The road to Hydra 2.0 and what it means for ChangeX
We’ve said it a number of times before, and we can safely say it again — we chose HydraChain as a starting point for ChangeX with good reason. We’ve explored that reason and the many small reasons that constitute it before, and in the following blog post we’ll do it again, although from a different perspective — we’ll use HydraChain’s own plans for that. And we’ll show you what they mean for ChangeX. Not to spoil it, but quite a lot.
The road to Hydra 2.0
HydraChain published a very detailed post on their Medium blog that touched on multiple facets and features of the chain. It also looked into the future, and the future is bright.
If you remember our blog post dedicated to LYDRA — HydraChain’s second native asset to be — then there’s no need for an interlude. In brief, LYDRA will be instrumental in opening the door to another form of leveraged staking. As we can see in the Hydra blog, work on LYDRA has made considerable progress and a devnet prototype is expected to arrive in mid-October, which is just around the corner.
It would be bold to speculate on LYDRA’s release date, but it’s safe to say it’s coming — and once it does, it will make its way to ChangeX as well. That means two types of leveraged staking, and even more opportunities, strategies, and combinations that will let you put your assets to work. Could LYDRA and banking coincide in their release? Now that would be something.
4x faster transactions in ChangeX
The road to Hydra 2.0 goes through HydraChain’s very own Merge, much like the one Ethereum had. The upgrade will introduce a much faster block time (32 seconds, down from the current 128 seconds), which, yes, means that ChangeX transactions on Hydra will be 4x faster than they currently are.
A much anticipated delegated staking feature is also coming, and delegated HYDRA staking will be possible in ChangeX with the press of a button. By the way, this shouldn’t take too long, but we’ll keep you posted. HydraChain 2.0 will also feature an upgrade of the EVM version, and many other improvements.
The Hydra Merge is still in the works, with the team behind the blockchain currently conducting tests and observations — and with very good results.
But come on — 4x faster block times. Need we say more than that?
Automatic liquidity mining and ChangeX
The HydraChain decentralized exchange (DEX) transitioned to a fully automated system for the management of liquidity mining campaigns on 1 September, which offers a much smoother experience and better accessibility. As Hydra themselves said, ChangeX will be able to leverage and expand on these DeFi elements in the future, providing you with the tools to get even more out of them. And because it’s all decentralized, the potential for new applications and derivative products is quite significant (and we intend to make the absolute most of it).
The Hydra DEX has undergone serious improvements in terms of source code and database, and the result is quite staggering — loading times have been reduced by 90%! High-scale traffic and activity on the DEX can now also be supported with ease. The benefit here is clear — ChangeX provides easy access to the DEX, and the reduction in loading times is a beautiful addition to its already existing benefits.
Improved Hydra Bridge
Remember all those attacks in the DeFi space we told you about? Most of them happened on DeFi bridges, so Hydra is taking extra care of its own bridge in order to prevent just that. It’s not only multi-sig protected, but the bridge also got a major upgrade just recently, benefitting from improved stability and achieving a massive 95% reduction in downtime. Last time we checked, the bridge had operated for 40 consecutive days without any technical support inquiries — a record.
The bridge is also getting a new version that will introduce a unique defensive layer, which which will be tasked with conducting a secondary cross-check to ensure that the lockup and release events on both side of a transaction always have perfect symmetry. Check out Hydra’s blog to see why this is a revolutionary step towards improved security for cross-chain bridges, and why it’s incredibly important to ChangeX as well.
Hydra’s latest blog article is filled to the brim with updates, works-in-progress and features already implemented, so we encourage you to check it out. But as you can see, everything related to Hydra in ChangeX will become even more enticing, as the network itself becomes faster, more reliable, more functional, and more secure. And we can’t wait to see it.
We hope you’ve liked this post and found it informative. If so, we’d be grateful if you could spread the word however you see fit.
Thanks for being here,
The ChangeX team