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Why The Hydra Layer 2 Solution Is Important To The Cardano Network

Why The Hydra Layer 2 Solution Is Important To The Cardano Network


NewsBTC
2021-09-20 23:00:55
Why The Hydra Layer 2 Solution Is Important To The Cardano Network

IOHK, the developer behind the Cardano network, has announced a new solution for the network. Following the launch of smart contracts on the network, it has moved on to other projects to make sure that the network meets all of the needs of its developers. This has shone through in the latest release from the developer, called Hydra. The Cardano hard fork brought to the forefront the possibilities for more development. Even as developers outside of the main Cardano project develop their own solutions and protocols that run on the network, IOHK is continuing its work in making the network more scalable and safe for its users. This is why the release of the Hydra Layer 2 solution is important to the ecosystem. Layering Hydra On Top Of Existing Layer 1 Blockchain Hydra is a Layer 2 blockchain solution built to run on top of the existing Layer 1 blockchain on Cardano. Hydra uses isomorphic state channels which basically will use the same ledger representation over and over again to provide uniform, off-chain ledger siblings. These are referred to as Heads by the developers. This puts things like NFTs, native assets, and Plutus scripting directly into a Hydra Head, which acts basically as an extension of the current existing system. Related Reading | Cardano Founder Charles Hoskinson Says He Wants To Eliminate The Need For CEOs And Presidents This Layer 2 solution will provide the much-needed scalability that is required for ne...

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