Hydra Project Condemned, Charles Hoskinson Appears to Explain!


"Don't look at it negatively, try to understand first what this ADA co-founder did."

The development and utility of Cardano (ADA) has been subject to significant scrutiny in the community, but recent discontent and criticism has focused on the Hydra project which aims to speed up transactions, reduce costs and optimize the functionality of the cryptocurrency.

Despite that, Charles Hoskinson who is the co-founder of ADA seems to be earnestly addressing the rumors about the status of the Hydra project by confirming its active development.

In addition to reiterating the ADA's commitment to innovation that will highlight the paperwork on protocol improvements, Hoskinson also highlighted the team's increased productivity and community engagement.

Responding to further doubts about World Mobile's joint collaboration and ADA's scaling roadmap, Hoskinson explained that the ambitious scope of the World Mobile project has demonstrated the need for a global-scale heterogeneous protocol.

The ADA co-founder also not only emphasized the role of "partnerchains" in the ADA ecosystem but also acknowledged the complexity of this initiative which requires time for development including maturity.

Pleased to note that the number of active wallets on ADA recently increased to 600,000 which represents a 40% climb over the lowest count observed last month and this surge is in line with the growth in the estimated $500 million DeFi ecosystem.

As of this writing, ADA price has decreased by 5.40% at $0.63 in the last 24 hours with a market capitalization of over $22 billion then recorded a plunge of 16.91% over the last week.