Cardano (ADA) and Charles Hoskinson, founder of Input Output Hong Kong (IOHK), noted that Hydra, Cardano’s scalability solution, “is going very well.”
CEO and founder of Cardano (ADA) Hoskinsonheld an “Ask me anything (AMA)” session on his YouTube channel with 287,000 subscribers. Asked how the company is doing with the Hydra scalability update, this is the company’s huge workload right now. hydra He stated that he has devoted himself to the update and that they plan to continue to add additional resources in the future.
“We’re trying to identify some teams to speed up the workflow and align it with other work, as this is a very high ‘business priority’ and it’s crucial that we can offload a large amount of transaction traffic.”
David Orr of IOHKAlthough it planned to improve ADA fees in September to balance user costs, share pool operator rewards, and network security, it likely may not be “low” enough in realistic use.
“Hydra is a platform that seeks to address these concerns while using the main chain as a secure settlement layer, while also providing more efficient ways of off-chain transaction processing for some users. Layer-2 scalability solution.
Hydra’s goal is to maximize efficiency and minimize latency; All the while, fees are low or even close to zero, and storage requirements are greatly reduced.”
Hoskinson also supported IOHK Ethereum tokens (ERC-20) stated that they will also provide an update on the development of a converter that allows it to be exchanged for special Cardano-based coins.
“The ERC-20 converter will have two goals. One is the main chain, no more Plutus And since it’s here, we can actually do some good things with it. If other Mamba i.e. the ERC-20 converter team will be somewhat “shaken” and strengthened. We’re trying to add more resources here and we’re going to have a really nice two-way bridge tool for Mamba. Because you are moving from ERC-20 to ERC-20, from Solidity to Solidity. So it will be very easy to do this.”
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