Hail Hydra: Hoskinson Announces New Essential Sharding Solution for Scalability on Cardano  

• Charles Hoskinson recently announced researchers at IOHK are getting closer to bringing in scalability on the blockchain.
• This is through a second layer sharding solution called Hydra.

The creator of one of the biggest cryptocurrency protocols in the industry, Charles Hoskinson recently announced that the researchers at IOHK are getting ever closer to bringing in scalability on the blockchain through a second layer sharding solution called Hydra.

Talking in a live video posted on the 9th of March, the CEO talked about a groundbreaking achievement for the research team at Cardano. Explaining that the researchers have been investigating ways to make proof-of-stake are significantly more practical since 2015. This required them to divide a solution that would allow gradual scaling as more users get on board with the project.

Hail Hydra!!! You get a second live video today: https://t.co/I0tmAqy5iH https://t.co/XRJrpJXADK

— Charles Hoskinson (@IOHK_Charles) March 9, 2020

Hoskinson said that it took five years and a team of more than 20 engineers and scientists are working full time to come up with an idea. The research led to more than 1000 citations as well. The CEO further said that the whole point of the research is the Ouroboros hydra. This means hydra is an essential part of the ultimate goal for the project to create a highly scalable proof of steak protocol with Ouroboros.

The research team at the company finished the initial build of the “marvel of engineering” paper in November last year and then submitted the conference build last month to USENIX. However, at the start of this week, the paper is accessible for anyone to read the very first time.

For those that don’t know, Hydra is a second layer scaling solution that will be at the top of the Cardano project and help speed it up and also see it fit well with the stake pool model.

In terms of value, the Cardano Price currently sits at $0.04 following a -1.26% downwards movement.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!