Cardano (ADA-USD) has been on a tear in recent months. Since launching smart contracts in the fall of 2021, the network is already taking in dozens of decentralized apps (dapps). In December, it reached 20 million total transactions. And now, there’s a new ADA crypto catalyst on the horizon in the form of the long-awaited Mamba upgrade.
The Cardano network is fast becoming one of the largest layer-1 blockchain networks in the world. Founded by Ethereum (ETH-USD) co-founder Charles Hoskinson, Cardano has accrued billions of dollars in market capitalization even before its network was ready for use. Now, as it starts attracting developers to its ecosystem, it has ballooned to a $28 billion market cap.
There have been a number of upgrades which paved the way for the ADA crypto’s success thus far. The Alonzo Purple upgrade in September saw the implementation of smart contracts. The incoming Hydra upgrade will massively increase the network’s scalability, processing up to 1 million transactions per second.
But first, there’s an upgrade Cardano fans have been waiting for that could be coming very soon.
ADA Crypto Gets a Boost as Charles Hoskinson Hints at Mamba Upgrade
Earlier this week, Charles Hoskinson gave ADA crypto holders something to be excited over. In a video update Hoskinson posted to his Twitter page, he hinted at the possibility of the Mamba upgrade coming as soon as this month.
Mamba is a project which Cardano developers have been teasing for a while now. The project, a sidechain which can vastly increase scalability on the network, is in development under Input Output, the company which owns Cardano.
While the network first teased the possibility of a Mamba release in mid-January, Hoskinson provided clearer details into the launch this week. In his video update, Hoskinson said Mamba will see a rollout either by the end of March or in April.
As the news continues to make its way around the web, the ADA crypto is posting some decent gains. In the last 24 hours, ADA has grown by 6%.
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
