Cardano community is awaiting September 25th to welcome the Cardano summit 2021! Prior to the event, Cardano officials revealed innovations that are going to happen. The main focal point of discussion will be Hydra, a key layer-2 protocol to boost Cardano’s scalability. That update is the most advanced and fresh development enabled by Alonzo Hard Fork.
Hydra Protocol – Cardano’s Solution for Flexible Layer-2 Scalability!
After thorough research from team IOHK, the Hydra paper was released. It is going to be one of the significant milestones in the development of ADA. Hydra protocol advances Cardano’s Proof-of-Stake scalability. Hydra will be the game-changer for the Cardano ecosystem, this layer-2 scalability protocol aims to maximize throughput, minimize latency, cost-efficient and considerable requirements.
Charles Hoskinson said that team has got lot’s to say about Hydra at the Cardano summit. In addition to this, the Cardano community raised curiosity among community members revealing possible events. According to the team, the Cardano summit is going to witness 40 community-led events, 7 main summit events, 60 community hosts. A mix of virtual and live events from around the world.
what can you expect at the Cardano summit?
The Cardano Summit is the inclusion of virtual worlds for users to explore. They are named Main Stage, Utility, Governance, Impact, Adoption, Catalyst, and Community.
In addition, just like in a virtual world game, attendees can interact with others in a “speech bubble” when in close virtual proximity.
There’s also a raft of videos, including the thing investors most want to know about, news of major announcements. As well as updates and interviews over the two days.
- Seven virtual worlds to explore
- Avatars that let you talk to community members from around the world
- 48 hours of exclusive content
- 80 exclusive videos from keynotes to major news announcements, updates and interviews & community showcases
- Limited edition NFTs to collect
Cardano Outpowers Ethereum by 150% Prior to Cardano Sumit!
Prior to the Summit, Cardano price seems to be ‘Calm before the storm’! According to the report of Messari.io, Cardano’s trading volume outpowered Ethereum by a large margin. Well, Cardano with $14.90 billion trading volume over the last 24 hours topped the list of smart contracts sector. Ethereum’s trading volume being $9.98 billion over the last 24 hours.
Interesting note, even with low transaction volume Ethereum price collected in the last 24 hours is $33.47 million with 548,934 active addresses! And ADA surprisingly, with 150% more transaction volume than ETH collected only $41.19K fees. Followed by ADA and ETH, Polkadot stands at 3rd place in the Smart contracts platform with $1.15 billion transaction volume in the last 24 hours.
Raoul Pal Sees Potential Growth in Cardano
In a new interview with Bitboy Crypto, Raoul Pal, the founder of Real Vision and Global Macro Investor said that he finds Cardano interesting and sees potential growth opportunities for the third-largest crypto.
Pal Said that,
I like the project. I think it’s very interesting. We really need to see more network adoption, so it’s early for me… It’s doing well. There’s a big community behind it so that gives you one side of the network. We need to see more use cases outside of the Ethiopia case that’s being talked about a lot. I own some and I’m just waiting to see. Is it going to start getting a lot of traction, people building stuff on it?”
Pal also shared his view on Cardano’s Alonzo upgrade bringing smart contracts functionality to the blockchain.
“I know people are waiting for the smart contract side so you know. Maybe it’s not the biggest outperformer in this cycle, but you know if it survives this cycle and continues to get adoption, it’ll probably do very well on the next side.”
Additionally, Pal disclosed that he is also interested in social tokens that are designed to transform traditional business models, pointing towards Chiliz (CHZ) and Rally (RLY) as two early leaders in the space.