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Charles Hoskinson, co-founder of the Cardano network, has addressed some concerns and misconceptions regarding the Hydra project. In a Wednesday recording, the crypto mogul made an earnest effort to provide clarity and transparency, as well as debunk allegations of dishonesty surrounding Hydra’s throughput capabilities. The protocol, which went live on mainnet in May is built to enhance Cardano’s scalability by implementing a unique approach to transaction processing.
Showcasing Cardano’s Potential
Countering myths about Cardano’s inability to process transactions fast, Hoskinson shared a TPS chart showing around 1,000 TPS to highlight Cardano’s throughput capability. However, he stressed that this metric alone didn’t fully represent Cardano’s potential, clarifying that the purpose of Hydra had evolved over time.
According to him, rather than solely maximizing TPS, the project now prioritizes developing middleware to enable developers to create sophisticated applications on Cardano. This shift in focus is in line with Cardano’s vision to support various off-chain and on-chain applications, including NFT drops, DEX transactions, and complex smart contracts.
Hoskinson also highlighted that Cardano’s extended UTXO model allows for more sophisticated transactions with numerous components, making it a unique system compared to other blockchains.
“We have the single best Paradigm for applying rollups long term. Why? Because rolling up these outputs in a UTXO model is a lot easier than this Global State system of accounts and all the complexity that exists there.” He said.
Addressing Misinformation
That said, Hoskinson also addressed concerns about recent misinformation and skepticism about Cardano encouraging the Cardano community to remain vigilant and fact-check claims about the project.
“Every time a lie is said, it takes 10 times as much effort to undo that in people’s memory. So, when people run around and say hydra’s failed, we lied about Hydra, there’s no way to achieve any of these performance claims…then what they’re really doing is they’re taking the hard work of dozens of people and everybody building on it…it’s not okay and it’s not fair and it has to stop”
He further reiterated that the Cardano ecosystem is built on rigorous research, peer-reviewed foundations, and open-source contributions from a global community of engineers and developers. That said, Hoskinson emphasized that Cardano’s future remains bright, with ongoing efforts to advance the ecosystem and develop innovative solutions.
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