The abandonment of Hydra is “just pure FUD,” co-founder of Cardano Charles Hoskinson stated in a post on X. Co-founder of Cardano Charles Hoskinson has dispelled reports that the company has given up on its Hydra layer-2 scaling project for the network.
The CEO of IOHK posted on X on March 18 to reaffirm that the project’s developers were still working on it.
He began, “It’s just pure FUD. “I see some videos claiming they have abandoned Hydra.”
Launched in May 2023. The Cardano-based protocol Hydra aims to lower transaction costs and increase the capacity of transaction processing on the Cardano blockchain. It is believed to be a part of Cardano’s “Basho” roadmap, which focuses entirely on scaling.
Charles Hoskinson refuted rumors that Cardano abandoned the Hydra project, highlighted by a recent video. He emphasized on X that the team remains highly motivated, with ongoing community engagement and upcoming protocol enhancements. Previously, Hoskinson addressed scalability FUD, praising Hydra as a pivotal scaling solution for Cardano in a video.
He went on to say that Hydra has “pivoted a little” and created middleware that allowed programmers to create decentralized apps (DApps) for Cardano.
On March 18 Hoskinson went on the defensive once more, criticizing a “wave of FUD” regarding. Its scaling roadmap and partnership with digital ID platform World Mobile.
“Man, it’s raining FUD this weekend, and I’m not sure about the origin. I guess it’s that time of the cycle where everyone freaks out about Cardano’s potential and roadmap, so they throw a wave of FUD at us.”
DefiLlama reports that Cardano has experienced growth in its total value locked (TVL) for decentralized finance (DeFi) this year. With the amount reaching an all-time high of $520 million on March 14.
The network is still far behind its rivals, Who together have a TVL of $72 billion: Ethereum, Tron, BNB Smart Chain, and Solana.
