Cardano developer reveals progress on Hydra . scaling protocol
Cardano announced his Hydra protocol last year and has continued to evolve ever since. The project that finally got smart contract capabilities in 2021 has made progress in proving it’s a force to be reckoned with in space. The decentralized financial space (DeFi) is starting to take off. Now it provides insight into the Hydra protocol and how much progress the team has made in scaling it.
Hydra has evolved
In a recently published report On its official website, the developer behind Cardano, known as IOG, has provided more information about what the Hydra project is up to. It explains where the protocol is now, if it is far from where it came from. Created by the Ouborous team to increase throughput, minimize latency, and provide cost-efficient solutions without sacrificing storage resources, Hydra continues to evolve.
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Hydra has now grown into a proof of concept protocol, something that was not included in the initial roadmap. This has pushed the project towards “a more defined implementation for the test state MVP”.
There are several Hydra Heads, which comprise a robust network layer between Cardano and other blockchains, as well as other smart contracts that will drive the life cycle of a Hydra Head. It works like a mini ledger and works similarly to the Cardano network’s on-chain ledger, but on a smaller scale and off-chain.
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The consensus algorithm provided in this protocol requires all parties involved in a transaction to agree before it is allowed to proceed. This provides a very high level of security for those using the protocol.
“A consequence of this is that as a participant I cannot lose money that I have not explicitly committed to lose. Why? Because any valid transaction requires my express approval,” the report reads.
Cardano on his way to a million TPS
One of the selling points of the Cardano network is how many transactions per second it can process. The proof-of-stake network is significantly faster than ethereum, its biggest competitor. The project is committed to improving the TPS. However, that’s not all Hydra stands for.
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While TPS may sound like an important metric, the report finds it to be the least meaningful metric to use when conducting a comparison, as transactions can come in a variety of shapes and sizes. Yes, the blockchain is working on more scalability, but “scalability isn’t about a million TPS.”
Rather than looking at TPS, the report asks to look at throughput, finality, and concurrency, as these metrics are more important in the grand scheme of things. These three metrics represent the volume, speed and amount of work done, the report said.
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