Cardano Founder Explain About Hydra Necessity For Cardano Blockchain
Cardano, one of the most promising habitats, has experienced considerable traction over the years. Various innovations not only in the US but around the world have helped increase its own token ADA to 1500% YTD. Thus here’s various expectations that we could expect from the coin in the coming time.
In the latest AMA session, IOHK Team Chief Executive Charles Hoskinson made the same speech. This time, however, it will be broadcast live from Ethiopia rather than Colorado. First, Hoskinson illuminated the bridge over the new ERC-20 Cardano converter, which went into effect on September 12.
This ERC-20 based Cardano Converter is an important bridge that connects customers outside the sphere. Taking an example, Ethereum-based token users can enjoy the benefits of Cardano’s transaction efficiency and low fees. The first token moved to Cardano since the launch is the SingularityNET.
“SingularityNET is in the process of migration (meanwhile) ERC 20 Converter has two goals, one is the main network. Now that Plutus is here, we can actually do everything with it; The other is Mamba. It has an amazing two-way bridge to Mamba.”
Hoskinson further commented;
But the goal remains the same. “The more common framework for a long-term goal is automation and bridging, so moving and wrapping between assets is easy,”
In addition, there are inquiries about the Plutus Application Backend (PAB) an Off-chain, back-end service managing and managing the requirements of application instincts throughout its life cycle. Well, Hoskinson accepted it quickly. He confirmed that his best estimate was November.
At the same time, the successful implementation of the above item is subject to further discussion. This is one of the most exciting new developments enabled by the Alonzo update. Hoskinson said, “A lot of work is being done, we will continue to add resources to Hydra and we will try to identify some teams so that we can speed up and streamline the workstream because it is a very high commercial priority”.
It will be able to offload a large amount of incoming transaction traffic soon from all upcoming apps. With PAB coming online, Cardano will be stuck in heavy traffic. It needs hydra for that”
Regardless of such positive developments, Cardano eventually fell victim to various social speculation and FUDs. Also in the interview, one of the followers asked if there was any FUD about increasing the block size and whether Plutus would increase the smart contract size for each block. Well, apparently, Hoskinson quickly dismissed such criticisms.
“This is a lie if you increase the amount of raw storage, the block is yours, and there will be more scripts in that block.”
Despite such speculation, Cardano did very well. It has been selected as one of the most influential projects in 2021.
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