Hydra Scaling Solution Launched on Public Cardano Testnet

According to a screenshot shared today by the CEO and founder of Cardano, Charles Hoskinson, the team behind the blockchain network has successfully launched the hydra scaling solution on the Cardano public testnet. The screenshot that Hoskinson shared included a tweet of Sebastian Nagel, a member of Cardano’s IOHK, that read: “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.” Reacting to the development, the Cardano founder, celebrated the milestone, saying: “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 Hydra is a layer-2 scaling solution for Cardano blockchain that’s designed to address network security and scalability capabilities. The scaling protocol offers increased throughput, minimized latency, and cost-efficient solutions without substantial storage requirements. Upon the official launch of Hydra, Cardano (ADA) prices have surged by 3% from the past 24 hours to currently trading at $0.813205 at the ...