Hydra

Cardano

2024

World

<p class="is-style-lead">Cardano creator Charles Hoskinson addressed “FUD” (fear, uncertainty, and doubt) about the development project known as Hydra.</p>
<p>Hydra, a layer-two scaling solution designed to enhance the transaction processing capacity of the Cardano blockchain at a lower cost, was rumored to have been abandoned.</p>
<p>Hoskinson’s message conveyed a clear stance: Hydra “has never been more productive and motivated.” See below:</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I'm seeing some videos claiming that Hydra has been abandoned. It is just pure FUD. The team has never been more productive and motivated, there is great community engagement and new papers on the way for enhancements to the protocol. If you are ever curious about the project go…</p>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1769056625480847506?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Hydra within Cardano <a href="https://crypto.news/cardano-introduces-hydra-node-for-enhanced-scalability/" rel="noopener noreferrer nofollow">serves</a> as an open-source framework designed for crafting off-chain ledgers. Cardano claims it offers developers enhanced efficiency in leveraging blockchain technology</p>
<p>By facilitating the simultaneous processing of multiple transactions, this inventive protocol operates through independent state <a href="https://crypto.news/cardano-deploys-the-first-hydra-head-3-years-after-proof-of-concept/" rel="noopener noreferrer nofollow">channels</a> known as Hydra Heads. These heads manage transactions off-chain, ensuring swift and efficient operations while upholding Cardano’s decentralized principles.</p>
<p>In contrast to certain scalability solutions that compromise decentralization, Hydra aims to scale Cardano’s network securely by accommodating the addition of more heads as the network expands.&nbsp;</p>
<p>While Hydra promises improved scalability and efficiency, its success hinges on adoption by developers, businesses, and users to fully harness its advantages.</p>
<p>The <a href="https://twitter.com/IOHK_Charles/status/1769199780670882020?t=6-IH2_m0EIa04VkKe-S8wQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">research paper</a> published by Cardano ADA provides insights into the technical complexities of Hydra, highlighting its capability to transform blockchain technology.</p>
<p>The founder’s involvement aims to dispel misconceptions and highlight Cardano’s dedication to promoting interoperability with prominent chains like Ethereum.</p>
<p>Hoskinson also took to X to address rumors about World Mobile:</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Man, it's raining FUD this weekend, and I'm not sure about the origin. I guess it's that time of the cycle where everyone freaks out about Cardano's potential and roadmap, so they throw a wave of FUD at us. <br><br>With respect to World Mobile, the goals of their project require the…</p>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1769452455257845806?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>You might also like: <a href="https://crypto.news/cardano-ada-ouroboros-hydra-research-paper/" rel="noopener noreferrer nofollow"> Cardano (ADA) Releases Ouroboros Hydra Research Paper </a></p>
<h2 class="wp-block-heading" id="grayscale-omits-cardano-from-gdif">Grayscale omits Cardano from GDIF</h2>
<p>Grayscale’s Dynamic Income Fund (GDIF) recently excluded Cardano, prompting discussions within the crypto community.</p>
<p>Grayscale, a renowned investment firm, introduced the GDIF as a means for staking cryptocurrencies to generate income.</p>
<p>The fund initially comprises assets from nine blockchains, including Aptos, Celestia, Coinbase Staked Ethereum (CBETH), Cosmos, Near, Osmosis, Polkadot, SEI Network, and Solana.</p>
<p>GDIF aims to distribute rewards in U.S. dollars on a quarterly basis, providing investors with exposure to multi-asset staking through a single investment vehicle.</p>
<p>Cardano’s <a href="https://www.binance.com/en/square/post/5065516541226" target="_blank" rel="noopener noreferrer nofollow">absence</a> from the fund raised questions within the community. ADA’s yield, standing at 3.05%, was comparatively lower than other projects like Osmosis and Polkadot, which had higher yields at 16.52% and 10.76%, respectively.</p>
<p>The decision to include Solana and Ethereum in GDIF over Cardano reflects Grayscale’s strategy to prioritize projects with high returns and market capitalization.</p>
<p>Solana and Ethereum, with a combined worth exceeding $540 billion, are among the most traded coins in the market, making their inclusion logical from an investment perspective.&nbsp;</p>
<p>Inclusion could lead to price increases and enhanced security against 51% of attacks.</p>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"><iframe title="Grayscale Picks Ethereum &amp; Solana Over Cardano: An ADA Setback?" width="1020" height="574" src="https://www.youtube.com/embed/zSQSwsIAJl4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
 </div>
</figure>
<p>Read more: <a href="https://crypto.news/grayscale-crypto-staking-etf/" rel="noopener noreferrer nofollow"> Grayscale fields crypto staking ETF </a></p>

Cardano’s Charles Hoskinson refutes Hydra abandonment: ‘It’s raining FUD’

Table of Contents

crypto.news

Other articles published on Mar 17, 2024

Bitcoin Price Trends and Market Analysis

Solana memecoin BOME gains 322%, but how long will the hype last?

Bitcoin ETF Excitement in the UK: Coinbase Executive Made a Comment

Shiba Inu-Themed Meme Coin DOGE20 Launches on Ethereum, Raises $1 Million in Presale with High St...

Remilia Founder’s Ethereum and NFT Holdings Compromised in Hacking Incident

Time to Sell Arbitrum (ARB)? 8.95 Million Tokens Sent to Binance

Join our free newsletter for daily crypto updates!