Cardano Double Wins – Hits NFT Milestone And Launches First Hydra Node

Charles Hoskinson, the founder of Cardano, speaks about the expansion of the ecosystem following multiple milestones.

More than 4 million NFTs have been Minted

Cardano’s smart contract have been challenging Ethereum’s, particularly when it comes to minting NFTs. Cardano is the largest Proof-of-Stake network. Its gas fees are considerably lower than those of Ethereum. Ethereum still runs on the Proof-of-Work consensus system. It is likely that all Cardano-centric NFT issuesrs are represented by the Cardano blockchain’s approximately 50,000 registered minting policies. The actual number of NFTs, however, is higher than that, since some issuers may mint thousands of individual NFTs.

Morgan Schofield, Head of Ecosystem Growth, Input Output Global has tweeted the announcement that the platform now houses four million NFTs. He stated that digital sovereign ownership will only increase as the platform scales throughput.

Charles Hoskinson, the founder of this company, shared the news. He stated,

Remember when I predicted thousands upon thousands of assets and DApps for Cardano. It turned out that I was wrong. There are millions of native assets now and hundreds of DApps. #SlowAndSteady.”

Hydra Milestone Attained

Sebastian Nagel, a developer from Cardano, has announced another milestone in Hydra’s development. Hydra is a collection of Layer 2 solutions that are designed to improve network security and scalability. Nagel announced that the first version hydra-node had been released. It can now connect to Cardano’s public testnet.

Nagel tweeted,

“This is the first version of Hydra-node that can connect to Cardano’s public testnet – Version 0.4.0!” It is still quite difficult to set up. There are dragons and footguns. With 0.5.0, we hope to improve the situation and there will be many more releases.

ADA Jumps Above $1

Recent developments on Cardano have boosted ADA above $1 which has greatly benefited token holders. IntoTheBlock, an on-chain tracker and analyst, reported that the price rise has benefited two groups of token holders. It reported that

As the accumulation patterns persist, $ADA has risen by 10% in the past 24 hours. Addresses with holding indicators show an increase in accumulation across all brackets. Addresses with 10-100 and 100k-1m ADA had their balances increase by 12% and 11% respectively in the past 30 days.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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