- Speculation arose after a video suggested Cardano shifted focus from Hydra; Hoskinson clarifies Hyperledger Firefly collaboration doesn’t replace Hydra.
- Despite misinformation, Cardano’s DeFi sector thrives, hitting a TVL all-time high of $520 million on March 14, according to DefiLlama.
Recent discussions within the digital currency community have brought to light concerns over the development status of Hydra, a layer-2 scaling solution for the Cardano blockchain.
Charles Hoskinson, a key figure behind Cardano, has actively addressed these concerns, stating unequivocally that the project has not been discontinued. His clarification came through a message on X, where he labelled the circulating claims as baseless and misleading.
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.
With respect to World Mobile, the goals of their project require the…
— Charles Hoskinson (@IOHK_Charles) March 17, 2024
Hydra was unveiled in May 2023 as an initiative to enhance Cardano’s processing capabilities and reduce the cost of transactions. It is integral to Cardano’s “Basho” stage, which focuses on network scalability—a necessary step for accommodating the anticipated growth of the blockchain.Â
Speculations about Hydra being sidelined arose after a video posted on March 17 by a content creator suggested a shift in focus following Cardano’s announcement about collaborating with Hyperledger Firefly on March 13.
This collaboration is aimed at providing a comprehensive toolkit for enterprises interested in developing Web3 applications and does not indicate a move away from Hydra.
For those asking about scaling Cardano, I'd encourage you to watch this video https://t.co/GrhG3HacV6 we have all the pieces in place for our needs throughout the decade. Cardano is best positioned to meet these challenges in a decentralized, secure, and high integrity way.…
— Charles Hoskinson (@IOHK_Charles) March 16, 2024
In his communication to nearly a million followers, Hoskinson assured that the team dedicated to Hydra remains committed and is actively engaging with the Cardano community. He indicated the forthcoming publication of research papers intended to refine and enhance the blockchain’s protocol.
Furthermore, Hoskinson has previously addressed similar unfounded claims, particularly those doubting Cardano’s scalability. He has emphasised that Cardano operates on a transaction-by-transaction basis rather than focusing on transactions per second.
This approach reflects in Hydra’s adaptation, which now includes middleware solutions that facilitate the creation of decentralized applications (DApps) on the Cardano network.
The recent discourse also touched upon Cardano’s association with the digital ID platform World Mobile, and its overall strategy for scaling. Hoskinson expressed his exasperation with the recurrent spread of misleading information, which seems to coincide with periods of heightened scrutiny of Cardano’s roadmap and development potential.
