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ZyCrypto 2024-12-09 18:44:35

Cardano’s Hydra Surpasses Visa with $2 Billion in Transactions in Just 4 Hours

In a groundbreaking achievement, Cardano’s layer-2 scaling solution, Hydra, has shattered expectations by processing $2 billion in transactions in just four hours, surpassing the capabilities of global payments giant Visa. The milestone, reported by Financial Index this Sunday, quickly gained traction after Cardano’s founder, Charles Hoskinson, shared the update on X with a celebratory “MORE” captioned GIF. Hydra, designed to enhance the throughput and efficiency of the Cardano blockchain significantly, achieves scalability by processing transactions off-chain through a network of parallel “heads.” This approach addresses the scalability challenges many blockchain networks face, reducing latency, slashing transaction fees, and preserving Cardano’s renowned security standards. This achievement follows a recent historic demonstration in which Hydra facilitated 1 million transactions per second during a live Doom tournament, showcasing its immense capacity for real-time data processing. The event highlighted Hydra’s potential to support decentralized finance (DeFi), gaming, microtransactions, and industries where high-speed transactions are essential. Hydra’s infrastructure includes 12,000 heads deployed across six global regions, each capable of processing up to 800 transactions per second. This decentralized setup underscores Hydra’s ability to scale efficiently as transaction volumes grow. Moreover, Hydra’s architecture allows for zero transaction fees, a significant advantage for reducing costs in the blockchain ecosystem. In addition to Hydra’s record-breaking performance, Cardano’s ecosystem continues to evolve with the ongoing development of the Cardano Constitution. This decentralized governance initiative aims to give the community more control over the network. Charles Hoskinson, in an address at the Cardano Constitutional Convention in Argentina earlier last week, emphasized the importance of building a sustainable and inclusive financial system while celebrating Hydra’s achievements. “We never give up in Cardano land. Look at Hydra, we finally got there. But, we’ve been talking about it for two years and we finally got to a good part and there’s so much more work to do…” he noted . He further explained how Cardano’s infrastructure is designed to support millions of transactions without compromising decentralization or security, underscoring his vision of Cardano as a global financial system capable of supporting Bitcoin and other cryptocurrencies. Meanwhile, the crypto world faces important developments as the Cardano network reaches new heights. George, from the Angry Crypto show, also mentioned how Cardano has been dominating polls, with over 90% of votes in its favor in various blockchain comparisons. This growing community interest is reflected in Cardano’s global search interest, which has surged by 38% on Google Trends since early November. While Cardano’s technical advancements are garnering more attention, Trump’s recent appointment of David Sachs as the U.S. crypto czar has also sparked discussions about the future of crypto regulation. Many in the industry view his appointment as a potentially positive development for the entire crypto sector, including Cardano , as Sachs is seen as a pro-innovation, business-friendly figure who could help drive clearer and more supportive regulatory frameworks for the sector.

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