![]() With Lace, multiple assets can be transferred bundled as one transaction and charged a single fee, significantly saving costs.īesides, Cardano’s Ethereum Virtual Machine layer, Milkomeda, announced last March that it was integrating a feature enabling every Cardano user to access EVM contracts from Cardano wallets. Lace is similar to MetaMask, a browser-built wallet where users can access and operate Cardano-based decentralized applications, sending and receiving ADA, non-fungible tokens, and other digital assets. It was followed by Lace Wallet, a platform that allows Cardano users to stake native ADA tokens. In January, the network announced the launch of its decentralized stablecoin, Djed. This year, Cardano has focused on releasing upgrades targeting DeFi. The next version, 0.11.0, is reportedly underway.Ĭardano’s Series of DeFi Upgrades Unveiled This Year With the successful deployment on the mainnet, Cardano developers have updated the API to accommodate the first batch of requests, preparing Hydra for real-world use cases. The first version of Hydra Head was released at the start of the month. ‘‘After demonstrating Hydra Heads on the Cardano mainnet in recent monthly review sessions, we have released the first mainnet compatible version of Hydra-node today,’’ Nagel said in a series of tweets. Sebastian Nagel, one of the developers, shared the technical document describing how Hydra Head version 0.10.0 works: an off-chain ‘mini-ledger’ shared among a small group of users, which increases the transaction speeds and reduces fees. Hydra Heads allow developers to integrate complex decentralized finance (DeFi) applications on Cardano – a part of the DeFi-upgrades released on the network this year. It is an off-chain ‘mini ledger’ shared between small groups of participants.Ĭardano’s node Hydra Head, a collection of layer-2 protocols designed to boost the scalability of Cardano, has gone live on the mainnet, the blockchain developers announced Thursday.The scaling tool is part of a suite of products in Cardano for DeFi.
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