Mithril

Cardano

Hydra

2024

Value

<ul> 
 <li>Cardano publishes its latest weekly report, featuring comprehensive developmental updates from Education, Hydra, Mithril teams, etc.&nbsp;</li> 
</ul> 
<ul> 
 <li>Within the period, 10.25 million native tokens were recorded and 94.5 million transactions executed; however, the price of ADA fell by 31%.&nbsp;</li> 
</ul> 
<a href="https://www.crypto-news-flash.com/what-is-cardano-ada-the-best-3rd-generation-blockchain/" target="_blank" rel="noopener">Cardano (ADA)</a> has, in its weekly <a href="https://www.essentialcardano.io/development-update/weekly-development-report-as-of-2024-08-02" target="_blank" rel="nofollow noopener">report</a>, announced updates on a series of technical developments and its on-chain statistics. In the week ending August 2, the Cardano ecosystem had 1,370 projects built, with 94.5 million transactions completed. Also, there were 159,477 token policies, 71,108 Plutus scripts, 10.25 million native tokens, and 579.8 million Total Value Locked (TVL). 
Within the period, the ledger team continued its Conway features and conformance testing, during which a bug that could have disrupted its functionality was identified and fixed.&nbsp; 
Another upgrade highlighted in the weekly report is that of the Hydra team. As reported, they continued refining and scoping work around the network reliability. In doing so, specific faults were identified and addressed. After this, they doubled down their efforts to run the Hydra head-on preview to be sure that empty decommits had no significant problem. 
The Hydra head for compatibility was also upgraded with the latest Cardano node, ensuring that operations continue during the upcoming hard fork. Most importantly, a technical writing style was introduced for consistency in documentation.&nbsp; 
<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> (<a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw">#ADA</a>) Weekly Update: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6e0.png" alt="🛠" class="wp-smiley" style="height: 1em; max-height: 1em;"> Conway bug fixed; CDDL spec finalized <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"> Hydra improves network reliability &amp; upgrades for Cardano node v9.1.0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Mithril 2430.0 released: supports new node version &amp; API enhancements <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f5c2.png" alt="🗂" class="wp-smiley" style="height: 1em; max-height: 1em;"> Catalyst onboarding: 91% forms submitted, 81% milestone… <a href="https://t.co/CBxLQWzfxl">pic.twitter.com/CBxLQWzfxl</a>— Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1820338686304923773?ref_src=twsrc%5Etfw">August 5, 2024</a> 
<h3 id="more-on-the-mithril-team-education-team-cardano-ada-price-etc">More on the Mithril Team, Education Team, Cardano (ADA) Price, etc</h3> 
The Mithril team was further reported to have made multiple high-profile upgrades while working on the certification of the Cardano stake distribution.&nbsp; 
<blockquote>
 The Mithril team released the new distribution `2430.0, which includes support for Cardano node version 9.1.0. They activated the certification of Cardano transactions in the release-preprod and pre-release-preview networks and also included bug fixes and performance improvements. The team continued their work on the certification of Cardano stake distribution, activated the certification in the test networks, and started working on implementing new routes for the aggregator REST API.
</blockquote> 
In addition, the team “benchmarked the signer’s footprint on the SPO infrastructure” and comprehensively tested edge cases for Cardano transaction certification.&nbsp; 
The next update came from the VOLTAIRE &amp; SANCHONET, Catalyst, and the Education team. First, node v.9.1.0 was released, and all users were advised to upgrade to this or a later version. This is to fully prepare ahead of the Chang upgrade <a href="https://www.crypto-news-flash.com/cardanos-chang-upgrade-to-boost-adas-superior-tech-will-the-price-hit-1/" target="_blank" rel="noopener">reported</a> by Crypto News Flash.&nbsp; 
Under the Catalyst, onboarding was reported to be effective, with “91 percent of onboarding forms and 81 percent of statements of milestones submitted.” In addition, reviewers signed off on 36 percent of statements of milestones. On July 31, the last town hall for Fund12 was held, and the next town halls are expected to be retrospective. This implies that feedback would be gathered from the community pending the Catalyst cooldown period.&nbsp; 
Additionally, the education team organized graduation events and updated content for mastering Cardano.&nbsp; 
<blockquote>
 This week, the education team completed a successful CardanoDeveloper course at the UTN in Buenos Aires. They also organized a graduation event for over 20 aspiring smart contract developers who graduated from the course. Additionally, the team updated content for Mastering Cardano and supported training efforts for the Constitutional Committee.
</blockquote> 
At press time, ADA was <a href="https://www.crypto-news-flash.com/why-are-whales-buying-up-this-ai-token-over-cardano-ada-and-chainlink-link-this-weekend/" target="_blank" rel="noopener">trading</a> at $0.288, having declined 19% in the last 24 hours and 31% in the last seven days.&nbsp; 

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&nbsp;

Cardano Adoption: Conway Bug Fixed, Hydra Enhancements, and New Mithril Distribution

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