By Darius McQuaid
Edited by Charlie Mellor
13:23, 6 January 2023
After the long-awaited Vasil upgrade to the Cardano (ADA) platform last year, the proof-of-stake blockchain’s supporters are eagerly awaiting three key releases that are expected to come to fruition in 2023.
These are set to cover stablecoins, Cardano’s scalability issues and the platform’s continuing development of oracles.
As of 11:44 GMT on 6 January, ADA was trading at $0.27, up by 1.68% compared with the previous day, according to CoinMarketCap.
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Two stablecoins are expected to be launched in the coming months – the US-dollar backed stablecoin USDA and the overcollaterlised stablecoin djed (DJED), reported U.Today.
Emurgo, the commercial arm and founding entity of the Cardano blockchain, announced in November 2022 that USDA will be launched on the Anzens platform in the first quarter of 2023.
More recently, it has revealed that the waitlist to find out more information about USDA opened to the public on 28 December.
Meanwhile, the DJED stablecoin is being developed in partnership with the enterprise-grade fintech platform Coti.
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Unlike USDA, which will maintain its parity by using fiat assets, DJED will maintain its peg through Cardano’s smart contracts as well as a reserve of base currencies.
Coti announced in early December 2022 that it had reactivated the public testnet for DJED and more recently said it will launch in January 2023.
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For some time now, Cardano has been preparing for Hydra – Cardano’s Layer 2 scalability solution that aims to increase “transaction speed through low latency and high throughput also offering minimised transaction cost”.
Hydra Head is the first member of the Hydra family protocol. Each Hydra Head, according to the Cardano platform, “works as an off-chain mini ledger shared between a small group of participants. Developers can use Hydra Heads to add specialised, complex protocols on top of Cardano”.
The whitepaper for Hydra was released in March 2020 and it is seen as an important development for 2023.
In the wake of last year’s launch of Charli3 – the Cardano blockchain’s first decentralised oracle network – there is a further expectation of more to come concerning oracles – which allow on-chain and off-chain data to connect.
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