In case you have not heard, there has been a lot of new developments in Cardano development. The following are some of the key updates:
1. Smart Contracts – this is now live in testnet with Alonzo Blue. The Cardano team has announced a staggered rollout onto testnet with an implementation to production mainnet by September. This is the most detailed plan we’ve seen for smart contracts so far. Barring any delays, it looks like we will definitely have smart contracts by end of the year.
2. ERC20 Converter – this will allow tokens to flow between the Ethereum and Cardano networks. More details on the implementation schedule has been released. The flow from Ethereum to Cardano is expected to go live on testnet in June. The flow from Cardano to Ethereum will go live after the Alonzo hard fork later in the year.
3. Hydra Update – more details has been released about Cardano’s scaling solution which is called Hydra. Hydra will increase the transactions per second of Cardano to at least 1 million transactions per second (tps). This is huge considering Bitcoin is only at about 5 tps and Visa (the gold standard for transaction processing today), is only at 2000 tps. Note that Cardano was tested in 2017 to already have an impressive 257 tps for a blockchain. Hydra will significantly improve on this once it goes live.
There are other announcements but these are the most exciting ones in my opinion. It is great to see more concrete dates for some of the projects. This gives the community reassurance that things are coming along well.
These are truly exciting times for Cardano. If you are interested, you can watch the full 1.5 hour presentation through this link.
In other news, here is a shout out to WISH Pool’s new delegators who joined us in the past epoch. Please remember that your rewards will come 15 to 20 days after you first delegate to the pool. See our simple graphical diagram for more information here.
In terms of block production, after WISH Pool’s incredible luck in the past, the protocol caught up and gave us an epoch with 0 blocks last epoch. This was unusual as our active stake just hit 3.25 million ADA last epoch. Nevertheless, for this epoch, the leaderlogs show that we are due to make a block so our luck seems to be improving. To our new delegators, thanks again for joining. Please expect your rewards in your wallets in 15 to 20 days.
If you like this article, please consider delegating your ADA to WISH Pool. You will be earning interest rewards while indirectly helping the lives of disadvantaged children. This is because at WISH Pool, we pledge to give at least 10% of our own profit to educational charities so that successful students can help get their families out of poverty.