Charles HOSKINSON’S post on X was a reaction to a post from Dedium, a Cardano-based decentralized computing network. As an example of “the beauty of Cardano”, Dedium considered a single block with eight transactions that were billed to 1,600 different recipients. Dedium noted a transaction cost of 5.16 ADA (approximately $2.38). It should be noted that the challenge that blockchains are trying to solve is how to achieve scalability, throughput and speed while keeping fees low.
Charles Hoskinson stated that the point of the blockchain is to make the idea of cheapness and scalability expand exponentially. He went on to say that the two most important breakthroughs in this regard are Cardano Hydra and Leios. The main scalability tool that Cardano has been developing over the past many years is Hydra. Transactions are consolidated and executed offline using Hydra and then synchronized when the system goes online. To prevent networks from being overloaded, this approach allows for many transactions to be processed on chain at once.
To further improve the efficiency and scalability of the network, Cardano developed Ouroboros Leios. Charles Hoskinson believes that with the combined power of Hydra and Leios, Cardano can become the foundation of a global financial operating system.
Image: Binance Academy
Read the full article here
