transaction storage feature and developed a prototype for a decentralized signer registration system utilizing relays and a P2P network.

Project Catalyst Gears Up for Fund12

Mark your calendars! Cardano’s community-driven innovation program, Project Catalyst, is launching Fund12 on April 26th in Barcelona, Spain. Fund11, which launched in January, allocated 50 million ADA tokens to community-proposed projects. Registration to attend the event in person or livestream it online is now open.

Also Read: Cardano (ADA) Price Prediction: Fractal Pattern Hints at 2000% Surge, But On-Chain Metrics Tell a Different Story

Cardano’s development continues at a steady pace, with key projects like Hydra, Lace wallet, and Mithril making significant advancements. Project Catalyst’s Fund12 launch further underscores Cardano’s commitment to fostering a vibrant and innovative ecosystem.

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