Cardano (ADA) founder Charles Hoskinson is known for his open views. On X, the former Twitter, a user voiced his criticism of the developments surrounding Cardano and was confronted with harsh backlash.
The critic goes under the name 0xNLY.arf on About the comparison answered Hoskinson negative. According to him, Ethereum has a terrible consensus layer, a terrible programming model, and the network is being “eaten” by itself. layer 2 ecosystem.
It’s becoming a mad city now. Hydra is active on the mainnet and is evolving rapidly. Mithril is also live and is the first step towards a comprehensive DA and light client strategy. With tiered pricing and Babel fees, we’ve already developed a much better way to process transactions.
There are…
— Charles Hoskinson (@IOHK_Charles) August 17, 2023
Hydra: Cardano’s path to high-speed transactions
Hoskinson claims that Cardano can become the fastest crypto network in the world with Hydra. Instead of executing transactions directly on Cardano’s main blockchain, Hydra uses a private network called Hydra Head. This allows for fast transactions that are later settled through Cardano’s main blockchain. Each Hydra head acts as an off-chain “mini ledger” shared by a small group of participants. This significantly speeds up transactions and reduces costs. The American emphasized that the scaling solution can currently process more than 1,000 transactions per second. In the future it could be 1 million.
Hydra Pay is then another decentralized payment service based on the Hydra Head protocol. Scheduled for launch in 2023, it promises to revolutionize Web3 micropayments with even cheaper and faster processing than is currently possible.
Cardano is a ghost chain
Cardano is often criticized on social media. This is how the network comes to the term “ghost chainwas thrown at him because there was little activity on the network for a while. Here, too, Charles Hoskinson reacted violently. Regarding X, he emphasized that Cardano “will stay here”. In response, he shared a post from Stake with Pride detailing issues Cardano has yet to experience, such as hacks and inflation bugs — issues that other blockchains have faced.