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Cardano’s Technical Director Denies Rumor Of 1 Million TPS, Here’s The Truth

Cardano's latest Layer-2 scaling solution, Hydra, is expected to effectively reduce fees and improve transaction speed on the network.

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Coingapestaff

Updated 13 May, 2023 | 02:22:31 PM UTC

Cardano’s Technical Director Denies Rumor Of 1 Million TPS, Here’s The Truth

Crypto News: On Thursday, a scaling solution developed to make transactions on the Cardano blockchain even faster — dubbed Hydra Head — went live on the mainnet. This led to a rekindling of optimism within the Cardano community with some claiming it to process 1 million transactions per second (TPS).

Cardano Dev Busts 1 Million TPS Myth

With the ADA community rejoicing over the introduction of its pioneering L2 Hydra on the mainnet, Cardano’s Technical Director, Matthias Benkort, has offered his thoughts on the narratives that surround the delivery of the important solution.

While responding to a tweet that claimed Hydra’s debut would usher in a new shift in the Cardano network, the seasoned developer pointed out that the new scaling solution was currently unable to process 1 million TPS as was being claimed. The head of technology further emphasized that this narrative should not be disseminated and suggested referring to the official statistics published by Input Output Global, Cardano Foundation or the Hydra website.

The Much-Anticipated Hydra Launch

According to the official statement released by the Hydra team, the isomorphic design of Hydra is well-positioned to deliver powerful capabilities and interfaces while preserving the time-tested security of the Cardano (ADA) primary ledger. Each Hydra Head functions as an off-chain “mini ledger” that is circulated among a select set of participants. This helps transactions to be completed more quickly while also reducing the fees required.

Moreover, as the technical documentation states, developers can use Hydra Heads to build sophisticated and intricate decentralized finance (DeFi) protocols on top of the Cardano blockchain. In the wake of this crypto news, the price of ADA — Cardano’s native token — dropped by 0.11% in the past one hour and is presently exchanging hands at $0.36.

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Coingapestaff

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Published by

Coingapestaff

Updated 13 May, 2023 | 02:22:31 PM

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