Cardano (ADA), developed by the Ethereum (ETH) co-founder to rival Ethereum, is now moving towards a very important update. Cardano, which recently gained the smart contract feature with the Alonzo hard fork, wants to take it to the next level with the current hard fork.

The Hydra team has actually left behind another new milestone and is one step closer to the release of the protocol. Cardano founder Charles Hoskinson congratulated the team in a statement on the subject.

The Hydra team recently activated the first of the Hydra Heads side networks on the Cardano mainnet. This means that the Layer 2 focused scaling solution has officially started to be integrated into the mainnet. The release of the protocol was thus taken much more recently. Cardano CEO Hoskinson said:

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   “I am extremely proud of the Hydra team for achieving this milestone. It is one of the fastest and best hands-on pieces of research in the Cardano Ecosystem.”

The fact that the Hydra update, which was first on the agenda in 2020, was activated in such a short time is a great success. Cardano hopes to achieve serious scaling with this update, just like Ethereum's transition to 2.0. Hoskinson emphasized that the team accomplished great things in a short time and that with this update, the number of transactions per second on the network could break a record.

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Cardano stake value has set a new record!

As Cardano's (ADA) ecosystem continues to grow, so is its locked aggregate value (TVL), which has made great strides since late January 2022 and recently exceeded $200 million.

TVL for the largest Proof-of-Stake (PoS) digital asset hit an all-time high of $207.67 million, according to data from analytics platform Defi Llama.

It is worth noting that TVL for Cardano has been on a steady rise since late January 2022 after a long period of decline, coinciding with the launch of SundaeSwap (SUNDAE), the first decentralized exchange (DEX) of the blockchain.