Cardano can climb faster than VISA
On March 25, Cardano announced that he was ready to fulfill a long promise that lasted 5 years. With the introduction of its new solution, Cardano can scale faster than VISA.
Cardano solution that surpasses VISA
This is a protocol that has been under development for 5 years. It has significantly improved the scalability and low latency of the Cardano blockchain. This solution enables the use of reconciliations, insurance contracts, micro payments and other low-rate uses.
The scalability problem
Within the projects BlockchainWe see a big problem that has arisen over the years: scalability. For this reason, Cardano has decided to carry out a project in which it scales even faster than VISA.
Scability can be defined as the ability of a computer system to change its size or configuration. This enables the system to be adapted to changing circumstances in the network. In this case, the scalability is within the chain to react and adapt without losing quality.
Cardano starts a solution
Cardano is launching a solution that could represent a breakthrough in blockchain scalability and is a critical step toward payment methods. Noting that the development of this solution took 5 years and was constantly researched and funded.
It is the Hydra protocol from Ouroboros, Cardano’s solution, that makes it possible to finally overcome VISA. With this protocol, the chain can be scaled with low latency and high scalability, so that it can adapt without losing quality.
In addition, the reduction in memory in the nodes of the chain enables the Cardano blockchain to be suitable for new applications.
It is that the 1000 head network could be scaled to one million transactions per second. This means that Hydra can reach the maximum number of transactions based on geographic distance, the number of participants and the limitations of network speed. This would lead to a strong increase in transactions worldwide.
Inside Outside Hong Kong (IOHK) is the company behind Cardano, commenting that the protocol was made possible thanks to the collaboration of 5 years of funding from the European Union.
In this way, this new protocol enables the current number of transactions to be scaled, making it the best and fastest payment system in the world.
A study by the University of Edinburgh suggests that Cardano’s solution can process 1,000 transactions per second. However, it could escalate further and reach up to a million transactions.
Aggelos Kiayias, director of the blockchain laboratory at the University of Edinburgh, also explains that it is time for an approach that is based on the design and construction principles of scalability solutions.
According to the planned project, it is expected to exceed the statistics on payment methods with a viable improvement.