Charles Hoskinson, the CEO of IOG, has reacted to the launch of Hydra on the Cardano public testnet, describing the product as one of the fastest and best pieces of applied research in the Cardano ecosystem.
In the screenshot captioned by Hoskinson in a tweet, the Cardano development team announced the launch of Hydra public testnet.
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Sebastian Nagel wrote:
“Today, almost one year after we read the Hydra whitepaper [for the] first time back-to-back, we opened the first Hydra Heads on the Public Cardano testnet. This should be the first, which saw the full init, commit, close, & fanout lifecycle. This is a great accomplishment and it’s a pleasure to work with you @Arnaud and @KtorZ.
Cardano Creator Says Hydra Public Testnet Launch Is Significant
In a tweet a few hours ago, Charles Hoskinson, the creator of Cardano (ADA), showcased his excitement on the new development and praised the team of developers behind its success.
Charles Hoskinson tweeted, “I’m extremely proud of the Hydra team for making this milestone. It’s one of the fastest and best pieces of applied research in the Cardano Ecosystem.”
I'm extremely proud of the Hydra team for making this milestone. It's one of the fastest and best pieces of applied research in the Cardano Ecosystem. pic.twitter.com/nVWuAPHwJ5
— Charles Hoskinson (@IOHK_Charles) March 16, 2022
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What Is Cardano Hydra?
Hydra is a Layer-2 system that seeks to scale the wider Cardano blockchain by reducing latency and increasing the throughput, or transactions per second (TPS).
According to Input Output Global (IOG), Hydra can reach confirmation times of under one second, compared to the Cardano mainnet latency of 20 seconds.
As the Cardano network advances in terms of growth, with more smart contracts and decentralized applications (DApps) launching on the blockchain, Hydra will hope to drastically reduce transaction costs.
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