Hydra protocol has propelled its transaction processing power beyond Visa’s, achieving billions of transactions daily.
Cardano’s architect, Charles Hoskinson, recently underscored the long-term strategic ambition for the network: to evolve into a fundamental infrastructural component for economic, political, and societal frameworks.
Realizing such an expansive vision necessitates substantial transactional scalability.
Cardano appears well-positioned to meet this challenge, primarily due to its innovative Hydra protocol.
A recent announcement from IOHK’s product team highlighted Cardano’s exceptional processing capacity, demonstrating the execution of 15.5 billion transactions within a single 24-hour period.
This remarkable feat of transaction processing positions Cardano advantageously when compared to numerous competing blockchain platforms.
Notably, this throughput significantly eclipses the established daily processing volume of Visa.
Industry data suggests Visa’s network manages approximately 65,000 transaction messages every second.
This performance metric suggests Cardano possesses the inherent capacity to manage transactional demand on a global scale.
Basho Upgrade Projected to Catalyze Cardano’s Performance Beyond Solana and Sui
Cardano‘s phased development strategy is steadily progressing towards its next critical evolution—the Basho era.
As the fourth major stage in its roadmap, Basho is strategically designed to optimize network performance.
Anticipation surrounds the potential for the Basho upgrade to propel Cardano’s speed and efficiency to levels surpassing those of prominent rivals such as Solana and Sui.
According to Charles Hoskinson, Cardano is strategically aligned to emerge as a frontrunner in blockchain transaction throughput.
The Basho enhancements, anticipated for deployment within the next year or so, will prioritize network optimization and scalability.
This amplified transaction processing capability is anticipated to be critically important for broader crypto adoption.
Specifically, the next wave of expansion in the cryptocurrency sector is predicted to be fueled by institutional engagement and the development of practical, real-world applications.
Cardano’s ADA Navigates Price Uncertainty
Analyzing Cardano’s native token, ADA, on the daily chart reveals a period of price consolidation over approximately two weeks, indicating a prevailing lack of market conviction regarding directional movement.
At the time of observation, ADA was trading at $0.708, representing a 46.41% reduction from its peak value in December.
A review of ADA’s weekly price chart suggests a tentative support zone forming around the $0.68 level.
This specific price point has exhibited resilience during recent price retracements, potentially indicating a foundation for renewed upward momentum.
Conversely, a breach below this support level in the current week could trigger increased selling pressure.
Despite positive sentiment stemming from the network’s transaction throughput achievements, demand for ADA within both spot and derivatives markets has remained somewhat subdued.
ADA’s price behavior is largely reflective of broader market dynamics impacting the cryptocurrency landscape.
Notably, ADA’s substantial price surge in February was largely attributed to speculation concerning its potential designation as a reserve asset within the U.S. crypto market.
Beyond this event, definitive catalysts capable of instigating another upward price trajectory have been scarce.
Current market ambiguities contribute to an uncertain outlook for Cardano’s near-term price action, suggesting the potential for price depreciation below the existing support level if prevailing market conditions weaken.
Also Read: Cardano’s ADA Gains 10% Recovery in March
