Charles Hoskinson confirmed that active development is taking place around Cardano’s extension protocol Hydra.
Cardano is a popular proof-of-stake (PoS) cryptocurrency network. Hydra is a scalability solution for the Cardano blockchain network, creating multiple side chains to process transactions independently and improve network performance while maintaining security and decentralization. In May 2023, Cardano developers successfully activated Hydra on the Cardano mainnet.
March 16, 2024 Charles Hoskinson, founder of Cardano and CEO of Cardano developer company Input Output Hong Kong Global (IOG), said he recently discovered some videos of people talking negatively about Cardano’s Hydra.
Hoskinson found that many people claimed that developers had abandoned development around Hydra. Addressing these claims, Hoskinson said there was very active, motivated and community-engaged development taking place around Hydra.
Additionally, he said developers are actively working to improve the protocol and have new papers in the pipeline.
Cardano’s founder suggested all such critics to visit official sources to get updates on all existing and new developments on Hydra.
This is a bitter reality because the Cardano team is completely different from other cryptocurrency projects in that they do not promote their final development work to the cryptocurrency community.
There have been several instances where Cardano has not received media attention. This is because these cryptocurrency projects are not backed by venture capital (VC) investors, while all media companies are backed by VCs.
Ada price action
The current trading price of ADA, the native coin of the Cardano network, is $0.67, which is down 5.5% over the past 7 days.
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