Skip to content

Cardano Refutes Rumors of Hydra Abandonment, Asserts Commitment to Scaling Project

Cardano's Charles Hoskinson refutes rumors of Hydra project abandonment, asserting the team's commitment to the scaling project. Despite challenges, Cardano continues to make strides in decentralized finance (DeFi), with recent gains in total value locked (TVL).

Cardano co-founder Charles Hoskinson has dispelled rumors suggesting that the network's Hydra layer-2 scaling project has been abandoned. Responding to speculation on social media, Hoskinson reaffirmed Cardano's dedication to the Hydra project, labeling the rumors as "pure FUD."

X post from Charles Hoskinson. Source: @IOHK_Charles on X

Hydra, launched in May 2023, aims to enhance transaction processing capacity and reduce costs on the Cardano blockchain. Despite recent claims that Cardano had shifted focus away from Hydra, particularly following an integration announcement with Hyperledger Firefly, Hoskinson emphasized that the project is progressing as planned.

In the face of criticism and misinformation, Hoskinson has previously defended Hydra, highlighting its role in Cardano's scaling roadmap. He reiterated that Cardano's focus is on transaction-per-transaction performance, not just transactions per second (TPS), and noted Hydra's evolution to provide middleware for decentralized application (DApp) development on Cardano.

Cardano's commitment to scaling and development extends beyond Hydra, with recent collaborations and advancements in decentralized finance (DeFi). Although Cardano's DeFi total value locked (TVL) hit a new high of $520 million, it still lags behind competitors like Ethereum, Tron, BNB Smart Chain, and Solana, which collectively have a TVL of $72 billion.

Despite challenges and FUD (fear, uncertainty, doubt), Hoskinson remains confident in Cardano's potential and roadmap, urging the community to focus on the project's progress and achievements.