{"id":13531,"date":"2023-10-06T17:15:20","date_gmt":"2023-10-06T17:15:20","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13531"},"modified":"2023-10-06T17:15:21","modified_gmt":"2023-10-06T17:15:21","slug":"charles-hoskinson-defends-hydra-as-cardano-defi-thrives","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13531","title":{"rendered":"Charles Hoskinson defends Hydra as Cardano DeFi thrives"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p class=\"s3\">Cardano (ADA) co-founder Charles Hoskinson has refuted claims that Hydra, the layer 2 scaling solution for the Cardano blockchain, has been unsuccessful.<\/p>\n<p class=\"s3\">In an Oct. 5 video on social media platform X (formerly Twitter), Hoskinson revealed how Hydra has pivoted during the last three years and that measuring the network&#8217;s activity by transactions per second (TPS) alone might be misleading.<\/p>\n<p>According to him, a single Cardano transaction can encompass multiple outputs, citing one instance where a block contained 384 outputs in just one transaction. He said:<\/p>\n<p>&#8220;Cardano is not a TPS system. It\u2019s a transaction-per-transaction system, and each of these outputs can signify more intricate elements such as scripts and proofs, beyond mere raw value transfers.&#8221;<\/p>\n<p>Hoskinson further elaborated that Hydra has developed middleware for developers to build incorporates applications (dApps) for the blockchain network chain. This, Hoskinson explained, aligns with Cardano&#8217;s broader plan of supporting on-chain and off-chain applications like NFTs and decentralized exchanges (DEXs).<\/p>\n<p>He said:<\/p>\n<p class=\"s3\">&#8220;So what happened over a three-year period is that Hydra pivoted a little bit and it pivoted into, let\u2019s build some middleware that is going to be really easy for you as a developer to plug into your application work with Plutus to help get a lot of that complex logic that should not run on the main network but run it in a different network.&#8221;<\/p>\n<h2 class=\"s3\">Cardano DeFi TVL rises<\/h2>\n<p>Despite recent concerns, decentralized finance (DeFi) activity on Cardano continues to thrive.<\/p>\n<p>According to data from DeFiLlama, the total value of assets locked (TVL) on Cardano has surged by over $10 million this month to $162.1 million as of press time. This growth mirrors the uptrend in DeFi activity on the network throughout the year as more traders embrace decentralized applications built on the blockchain.<\/p>\n<p>It&#8217;s worth noting that the current TVL is still significantly below the all-time high of $326 million achieved last year.<\/p>\n<p>The post Charles Hoskinson defends Hydra as Cardano DeFi thrives appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/charles-hoskinson-defends-hydra-as-cardano-defi-thrives\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) co-founder Charles Hoskinson has refuted claims that Hydra, the layer 2 scaling solution for the Cardano blockchain, has been unsuccessful. In an Oct. 5 video on social media platform X (formerly Twitter), Hoskinson revealed how Hydra has pivoted during the last three years and that measuring the network&#8217;s activity by transactions per second [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-13531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13531"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13531\/revisions"}],"predecessor-version":[{"id":13533,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13531\/revisions\/13533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13532"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}