After Vasil’s long-awaited update to the Cardano (ADA) platform last year, supporters of the proof-of-stake blockchain are eagerly awaiting three key releases that are expected to come to fruition in 2023.
These are set to cover stablecoins, Cardano’s scalability issues, and the platform’s ongoing oracle development. As of January 6 at 11:44 GMT, ADA was trading at $0.27, up 1.68% from the previous day, according to CoinMarketCap.
Two stablecoins are expected to be launched in the coming months – the USD-backed stablecoin USDA and the over-collateralized stablecoin djed (DJED), U.Today reports. Emurgo, the commercial arm and co-founder of the Cardano blockchain, announced in November 2022 that the USDA will launch on the Anzens platform in the first quarter of 2023.
More recently, it was revealed that the waiting list went public on Dec. 28 to learn more about the USDA.
Unlike the USDA, which will maintain its parity using fiat assets, DJED will maintain its anchor through Cardano’s smart contracts and base currency reserve. Coti announced it was re-enabling the public testnet for DJED in early December 2022, and more recently said it will launch in January 2023.
Hydra
For some time now, Cardano has been preparing for Hydra – Cardano’s Layer 2 scalability solution that aims to increase “transaction speed through low latency and high throughput also offering minimised transaction cost”.
Hydra Head is the first member of the Hydra family protocol. Each Hydra Head, according to the Cardano platform, “works as an off-chain mini ledger shared between a small group of participants. Developers can use Hydra Heads to add specialized, complex protocols on top of Cardano”. The whitepaper for Hydra was released in March 2020 and it is seen as an important development for 2023.
Oracles
In the wake of last year’s launch of Charli3 – the Cardano blockchain’s first decentralized oracle network – there is a further expectation of more to come concerning oracles – which allow on-chain and off-chain data to connect.
source: capital
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.
