Cardano Co-Founder Clarifies Misconceptions Regarding Hydra - Crypto Economy

The co-founder of the Cardano Network has reassured the community that the platform’s Hydra project has been working perfectly well. This reassurance follows the continuous onslaught by a number of individuals in the crypto market. In a recently shared video message. Charles Hoskinson made an effort to provide clarity and transparency to debunk all possible allegations of dishonesty surrounding Hydra’s capabilities. The project went live back in May this year and it was designed to enhance the Cardano Network’s overall scalability by implementing a unique approach to transaction processing.

While countering the allegations against Cardano’s inability to swiftly process transactions, the co-founder shared a TPS chart that showed around 1,000 TPS. This was done to clearly show the network’s current throughput capability. At the same time, he stressed that this metric was not enough to highlight Cardano’s true potential. It was also made evident that the purpose of Hydra also evolved over time. Instead of solely focusing on the maximization of the TPS, the project prioritizes the development of middle ways to facilitate developers in creating sophisticated applications on the Cardano network.

Hoskinson Addresses Concerns of the Cardano Community

A high percentage of people believe that this specific shift in focus aligns perfectly with the network’s vision to support a great number of on-chain and off-chain applications. Some of these include NFT Drops, DEX transactions, and smart contracts. Cardano’s extended UTXO model allows for more complex transactions along with additional components that make it a unique system in comparison to other blockchains.

The co-founder of Cardano also took his time to address several other concerns about the network. It is important to keep in mind that these misconceptions encouraged the masses to stay vigilant and fact-check all claims about the project. He emphasized how it takes a lot of effort to convince the masses that what they heard was merely a rumor.

Hoskinson added that the Cardano network was developed as a result of extensive research, peer-reviewed foundations, along open-source contributions from a global community consisting of engineers and developers. He stated that the future of the network continues to remain bright amid continuous efforts of the network’s team to advance the ecosystem and develop innovative solutions.