• Cardano (ADA) is set to welcome three major innovations in Oracles, Stablecoins, and L2 solutions.
• The first is the advent of Oracles on Cardano, which will enable the protocol to break free from its closed nature and connect with the real world.
• Cardano is also expected to introduce Stablecoins and Hydra, which are advanced tools that will enhance the protocol’s functionality, flexibility, and scalability.
Cardano is set to take a big leap forward this year with the introduction of three major innovations in Oracle technology, Stablecoins, and Layer 2 solutions. The expectations are high for the growth of the Cardano ecosystem, with many hoping for a price of ADA to reach $2.
The first major upgrade coming to Cardano is the implementation of Oracle technology. Oracles are an advanced tool that will enable the blockchain protocol to interact with the real world. Oracles provide a bridge between off-chain and on-chain data, allowing for the execution of atomic swaps, cross-chain liquidity pools, and pricing based on mutually agreed oracle data. Cardano is currently utilizing Charli3, a decentralized oracle that is growing in popularity. However, the next generation of Oracles on Cardano will be far more advanced and able to handle more complex utilities.
The second upgrade is the introduction of Stablecoins on the Cardano protocol. Stablecoins are digital tokens that are pegged to a real-world asset, such as the US dollar, and provide a stable store of value. Stablecoins will enable Cardano users to hedge against the volatility of the crypto markets, giving them more protection and security.
Finally, Cardano will be introducing Hydra, a Layer 2 solution. Hydra is a second layer protocol that will be built on top of the Cardano blockchain and will enable faster, more efficient transactions. It will also provide scalability, allowing the Cardano network to process higher volumes of transactions.
Overall, the three major upgrades coming to Cardano this year are expected to take the protocol to the next level. With the addition of Oracles, Stablecoins, and Hydra, Cardano will be able to become more connected to the real world, provide users with a more secure store of value, and increase its scalability. With these updates, the Cardano ecosystem is expected to grow and many are hopeful that the price of ADA will hit $2 by the end of the year.