Cardano News: Hydra Pay - A revolutionary scaling solution for Cardano

Von Krypto News Österreich

Cardano ist eine Blockchain-Plattform, die sich das Ziel gesetzt hat, das schnellste und skalierbarste Netzwerk der Welt zu werden. Bisher scheint das jedoch nicht so erfolgreich zu sein wie erhofft. Im Vergleich zu anderen Blockchains gibt es in der Welt von ADA nur sehr langsame Fortschritte. Um dies zu ändern, hat das Entwicklungsteam von Cardano die Layer-2-Skalierungslösung Hydra entwickelt. Diese Lösung ermöglicht es, dass alles schneller vorangeht. Eine wichtige Komponente von Hydra ist Hydra Pay, ein dezentrales Zahlungssystem, das die Skalierungsfähigkeit von Cardano demonstrieren soll. Hydra Pay soll nicht nur Mikrozahlungen auf der Blockchain revolutionieren, sondern auch DeFi auf Cardano …
Cardano is a blockchain platform that has set itself the goal of becoming the fastest and most scalable network in the world. So far, however, this does not seem to be as successful as hoped. Compared to other blockchains, there is only very slow progress in the world of ADA. To change this, the Cardano development team has developed the Hydra Layer 2 scaling solution. This solution enables everything to go ahead faster. An important component of Hydra is Hydra Pay, a decentralized payment system that is supposed to demonstrate Cardano's scaling ability. Hydra Pay should not only revolutionize micro payments on the blockchain, but also defi on Cardano ... (Symbolbild/KNAT)

Cardano is a blockchain platform that has set itself the goal of becoming the fastest and most scalable network in the world. So far, however, this does not seem to be as successful as hoped. Compared to other blockchains, there is only very slow progress in the world of ADA.

To change this, the Cardano development team has developed the Hydra Layer 2 scaling solution. This solution enables everything to go ahead faster. An important component of Hydra is Hydra Pay, a decentralized payment system that is supposed to demonstrate Cardano's scaling ability.

Hydra Pay should not only revolutionize micro payments on the blockchain, but also give Defi new swing on Cardano. By implementing Hydra Pay, direct peer-to-peer transactions outside the blockchain can be made possible. This makes transactions faster and cheaper. Hydra Pay uses a unique proxy address structure that focuses on consumer protection and throughput. The users deposit their funds with a smart contract or a proxy address to complete transactions.

Although there is still no official start date for Hydra Pay, the Cardano team hopes that this solution hopes that. It should demonstrate the future performance of the network.

The introduction of Hydra Pay could have a positive effect on Cardano's competitiveness. Transactions, throughput and fees are decisive factors for blockchain networks. With Hydra Pay, Cardano wants to drive microtransactions in the area of ​​Web 3.0 by enabling faster and cheaper transactions. Charles Hoskinson, the founder of Cardano, claims that Hydra Pay can achieve a synthetically high TPS rate of more than one million TPS. However, these claims should be viewed with skepticism, since they have already been refuted in the past.

Nevertheless, Cardano is expected to significantly increase its performance through Hydra Pay. Dapps, games and smart contracts should be able to process microtransactions without any problems. It remains to be seen whether Cardano, however, becomes a serious competitor to Ethereum. Large announcements in the past have often not brought the desired results. Nevertheless, the development of Hydra Pay is a developments that should be kept in mind.