Cardano to Launch Layer 2 Solution This Year

Cardano to Launch Layer 2 Solution This Year

February 27, 2022 0 By Keith Jacobs

The Cardano network has been one of the busiest blockchain platforms during the last year. This year, the Cardano network has shared a detailed roadmap for sharing the development plan with its community. A new statement shared by Tim Harrison, the communications director at IOG, recently shared some more details about the roadmap for 2022.

Harrison tweeted reaching the middle of the first month of the New Year; Cardano blockchain can declare that it is hosting around 199 new projects. Harrison also intends to share the updates about the scaling solution upgrades and some other important projects on the Cardano network. Charles Hoskinson retweeted the post on his account as well.

The updates posted by Tim Harrison also shared a snap view of the breakdown of the Cardano project based on their current progress. Thus far, Cardano developers have already launched 18 projects during the last year. Meanwhile, the current number of active developing projects has increased to 199 from 175.

Furthermore, the developers plan on completing 17 projects before the end of Q1 of the current year. Among the highly anticipated projects is Hydra, a Layer 2 scaling solution that will add better scalability to the Cardano network as well as complement the recently upgraded smart contracts Layer 1 ecosystem after Alonzo hardfork implementation.

One area of prime concern for Cardano network developers is developing and implementing fool-proof security protocols into the network. To this end, the developers are working with DDoS flood attack experts and improving the throughput statistics for the network. Meanwhile, there is also some work needed to be done about the storage capacity issue and maintaining lower gas fees.

At this point, the Cardano network is planning to go head-to-head with the Ethereum network. The network has claimed that its next target is on-chain validation and faster testnet sequencing. The Hydra Layer will aid in decreasing the latency period, reduce expenses, and contain minimal data saving requirements.